Keeping up with Kylie: Jenner is world’s youngest billionaire

Author: 
Reuters
ID: 
1551818275981073500
Tue, 2019-03-05 20:00

LOS ANGELES: Kylie Jenner on Tuesday was named the youngest
self-made billionaire of all time by Forbes magazine, thanks to the
booming cosmetics company she founded three years ago.
Jenner, 21, the half-sister of reality television stars Kim, Khloe
and Kourtney Kardashian, made it onto the annual Forbes list of
billionaires after debuting her Kylie Cosmetics online in 2015 with
$29 lip kits containing matching lipstick and lip liner.
Forbes said she was both the world’s youngest billionaire and
also the youngest self-made billionaire ever.
On their billionaires list, Forbes distinguishes between those who
inherited much of their wealth and those who made their fortunes on
their own. Kylie would be in 2,057th place whether she was
self-made or inherited.
Last year, Kylie Cosmetics did an estimated $360 million in sales,
according to Forbes. Jenner, who has a one year-old daughter, owns
100 percent of the company.
She also makes money from endorsements and appearances on cable
TV’s “Keeping Up with the Kardashians,” and was ranked at
number 2,057 on the Forbes 2019 list.
Kylie Cosmetics last year signed a deal with Ulta Beauty Inc. to
put her products in all of the retailer’s 1,163 US stores.
Forbes put 2,153 billionaires on its 2019 list, down from 2,208 in
2018, and said their total combined net worth was $8.7 trillion,
down from $9.1 trillion in 2018.
The richest person in the world remained Amazon.com Inc. Chief
Executive Officer Jeff Bezos, whose net worth increased to $131
billion from $112 billion in 2018, according to Forbes.
Microsoft Corp. co-founder Bill Gates remained in the No. 2
position with an estimated fortune of $96.5 billion, up from $90
billion last year.
Facebook founder and CEO Mark Zuckerberg dropped three places to
No. 8, as his fortune fell by $8.7 billion to $62.3 billion.
The full list can be seen at Forbes.com/billionaires.

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Source: FS – All – Interesting – News
Keeping up with Kylie: Jenner is world’s youngest billionaire