US-based model and beauty mogul, Kylie Jenner has just been named Forbes’ youngest ‘self-made’ billionaire. The model who has made it to Forbes’ billionaire list for the second time in a row emerged as the youngest self-made billionaire with a total net worth of $1billion.
Kylie, 22 and a mother of one was able to unseat Facebook founder, Mark Zuckerberg, 35 as the youngest-ever self-made billionaire in 2019. Kylie retained her position on the list for the second time in 2020 after she had sold 51% share of her cosmetic brand to Coty Inc. for $600 million
The mother of one who unseated Facebook’s Mark Zuckerberg, 35, as the youngest-ever self-made billionaire in 2019, retained her position after she sold off 51% of her Kylie Cosmetics brand to beauty brand Coty Inc. for $600 million back in November 2019. After the deal was closed, her net worth rose to $1.2billion with her still owning a majority stake of the 49% of the cosmetic brand.
Forbes also addressed the controversy that surrounds the title ‘self-made’ after people argued that Kylie came from an already privileged background. They wrote: ‘ Yes, self-made (despite a lot of help from her famous family, she didn’t inherit her business—she built it). And yes, billionaire (she’s worth $1 billion).’
Also on the list of young billionaires are sisters Alexandra and Katharina Andresen, aged 23 and 24, who both are worth $1.2billion and $1.1billion respectively.
The Norweigan sisters are heiresses to their father’s holding company, Ferd S.
Below are Forbes’ youngest billionaire and their corresponding net worths
|Position||Name||Age||Net worth in USD||Business line|
|01||Kylie Jenner||22||1 Billion||Cosmetics|
|02||Alexandra Andresen||23||1.2 Billion||Investment|
|03||Katharina Andresen||24||1.1 Billion||Investment|
|04||Gustav Magnar Witzoe||26||2.6 Billion||Fish farming|
|05||Elizabeth Furtwaenger||1.2 Billion||Publishing|
|06||Jonathan Kwok||28||2 Billion||Real Estate|
|07||John Collison||29||3.2 Billion||Stripe|
|08||Evan Spiegel||29||1.9 Billion||Snap|
|09||Pedro De Godoy Bueno||29||1.1 Billion||Diagnostic|
|10||Lisa Draexlmaier||29||1 Billion||Auto Parts|