PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - American model and socialite Kylie Jenner will be celebrating her 22nd birthday on fugitive businessman Jho Low's former superyacht Equanimity later this month.

According to entertainment news outlet TMZ, the founder of Kylie Cosmetics has rented the vessel, which has been renamed Tranquility, for the celebration.

Ms Jenner's birthday falls on Aug 10.

"We're told Tranquility will set the average Joe back around US$1.2 million... PER WEEK!!! Luckily, the birthday girl's worth a billion," TMZ wrote.

According to Forbes, Ms Jenner's net worth is estimated at US$1 billion (S$1.38 billion), making her the world's youngest billionaire.

TMZ noted that there was no word on who would be sailing onboard Tranquility with Ms Jenner. However, the ship can accommodate some 22 guests, and will have a 29-person crew waiting on them.

"We're told the party will hit ports somewhere in the Mediterranean, and we know big sisters Kendall and Kourtney are already over there," reported TMZ.

Jho Low, whose real name is Low Taek Jho, owned the Equanimity until it was confiscated by the Malaysian government.

The vessel was one of many luxury items seized by the government as part of its probe into money laundering in the 1Malaysia Development Berhad (1MDB) scandal.

The 91.5m-long superyacht is known to have a Turkish bath, swimming pool and a helicopter landing pad.

In February 2018, it was seized off the coast of Bali by Indonesia at the request of US authorities as part of a probe into the 1MDB scandal. The Indonesian government then handed over the vessel to Malaysia in August.

In April this year, Genting Malaysia Bhd purchased the superyacht for US$126 million.

After being grounded for about 16 months, the vessel, renamed Tranquility, made its first voyage on June 5 from Loyang offshore base in Singapore and arrived in Colombo on June 8.