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Kylie Jenner on Forbes' list of the rich

Learn to pipe flowers onto cupcakes at a workshop by Yume Patisserie. Kylie Jenner made her fortune on her make-up line Kylie Cosmetics.
Kylie Jenner made her fortune on her make-up line Kylie Cosmetics.PHOTO: GETTY IMAGES

NEW YORK • She is currently not old enough even to legally drink alcohol in the United States.

So Kylie Jenner, who turns 21 next month, will have to settle for something else to toast her feat.

According to Forbes, the youngest member of the extended reality-TV Kardashian clan is on track to become America's youngest "self-made" billionaire.

Jenner, who gave birth to daughter Stormi in February, set up Kylie Cosmetics two years ago. It has already sold more than US$630 million (S$860 million) worth of make-up, the magazine said.

Forbes conservatively valued her company at US$800 million and raised her overall worth to US$900 million by throwing in earnings from television shows, endorsements and after-tax dividends.

Jenner, who owns 100 per cent of the company, is the youngest person on Forbes' list of richest self-made US women.

Another year of growth would make her the youngest self-made billionaire, beating Facebook co-founder Mark Zuckerberg, who crossed the threshold at age 23, reported Agence France-Presse.

"Thank you @Forbes for this article and the recognition. I'm so blessed to do what I love every day," she tweeted.

Her success has been attributed to her fame and ability to leverage on social media. She has more than 110 million followers on Instagram, 25.6 million on Twitter and 16.4 million follow her company directly.

But not all netizens think she is worthy of the self-made recognition. The BBC cited a person who posted: "Self-made? Really? It's easy to become a billionaire when your parents are millionaires."

The reality-show star is the youngest daughter of 1976 Summer Olympics decathlon winner Caitlyn Jenner and TV personality Kris Jenner.

But others leapt to her defence.

"Hate all you want, the kid parlayed an Instagram following into a cosmetics empire," one of them posted.

Overall, Kylie Jenner is at No. 27 on Forbe's list, way ahead of Barbra Streisand (US$400 million), Beyonce (US$335 million) and Taylor Swift (US$320 million).

At No. 1 is Ms Diane Hendricks, who owns ABC Supply, one of the largest wholesale distributors of roofing, siding and windows in America.

 

A version of this article appeared in the print edition of The Straits Times on July 13, 2018, with the headline 'Kylie Jenner on Forbes' list of the rich'. Print Edition | Subscribe