Forbes Magazine has just named Kylie Jenner, 21, as the youngest self-made billionaire in the world.
Ms. Jenner is known for her company Kylie Cosmetics, which she founded in 2015. Kylie Cosmetics is valued at $900 million by Forbes, in which Jenner holds all of the shares. Adding in the cash Kylie has already taken in from the business, she is now a billionaire.
Jenner surpasses Mark Zuckerberg as the youngest self-made billionaire, as Jenner achieved this at the age of 21, while Zuckerberg was 23 when he made his first billion through Facebook.
Kylie’s business model has centered around utilizing her huge social media presence and until recently her products were sold completely online. She has recently partnered with Ulta to bring her products to 1000 stores around the US.
Jenner has surpassed her well-known sisters, including Kim Kardashian-West, in terms of financial success.
While Jenner is the youngest ever self-made billionaire, she follows in the footsteps of several other pioneers. Here are 5 other self-made women billionaires.
1. Oprah Winfrey
Oprah is estimated to be worth a whopping $2.9 billion. Despite growing up in poverty and under difficult circumstances, she had become one of the most well-known faces in America. Apart from being an immensely popular media mogul, that gained her much of her net worth, Oprah is also an accomplished actress and a philanthropist.
Oprah ranked sixth on Forbes’ list of America’s richest self-made women. She achieved great fame and respect during her aptly named, ‘The Oprah Winfrey Show’ which she produced through her company, Harpo Productions.
2. Diane Hendricks
According to Forbes, Diane Hendricks is worth $6.5 billion. She is the chairperson of ABC Supply, one of the largest wholesale distributors of windows, roofing and slides across the US.
Diane started this business with her late husband, Ken, 36 years ago and has been running it since his death in 2007. The company has over $9 billion in sales and operates in more than 700 locations.
3. Doris Fisher
Doris Fisher’s wealth is estimated to be around $2.7 billion. She started the popular clothing brand Gap, with her husband in 1969. The story goes, after failing to find jeans that fit her husband, Don, they cofounded the retailer Gap.
The couple were successful in raising $63,000 to open their first store in San Francisco. The company initially sold jeans and music before branching out into all forms of clothing. Gap went on to become one of the most popular clothing brands in America.
The company operates in more than 100 company-owned locations.
4. Carolyn Rafaelian
Rafaelian is the majority stake holder of Alex & Ani, a bangle brand, and is estimated to worth $1 billion. The brand is named after Rafaelian’s daughters and has found tremendous success.
5. Marian Ilitch
Worth an estimated $4.3 billion, Ilitch founded the popular pizza chain, Little Caesars. She established the company with her late husband, Mike, in 1959. Little Caesars now has sales of more than $4.5 billion a year.
Along with Little Caesars, Ilitch also owns the Detroit Red Wings and MotorCity Casino Hotel. Ilitch is also helping build a massive billion dollar sports and entertainment district in Detroit.