Published in Samaa, on Mar 6th, 2019,
Kylie Jenner just beat Facebook’s Mark Zuckerberg to became the youngest self-made billionaire in the world as reported by Forbes.
The twenty-one-year-old reached the milestone earlier than Zuckerberg, who became a billionaire when he was 23 years old.
Her cosmetic line, Kylie Cosmetics, made an estimate of $508 million in sales last year. Kylie, who owns 100% of the company, said it was all because of the power of social media.
Kylie’s finances, as well as her PR, are being taken care of by her mother Kris Jenner. Kylie also happens to have a huge following on social media which has further added to her credit in accumulating the finances. Kylie reportedly shares the details of her products directly with her fans online through the medium of Facebook, Twitter, Instagram, and Snapchat.
She also makes money from endorsements and appearances on cable TV’s Keeping Up with the Kardashians.
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.
She started her business with Kylie Cosmetics in the year 2015 and her empire has only seven full-time and five part-time employees.
Kylie is the youngest among the Kardashian sisters. She has a daughter named Stormi with her partner Travis Scott.
Forbes only 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.