Kylie Jenner has made history. Thanks to her makeup line Kylie Cosmetics, the 21-year-old has become the youngest billionaire ever. The news was made official on Tuesday, March 5 when Forbes released its annual billionaires’ list.
Jenner also overtakes Facebook founder Mark Zuckerberg as the youngest-ever self-made billionaire. Zuckerberg was 23 when he first made the list.
The youngest of the Kardashian-Jenner clan began using her social media following to sell the products. After overwhelming success with online sales and pop-up shops, Kylie Cosmetics partnered with beauty retailer Ulta. Ulta is now the exclusive retail supplier of Kylie Cosmetics which continue to boom.
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Fueled in part by the Ulta expansion, Kylie Cosmetics’ revenue climbed 9% last year to an estimated $360 million. With that kind of growth, and even using a conservative multiple from the booming makeup industry, Forbes estimates Jenner’s company is worth at least $900 million.
Alexandra Andresen, 22, and Katharina Andresen, 23, are the next youngest billionaires on the list. The Andresen sisters both inherited 42 percent of their family-owned investment company Ferd. In total, only eight people under the age of 30 were included on the Forbes list.
You can check out a full breakdown of the world’s billionaires here.
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