Kylie Jenner Is Now the Youngest Self-Made Billionaire in History, According to Forbes

It seems like only yesterday that the trolls were up in arms about Forbes‘s bold declaration that Kylie Jenner would soon obtain the status of the world’s youngest-ever self-made billionaire. In fact, it took the Kylie Cosmetics mogul less than six months to do so: On Tuesday, the magazine confirmed that Jenner had officially crossed over into 10-figure territory by the end of 2018.

According to Forbes, the mid-November launch of Kylie Cosmetics in Ulta stores around the country played a major role in giving Jenner the last push she needed to become the world’s current youngest billionaire (self-made or not). In just six weeks, the three-year-old company took in $54.5 million in sales from the partnership, helping Kylie Cosmetics’ overall value increase by 9 percent in 2018, to $360 million. Forbes therefore estimates that the company, of which Jenner is the sole owner, is conservatively worth about $900 million, which, added to the rest of Jenner’s other earnings, puts her personal fortune at $1 billion. Reminder: She just turned 21 in August. Mind you, this is all according to Forbes’s estimates and the perceived worth of her company, which is to say, Jenner does not have $1 billion in her bank account.

“I didn’t expect anything. I did not foresee the future,” Jenner told Forbes of achieving this milestone. “But [the recognition] feels really good. That’s a nice pat on the back.” She (and the magazine) attribute much of her company’s massive success to its low overhead costs: She employs only a handful of full-time employees and does nearly all of her marketing and promotion via her own Snapchat, Instagram, and Twitter feeds. “It’s the power of social media,” she said. “I had such a strong reach before I was able to start anything.”

Next up for Jenner and Kylie Cosmetics: She’s expanding her product range, introducing more of her existing products in Ulta stores, and definitely not considering selling her mega-profitable brand, no matter what her mom says. “I see [Kylie Cosmetics] going very far,” Jenner said. “I work really hard.”

Earlier this year, she addressed critics who have taken issue with her “self-made” status, saying in her Paper cover story that, despite her immense privilege, the label is “true,” since her parents “cut [her] off at the age of 15.” She explained, “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…What I’m trying to say is I did have a platform, but none of my money is inherited.”

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