Forbes released their annual World’s Billionaire List, and Kylie Jenner is still the youngest self-made billionaire to sit upon their list. Last year it was some talk about Kylie being self-made when it comes to her business, and Forbes made it clear that she did not inherit her business, she built it, which makes her self-made.
At the young age of 22, Kylie is worth $1 billion, and she hasn’t shown any signs of slowing down any time soon as she continues to build her empire. If you all remember, last year Forbes named Kylie the world’s youngest self-made billionaire, and last November her price went up after she agreed to sell 51% of her Kylie Cosmetics to beauty giant Coty Inc. for $600 million.
According to Forbes, the deal officially closed in January, making her business now valued around $1.2 billion. As we previously reported, Coty’s responsibility behind Kylie’s brand is to focus the “portfolio’s development, leveraging its global knowledge and capabilities in R&D, manufacturing, distribution, commercial and go-to-market expertise, as well as its deep understanding of the fragrances, cosmetics and skincare categories.”
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Kylie had previously spoken to Forbes about her billionaire status and said, “I didn’t expect anything. I did not foresee the future. But [the recognition] feels really good. That’s a nice pat on the back.”
Kylie is one of the 10 young billionaires that are under the age of 30. Of the young billionaires on Forbes’ list, seven of the billionaires are heirs and only three of them (including Kylie) created their own fortune. John Collison, who is the co-founder of the payments processor Stripe and is worth $3.2 billion, and Snapchat co-founder Evan Spiegel, who is worth $1.9 billion, both of them are 29-years-old.
TSR STAFF: Jade Ashley @Jade_Ashley94
