Kylie Jenner set to be the youngest-ever self-made billionaire

Kylie Jenner poised to become youngest billionaire ever

When Jenner chose to go into the beauty business, and make a career out of her biggest insecurity, she already had a massive number of followers to sell to.

Thanks to the massive success of her cosmetics lines, the 20-year-old reality star came in at #27 on the magazine's "America's Richest Self-Made Women" list, outranking sister Kim Kardashian-West (54), Beyonce (53), Madonna (36) and Taylor Swift (60.).

"Even using a conservative multiple, and applying our standard 20 percent discount, Forbes values her company, which has since added other cosmetics like eyeshadow and concealer, at almost $800 million". Using its standard formulation, Forbes values the company at $800 million, and Kylie is the sole owner. In comparison, sister Kim Kardashian is estimated to be worth around $350 million.

Kylie Jenner is not only the youngest member of the Kardashian-Jenner clan, she's also on her way to becoming the youngest self-made billionaire.

And while billionaires like Zuckerberg and Snapchat's Evan Spiegel made their fortunes creating social media platforms, Kylie is making hers by leveraging them.

The young mum credits social media for her success, as she told Forbes: 'Social media is an unbelievable platform. With no real marketing budget beyond her social strategy, Kylie has revolutionized the way brands - beauty ones in particular - create products and interact with their fans.

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That's when the makeup-obsessed teen made a decision to launch her own company.

"I struggled for a minute with finding something to do on my own", she tells Forbes. "I turned to makeup to help me feel more confident".

"I said, 'I'm ready to put up my own money". I couldn't have dreamt this up! "It could easily be an instant game-changing acquisition for any company on the hunt for a winning brand with a younger customer", senior VP or merchandising at Ulta Tara Simon said. "I don't want to do it with anyone else, '" Jenner said, adding that she used $250,000 of her savings from past modeling gigs to make her first 15,000 lip kits.

But in a classic 21st century move she then confirmed the release date the day before it went on sale - and the kits sold out in less than a minute.

"Before I even refreshed the page, everything was sold out", Jenner said.

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