Kylie Jenner and Travis Scott at the 61st Annual Grammy Awards on February 10 in Los Angeles. Photo: AFP
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https://scmp.com/news/world/united-states-canada/article/2188781/forbes-names-kylie-jenner-youngest-self-made United States & Canada
Forbes names Kylie Jenner the youngest ‘self-made’ billionaire at age 21, beating Mark Zuckerberg by two years
- Some critics question whether Kylie Jenner, whose make-up company alone is worth over US$900 million, is truly self-made
Kylie Jenner has surpassed Facebook co-founder and CEO Mark Zuckerberg as the world’s youngest self-made billionaire, according to Forbes. Photo: Reuters
Most college-aged kids get by with minimum wage paycheques, but 21-year-old Kylie Jenner was just named the youngest self-made billionaire.
Forbes announced on Tuesday that Jenner had surpassed Facebook co-founder and CEO Mark Zuckerberg, who was 23 when he reached the billion-dollar mark.
“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, the youngest member of the Kardashian-Jenner clan, began Kylie Cosmetics in 2015. Forbes estimates that the make-up company alone is worth more than US$900 million and credits its success in part to its simplicity: Kylie Cosmetics employs just seven full-time and five part-time workers, the outlet reports.
“I see [Kylie Cosmetics] going very far,” Jenner said. “I work really hard.”
And with more than 128 million Instagram followers, Jenner is able to advertise to a loyal fan base.
From left, Kris Kardashian, Kendall and Kylie Jenner and Kim Kardashian West. Photo: Handout
“It’s the power of social media,” she added. “I had such a strong reach before I was able to start anything.”
Jenner’s 38-year-old half-sister, Kim Kardashian West, was worth roughly US$350 million last July, Forbes estimated in comparison.
Self-made means having succeeded in life unaided. Used in a sentence: Forbes says that Kylie Jenner is a self-made woman.
When the magazine first reported last summer that Jenner was on track to take over the title, she was met with debate from critics who argued over whether her success was “self-made” or merely a by-product of being born into an already famous and wealthy family.
“Building something successful is remarkable even for someone with incredible resources at the outset,” wrote Carli Dimino in a letter to the editor. “Not every idea is a success, no matter how many flashy consultants or marketing plans you have to put behind it. In fact, most ideas are trash. Jenner has taken the (admittedly enormous) resources at her disposal, leveraged her social media following, and sold the bejeezus out of legitimately great products that she believes in.”
“Self-made means having succeeded in life unaided,” tweeted the official Dictionary.com account. “Used in a sentence: Forbes says that Kylie Jenner is a self-made woman.”