Kylie Jenner becomes youngest self-made billionaire

Kylie Jenner becomes youngest self-made billionaire

It’s official: Kylie Jenner is now the youngest self-made billionaire ever.

Forbes reports that Jenner, who is 21, is now worth $US1 billion, reaching the milestone to years earlier than Facebook founder Mark Zuckerberg.

The success comes from her Kylie Cosmetics, a company Forbes estimates to be worth at least $US900 million.

Jenner, of course, owns all of it, so adding in the cash she has already made from the business she has now hit the $1 billion mark.

An exclusive deal to start selling her products through distributor Ulta saw the value of her company jump more than 9 per cent. More than $US54 million in Kylie Cosmetics has been sold in the six weeks since the deal was announced.

“I didn’t expect anything. I did not foresee the future,” Jenner told Forbes. “But (the recognition) feels really good. That’s a nice pat on the back.”

Jenner admits that her social media following has a huge part to do with her success.

“I had such a strong reach before I was able to start anything,” she says. “It’s the power of social media.”

Jenner current counts 175 million-plus followers on Snapchat, Instagram, Facebook and Twitter.

While some may question the “self-made” part of her new informal title, Jenner has defended it.

“The self-made thing is true,” she told Paper magazine, adding that Kris Jenner and Caitlyn Jenner “cut her off at the age of 15” and haven’t financially supported her since.

“My parents told me I needed to make my own money, it’s time to learn how to save and spend your own money, stuff like that,” she said. “What I’m trying to say is I did have a platform, but none of my money is inherited.”

-More to come

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