Kylie Jenner is once again the world’s youngest self-made billionaire.
The 22-year-old makeup mogul 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.
She 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.
She "said, ‘I’m ready to put up my own money. I don’t want to do it with anyone else.'"
In 2019, the “Keeping Up with the Kardashians” star sold a 51% stake in Kylie Cosmetics to beauty giant Coty Inc. for $600 million.
Source: NY Post.
Photo Credit: Getty Images.