Special Feature

Kylie Jenner is the world’s youngest self-made billionaire, again

Kylie Jenner is once again the world’s youngest self-made billionaire.

The makeup mogul, 22, made Forbes’ 2020 World’s Youngest Billionaires list for the second year in a row, as her Kylie Cosmetics brand brought her net worth up to $1 billion.

Only two other entrants under 30 — Snap cofounder CEO Evan Spiegel and John Collison of payments startup Stripe, both 29 — are considered “self-made” billionaires according to the business mag.

Jenner told Forbes in 2018 that she invested $250,000 of her own money from modeling gigs in 2015 to pay an outside company to produce the first 15,000 lip kits that eventually launched into a full-fledged cosmetic line.

“I said, ‘I’m ready to put up my own money. I don’t want to do it with anyone else’,” Jenner said.

In 2019, the “Keeping Up with the Kardashians” star sold a 51% stake in Kylie Cosmetics to beauty giant Coty Inc. for $600 million.

More recently, the billionaire donated $1 million to help in the fight against coronavirus as it sweeps the globe. The money, which she donated to her OB-GYN, will help fund the cost of hundreds of thousands of masks, face shields, and other protective gear.

Source: PageSix

 

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