Kylie Jenner Holds On to Youngest ‘Self-Made’ Billionaire Title for Second Consecutive Year
When releasing its annual billionaire list, Forbes reveals that the 22-year-old star of ‘Keeping Up With the Kardashians’ stays ahead of Norwegian heiress Alexandra Andresen.
- Apr 9, 2020
AceShowbiz – Kylie Jenner is still the youngest “self-made” billionaire in the world. Having earned the title for the first time back in 2019, the Kylie Cosmetics founder has managed to retain her crown for a second consecutive year as Forbes released its annual World’s Billionaires list on Tuesday, April 7.
According to the publication, the “Keeping Up with the Kardashians” star led her business venture to be valued at about $1.2 billion after agreeing to sell 51% of her beauty line empire to Coty Inc. for $600 million. The deal and the remaining 49% share of her company place her among only 2,095 people in the world with a ten-digit wealth.
Joining the 22-year-old reality star and businesswoman in the list of billionaires under the age of 30 are Norwegian heiresses Alexandra Andresen, Snapchat co-founder Evan Spirgel and Stripe co-founder John Collison. Each of them is worth $1.1 billion, $1.9 billion and $3.2 billion respectively.
Kylie first built Kylie Cosmetics in 2014 when she paid an outside company $250,000 to produce 15,000 lip kit, which were sold out within a minute at the time. In just a year, the company has reached the value at at least $900 million.
“I didn’t expect anything. I did not foresee the future,” the ex-girlfriend of Travis Scott (II) previously told Forbes of her 2019 title. “But [the recognition] feels really good. That’s a nice pat on the back.”
In another piece for Interview magazine, Kylie admitted she “never thought that this could happen.” She added, “I believed in Kylie Cosmetics but I didn’t even know what I was getting myself into. It feels amazing, it’s wild, and being the youngest ever to do it is a blessing. I now want to focus on giving back to people and doing things that I’m passionate about.”
However, the mother of one still faced backlash from others who insisted she could earn the title because of her famous family. “There’s really no other word to use other than self-made because that is the truth,” she noted. “I did not get money from my parents past the age of 15. I used 100% of my own money to start the company, not a dime in my bank account is inherited … and I am very proud of that.”
Tom Brady Trolled for Claiming He Doesn’t Back Donald Trump Politically