Kylie Jenner beats Mark Zuckerberg to become Forbes' youngest self-made billionaire
Kylie Jenner's thriving cosmetic brand, founded three years ago was one of the main contributing factors behind her claiming this spot
Kylie Jenner has been named the youngest self-made billionaire of all time by Forbes magazine. As per an article in the magazine, the entrepreneur's thriving cosmetic brand, founded three years ago was one of the main contributing factors behind her mammoth success.
Kylie's induction into the list of billionaires comes after after she launched her make-up line in 2015 and her lip-kits became a rage all over the world.
— Forbes (@Forbes) March 5, 2019
Forbes states that the 21-year-old is the youngest ever self-made billionaire. The fashionista also managed to beat Facebook CEO Mark Zuckerberg, who was 23 when he set the benchmark.
Kylie Cosmetics sold merchandise worth $508 million in the past year. Kylie, who is also the half sister of reality television personalities Kim, Khloe and Kourtney Kardashian, has 100 percent stakes in the company. The report further adds that her company has minimal overhead costs with only seven full-time employees and five part-time ones. The manufacturing and packaging is outsourced to Seed Beauty.
Brand endorsements and television appearances like Keeping Up with the Kardashians bring in more revenues for Kylie.
However, critics question the self-made tag attached to the Forbes copy.
I like this tweet because
- it illustrates the problem is getting even worse
- it insults Mark Zuckerberg, which gave me a chuckle
- "self-made" gave me another chuckle https://t.co/fT8zyOfHUY
— Every Billionaire Is A Policy Failure (@DanRiffle) March 5, 2019
Only in the United States is it accurate to describe Kylie Jenner as "self-made." https://t.co/PRBcFMKTD0
— Helaine Olen (@helaineolen) March 5, 2019
Me trying to figure out how Kylie is "self-made" pic.twitter.com/gqLuOZftfG
— KayinKira (@heimkayi) March 5, 2019
Haven't we gone over this?
— Dictionary.com (@Dictionarycom) March 5, 2019
Amazon chief executive Jeff Bezos has topped the list this year. His net worth shot up to $185 billion from $158 billion in 2018. Microsoft co-founder Bill Gates has been second on the list with an estimated worth of $136 billion, up from $127 billion last year. Mark Zuckerberg has dropped down by three places to number eight.
Take a look at the complete Forbes here.
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