Make-up business mogul, reality star and influencer, Kylie Jenner, is becoming the youngest self-made billionaire ever, ahead of Mark Zuckerberg, who became a billionaire at age 23, according to Forbes.
Being in the spotlight with her famous family at such a young age, Kylie says she was always experimenting with beauty products, and felt passionate about makeup early on.
According to the outlet, Jenner has amassed $900 million dollars since launching the brand less than three years ago, which makes her the youngest person on the fourth annual ranking of America's Richest Self-Made Women.
The other $100 million of revenue comes from profits generated from her appearances on her family's reality show and other social media endorsements.
How did Jenner make her fortune? For comparison, Forbes estimates that Jenner's older sister Kim Kardashian West is worth roughly $350 million.
"Even using a conservative multiple, and applying our standard 20 percent discount, Forbes values her company, which has since added other cosmetics like eyeshadow and concealer, at almost $800 million".
Forbes' Natalie Robehmed details how Kylie Cosmetics has found success both by harnessing Jenner's vast social media following and slashing costs by outsourcing labor. "It could easily be an instant game-changing acquisition for any company on the hunt for a winning brand with a younger customer", senior VP or merchandising at Ulta Tara Simon said. Jenner has over 110 million followers on Instagram. Jenner is both the face of the company and the sole owner. There are only five full-time employees, with Jenner's mother, Kris Jenner, handling finances and public relations in exchange for a 10% management cut, the report says.
Jenner told Forbes 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.
While Kylie first made headlines this week for choosing to dissolve her lip fillers, the girl still loves makeup, and she shared with Forbes that Kylie Cosmetics was founded from her own journey to find her passion.