Kylie Jenner is youngest self-made billionaire in the world, aged only 21

The reality star and makeup tycoon is only 21

Kylie Jenner is the youngest billionaire in the world at the age of 21, Forbes has announced.

The magazine shared the reality star and makeup mogul’s impressive title on Tuesday, with the release of its annual ranking of richest people in the world.

In addition to the youngest billionaire in the world, the youngest sibling of the Kardashian/Jenner clan was also named the “youngest self-made billionaire of all time”.

According to Forbes, the CEO and founder of Kylie Cosmetics – who owns 100 per cent of the company – made the list due to the success of her cosmetics company, which she launched in November 2015 with $29 (£22) lip kits and is now estimated to be “worth at least $900m” (£684m).

In the last year, Kylie Cosmetics’ revenue increased by “nine per cent to an estimated $360m (£274m)”, according to the magazine, in part due to a recent cosmetics deal with beauty retailer Ulta which saw Jenner’s lip kits sold in more than 1,000 Ulta stores across the US.

The cosmetics company’s growth also means Jenner overtook the previous youngest self-made billionaire, Mark Zuckerberg, who was 23 when he held the title in 2006.

In addition to the success of her cosmetics line, which has expanded to include eye shadow palettes, setting powders, concealers, and bronzers since it was first launched, Jenner also receives income from her family’s reality TV show Keeping Up with the Kardashians.

According to Forbes, Jenner’s estimated net worth of $1bn places her at 2,057 on 2019’s list of 2,153 billionaires.

Of the accomplishment, the reality TV star told the magazine: “I didn’t expect anything. I did not foresee the future.

“But [the recognition] feels really good. That’s a nice pat on the back.”

After it was announced last year that Jenner would likely take the title of “youngest self-made billionaire”, Forbes defended the mogul after people questioned if the Kardashian/Jenner sister really qualified as “self-made”.

In a statement to CNN in 2018, Forbes recognised that Jenner had received help from her family in terms of initial fame, but confirmed that her success as a business owner was solely her own.

Acknowledging that “there are many who are more self-made than others”, Forbes added: “Yes, Kylie comes from a wealthy family and she got a visibility boost from her family but she owns her company and is valued based on earnings she has personally received and on the value of the company she founded.”

Jenner also defended her status, recently telling Paper Magazine that she was cut off at the age of 15 and “spent every last dime” of hers to start her company.