Forbes magazine declared as much in its annual billionaires list, published Tuesday. Having accumulated an estimated $1 billion by age 21, Kylie Jenner, celebrity-turned-makeup mogul became the world’s youngest self-made billionaire 2019.
Jenner is a founder of Kylie Cosmetic and a member of the Kardashian-Jenner clan. With the success of her cosmetics line, Kylie Cosmetics, Kylie Jenner has officially surpassed Mark Zuckerberg as the youngest self-made billionaire by the age of 21, according to Forbes. She ranks No. 2,057 on a list of 2,153. Amazon founder Jeff Bezos, who independently owns The Washington Post, and Microsoft co-founder Bill Gates still hold the top two spots.
She was born in 1997 to Olympic gold medalist Caitlyn Jenner and Kris Jenner of US. She started out peddling $29 lip kits in 2015 and sold an estimated $360 million worth of Kylie Cosmetics in 2018. In November 2018, Jenner launched a distribution deal with beauty retailer Ulta and sold an estimated $55 million of product in just 6 weeks.
After Forbes’ declaration Jenner as a self-made billionaire, some criticized The Forbes on their twitter.Dictionary.com and the internet also disagree it.
“I’m sure Kylie Jenner works hard, but she is not ‘self-made,’ and we should all stop comparing our successes in our fields to the successes of people who come from wealthy, connected families cos the playing field is at 90 degrees,” went one tweet.
Said another: “Kylie Jenner is not a ‘self-made billionaire’ her family was already worth millions and incredibly famous. All she did was leverage her fame, fortune and family name.”
“To be clear, Forbes defines self-made as someone who built a company or established a fortune on her own, rather than inheriting some or all of it,” Forbes wrote.
“Self-made traditionally meant starting out with very little and generating wealth and success through your own effort and initiative,” says Neil Saunders, managing director of the retail consultancy Global Data.
“The definition is now more complex than it used to be. However, I think for most people the meaning is still quite true to the original. It’s why the question of whether someone who has started life with significant advantages can be described as being truly self-made.”
“I think being self-made is still part of the American dream,” Saunders says.
There are a lot of people who use the term although they are arguably less entitled to say they are truly self-made. It sounds goods and provides some justification for their wealth, which is likely why they use it.
Jenner, who comes from a wealthy family, has leveraged her 177 million social media followers to create her own billion-dollar fortune.