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Keeping up with Kylie: Jenner world's youngest billionaire

Credit: Reuters Studio
Published on March 6, 2019 - Duration: 01:32s

Keeping up with Kylie: Jenner world's youngest billionaire

Kylie Jenner has been named the youngest self-made billionaire of all time by Forbes magazine, thanks to the booming cosmetics company she founded three years ago.

Megan Revell reports.

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Keeping up with Kylie: Jenner world's youngest billionaire

Forbes has proclaimed Kylie Jenner the world's youngest self-made billionaire.

The magazine says her cosmetics company is worth $900 million dollars, but puts the 21 year-old's overall wealth at around a billion.

It earns her a spot on Forbes' 2019 ranking of the richest people in the world, released Tuesday (March 6).

She sits at the end of a list led by Amazon's Jeff Bezos and Bill Gates.

Jenner is a reality TV star, having made money from endorsements and appearances on the TV show 'Keeping Up with the Kardashians'.

But that's not all.

She's also a makeup mogul and Forbes' editors say that's what's put her in the big leagues.

(SOUNDBITE) (English) FORBES MAGAZINE ASSISTANT MANAGING EDITOR, LUISA KROLL, SAYING: "Kylie Jenner's introduction to being a billionaire; it is something that has shocked all of us and it's really something.

We call her the first selfie billionaire and it really speaks to the way that people can make businesses these days.

She essentially took 250,000 dollars that she'd made modeling.

There's going to be a lot of debate about what she's self-made or was she not.

She definitely was able to leverage her family's fame and her personal fame.

And she basically started making makeup and sold it through her Instagram account and through online.

And sales took off." She founded Kylie Cosmetics in 2015 and recently struck a deal with ULTA Beauty to put her products in its thousand-plus U.S. stores.

Forbes says Kylie Cosmetics raked in an estimated $360 million in sales last year.

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