Forbes released the annual World’s Billionaires list on Wednesday and beauty mogul Kylie remains the planet’s youngest self-made billionaire at aged 22.
In 2019, the star unseated Facebook’s Mark Zuckerberg, 35, as the youngest-ever self-made billionaire – he was 23 when he made his first billion 11 years ago in 2008.
Despite the controversy that she had a hand-up from her famous family, her fortune is from her cosmetics brand which she did not inherit and built herself.
The mom-of-Stormi Webster is worth $1.2 billion after launching Kylie Cosmetics.
She first made it onto the billionaires list in March 2019, then further cemented her spot in November last year, when she agreed to sell 51% of her Kylie Cosmetics to beauty giant Coty Inc. for $600 million.
The deal, which closed in January, means her business is now valued at around $1.2 billion. She still solely owns the other 49 percent stake.
Cash from the sale and her remaining 49% share of the company make Jenner one of just 2,095 people in the world with a ten-digit fortune, according to Forbes.
The star isn’t just keeping it all for herself – she recently announced that she’s teaming with her brand partner Coty to produce hand sanitizer for those in need during the current pandemic.
Forbes also addressed the controversy that surrounds the title ‘self-made’ after people argued that Kylie came from an already privileged background. They wrote: ‘ 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).’
Also on the list of young billionaires are sisters Alexandra and Katharina Andresen, aged 23 and 24, who both are worth $1.2billion and $1.1billion respectively.
The Norweigan sisters are heiresses to their father’s holding company, Ferd S.
Meet the world’s top 10 youngest billionaires.
- Kylie Jenner, 22
Net worth: $1billion
Source of wealth: Cosmetics
- Alexandra Andresen, 23
Net worth: $1.2billion
Source of wealth : Investment firm
- Katharina Andresen, 24
Net worth: $1.1billion
Source of wealth: Investment firm
- Gustav Magnar Witzoe, 26
Net worth: $2.6billion
Source of wealth: Fish farming
- Elizabeth Furtwaenger, 28
Net worth: $1.2billion
Source of wealth: Publishing
- Jonathan Kwok, 28
Net worth: $2billion
Source of wealth: Real estate
- John Collison, 29
Net worth: $3.2million
Source of wealth: Stripe
- Evan Spiegel, 29
Net worth: $1.9billion
Source of income: Snap
- Pedro De Godoy Bueno, 29
Net worth: $1.1 billion
Source of wealth: Diagnostic services
- Lisa Draexlmaier, 29