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Kylie Jenner Is Forbes’ Youngest Self-Made Billionaire For Second Year In A Row

Kylie Jenner - IG
By Marisa Roman

'Forbes' has released their annual World’s Billionaire List, and guess who was featured for the second year in a row? Kylie Jenner, of course. Jenner is still the youngest self-made billionaire on their list, despite the fact she faced backlash last year for the title. Jenner, who is only 22-years old is reportedly worth $1 billion after building a beauty empire known as 'Kylie Cosmetics'. Last year, Forbes declared Jenner to be the world’s youngest self-made billionaire, but then her net worth only increased as Jenner sold 51% of Kylie Cosmetics to Coty Inc., for $600 million.

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Kylie Jenner - IG

According to ‘Forbes’, the deal closed in January for the sale of the majority stake, which made Jenner’s business valued at $1.2 billion. Jenner had previously opened up to ‘Forbes’ about being a billionaire and explained, “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.” Jenner is only one of 10 young billionaires under the age of 30 on the list. Of those 10, seven are heirs, and three created their own wealth.

Kylie Jenner - IG

Jenner came under fire last year after making the list, as many fans were unsure that she could be considered “self-made.” Even ‘Forbes’ began their profile on the young billionaire by explaining a few things, saying, “Kylie Jenner remains the planet’s youngest self-made billionaire. Yes, youngest (she’s 22). Yes, self-made (despite a lot of help from her famous family, she didn’t inherit her business—she built it). And yes, billionaire (she’s worth $1 billion).” Fans were wondering if Jenner should be considered “self-made” when she had so much help from her family to begin with.

Kylie Jenner - IG

Jenner began her cosmetics empire in 2014, smartly using her large social media following to promote her products. It was reported that Jenner used $250,000 from her modeling fees to pay an external company to produce her branded lip-kits, which include lipstick and lip liner for $29. The very first batch of lip kits, 15,000 sold out within the first minute. Jenner soon expanded her brand and released over half a million kits in a variety of shades just months later.

Kylie Jenner - IG

Eventually, the cosmetics brand blossomed, and while mom Kris Jenner managed the finances, Kylie focused on social media, marketing, and promotion. Jenner used her own website to sell everything until in 2018, Jenner signed an exclusive deal with beauty retail giant Ulta. Eventually, the products hit Ulta’s selves as well, creating a much-bigger distribution for fans. Ulta reported back in 2019 that the lip kits were virtually flying off the shelves, as it was the only brand to physically carry the kits in-store. Fast-forward to a year later and Jenner is given the title of "youngest billionaire" for the second year in a row by ‘Forbes.’

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