Although Kylie Jenner is currently experiencing a lot of drama in her personal life, her business couldn't be going any better.
Although Kylie Jenner is currently experiencing a lot of drama in her personal life, her business couldn't be going any better.
On Tuesday, Forbes released the 33rd annual World’s Billionaires list, which included 21-year-old Jenner for the first time. The magazine officially names Jenner as both the youngest billionaire in the world and the youngest self-made billionaire of all time, with a net worth of $1 billion thanks to her massively successful Kylie Cosmetics business.
“I didn’t expect anything. I did not foresee the future,” Jenner says about how well her makeup line has done. “But [the recognition] feels really good. That’s a nice pat on the back.”
She also credits the success of her line to her social media influence. Jenner has 128 million followers on Instagram alone, where she constantly posts about her new products.
“It’s the power of social media,” Jenner explains. “I had such a strong reach before I was able to start anything.”
As for Kylie Cosmetics partnering up with beauty retailer Ulta and reportedly selling $54.5 million worth of products in just six weeks, Jenner is matter-of-fact about its success.
“I popped up at a few stores, I did my usual social media -- I did what I usually do, and it just worked,” she says.
While Jenner's $1 billion net worth is nothing to scoff at, she's actually ranked 2,057 on Forbes' list this year. Amazon's Jeff Bezos remains in the top spot for a second year in the row with a net worth of $131 billion, while Microsoft founder Bill Gates comes in at No. 2 with a net worth of $96.5 billion. Business magnate Warren Buffett rounds out the top three with a net worth of $82.5 billion.
Last July, ET spoke to Jenner's sister, Kim Kardashian West, when she defended Jenner after the makeup mogul appeared on the cover of Forbes magazine's America’s Richest Self-Made Women issue. Some critics took issue with Jenner's "self-made" title given her famous family.
"You know, everyone has a team, I don’t care who you are," Kardashian told ET. "But when you don’t get it from someone else, that's 'self-made.'"
"It’s not like that was handed to her," she added. "She figured that all out. I mean, we all have."
Jenner and Kardashian's mom, Kris Jenner, also recalled how her youngest child saved up to start her business.
"She made her own money for over a decade, she put it in the bank, she saved every nickel," Kris shared to ET at the time. "And then, when she decided on what she wanted to do, she spent her money on a venture that could have gone south or north, and it did really well."
But while Jenner celebrates her impressive new achievement, it's also been a trying time for her. Aside from the scandal that erupted last month when her best friend, Jordyn Woods, reportedly cheated with her sister Khloe Kardashian's now ex-boyfriend, NBA star Tristan Thompson, she's also now dealing with rumors that her boyfriend, rapper Travis Scott, has been unfaithful. Meanwhile, Scott has firmly denied the rumors. Watch the video below for more.
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