- Kylie Jenner, 21, is the youngest self-made billionaire, Forbes reported on Tuesday.
- Forbes estimated that Kylie Cosmetics, the company she runs and owns, is worth $US900 million. That and the cash she has already pulled in from the business brings her to billionaire status, Forbes said.
- Some took issue with Forbes describing Jenner, whose ritzy upbringing was documented on “Keeping Up With the Kardashians,” as “self-made.”
Kylie Jenner has been crowned the youngest self-made billionaire, and it has sparked an outcry online.
After saying last year that Jenner was on her way to becoming a billionaire, Forbes reported on Tuesday that the 21-year-old had finally achieved billionaire status thanks to 9% revenue growth in her $US900 million business, Kylie Cosmetics, in 2018, fuelled by a partnership with Ulta that brought her products to its more than 1,000 US stores.
“Add in the cash Jenner has already pulled from the profitable business, and the 21-year-old is now a billionaire, with an estimated fortune of $US1 billion,” the Forbes reporter Natalie Robehmed wrote. “She’s the youngest-ever self-made billionaire, reaching a ten-figure fortune at a younger age than even Mark Zuckerberg (who was 23 when he hit that mark).”
But some people took issue with Jenner being described as “self-made,” given her glitzy upbringing.
Jenner is the daughter of Kris Jenner – who was previously married to the prominent lawyer Robert Kardashian – and the famed Olympian Caitlyn Jenner. Her upbringing was documented in the reality-TV show “Keeping Up With the Kardashians.”
Come on Kylie Jenner was born into wealth and privilege. Her fame and fortune came from trading on her sister's name.
— ArdentNegress (@vee3tham) March 5, 2019
“Breaking: Kylie Jenner is the youngest-ever self-made billionaire.” pic.twitter.com/QiEDuKtg2d
— KATIE (@katieliza92) March 5, 2019
You were born rich. You just made the correct moves with the money you were born into.
You are not self-made.
You're welcome for having cleared up any confusion.
— jenniedelicious (@jenniedelicious) March 5, 2019
Kylie Jenner is not “self made”. Even if she didn’t have money from her parents and family or whatever. She already had a platform and so many people knew her before she started making money.
— ffion☄️ (@milleniumfalccn) March 5, 2019
That’s not self made though. She got that one million from SOMEWHERE. Most people can’t get loans like that so to imply that she started off with nothing is disingenuous.
— Iseah Hurtado (@IseahHurtado) March 5, 2019
Jenner’s net worth has skyrocketed thanks to the success of Kylie Cosmetics, which Forbes conservatively valued at $US900 million, with an estimated $US360 million in revenue last year. Jenner is both the face of the company and the sole owner.
Further, Forbes’ “self-made” designation is not a value judgment, but a way to distinguish between extremely rich people who inherited wealth and those whose fortune was made primarily in other ways.
“We consider any person who built her own fortune, and didn’t inherit the money, to be self-made,” Forbes previously said of its methodology. “So top executives at tech firms who are compensated for helping significantly grow companies make the ranks but not second-generation women running family businesses.”
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