Los Angeles: Reality TV star and make-up czarina Kylie Jenner becomes the youngest self-made billionaire in the world for the second year in a row.
Forbes released the annual World’s Billionaires list, and Jenner remains the youngest self-made billionaire.
Jenner first made it onto the billionaires list in March 2019, then further cemented her spot in November, when she agreed to sell 51 per cent of her Kylie Cosmetics to beauty giant Coty Inc. for $600 million.
The deal, which closed in January, values her business at about $1.2 billion. The cash from the sale and her remaining 49 per cent share of the company make Jenner one of just 2,095 people in the world with a ten-digit fortune, reports forbes.com.
“I didn’t expect anything. I did not foresee the future,” Jenner had previously told Forbes, adding: “But (the recognition) feels really good. That’s a nice pat on the back.”
Jenner started her cosmetics empire in 2014. She turned her social media following into a dedicated customer base by using about $250,000 of modeling earnings to pay an outside company to produce Kylie-branded lip kits –$29 packages of lipstick with matching lip liner. The first batch of 15,000 lip kits sold out within the first minute. She soon expanded, releasing 500,000 kits in six shades a few months later.