It’s official! Kylie Jenner has a net worth of one billion, making her the world’s youngest self-made billionaire. The 21-year-old beauty mogul was named in Forbes’ Billionaires The Richest People in the World feature. And though it isn't a competition, it does mean she is now three times richer than her famous sister, Kim Kardashian. Kylie, who founded Kylie Cosmetics in 2015 told Forbes, “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 now three times richer than her sister Kim Kardashian
The mom-of-one credits her massive following on social media as her number one marketing tool. “It’s the power of social media,” she said. I had such a strong reach before I was able to start anything.” Since launching her namesake beauty brand with her infamous Lip Kits, Kylie Cosmetics has grown a cult following thanks to its colorful eyeshadow palettes, megawatt highlighters, special collections and so much more. When her fans and followers get news of any product launches, they’re often sold out within minutes, and now that they’re sold at Ulta stores across all 50 states, her products have gained a much further reach than ever before.
According to Forbes, Kylie’s beauty empire consists of only seven full-time and five part-time employees. Her mother, a.k.a. momager, Kris Jenner is responsible for finance and PR while packaging and manufacturing is outsourced to a private label producer, Seed Beauty.
Kylie Cosmetics has a cult following thanks to its famous lip kits, megawatt highlighters and special collections
In a recent interview with Paper magazine, the youngest of the Kardashian-Jenner siblings said her parents cut her off financially at the age of 15. "My parents told me I needed to make my own money, it's time to learn how to save and spend your own money, stuff like that," she explained. "What I'm trying to say is I did have a platform, but none of my money is inherited," she added.