Forbes Magazine has declared in its yearly Billionaires list, making Kylie Jenner (21) the youngest to join the elite list of billionaires surpassing Facebook CEO and Founder Mark Zuckerberg (23) as the youngest to reach the net worth of $1 billion.
The Founder of the Kylie Cosmetics ranks at 2,057 on the list of 2,153 people. Amazon’s founder Jeff Bezos who also owns The Washington Post is ranked as the richest person in the world with a net worth of whooping $131 billion a hike of $19 billion in the last year net worth.
Born in 1997, Kylie Jenner the daughter of the Olympic gold medalist Caitlyn Jenner and Kris Jenner, the ex-wife of lawyer Robert Kardashian. Kylie and her sister Kendall appeared as tweens in the E! reality series “Keeping Up With the Kardashians” in 2007, but their screen time grew as they did. The Sister pair using their Instagram fame and launched the clothing and accessory lines with PacSun and Steve Madden.
In 2015, Jenner launched the Kylie Lip Kit, a lipstick and lip liner kit that became the base of Kylie Cosmetics. Having more than 175 million followers across Instagram, Facebook, Twitter and Snapchat became the major source of her sales. Her mother became the biggest seller for her as she bought 15,000 of her Lip Kit and teased them of social media and putting them on sales at $29 in November which were sold in just minutes.
Next Year the company name was changed to Kylie Cosmetics and the website was stocked with 500,000 lip kits in multiple shades (the Lip Kit still sales at $29) and the company has expanded to various other cosmetic products. Forbes reports that the company has made a whooping $307 million in the first year and grew a slight growth in sales since joining hands with beauty store Ulta to sell her products to conventional stores.
Forbes calculated that Jenner’s company is worth at $900 million and adding the money she already had after subtracting her mother’s 10% management fee marks her worth at $1 billion.