Kylie Jenner Declared Youngest Self- Made Billionaire at 21

At only 21, Kylie Jenner, the founder of Kylie Cosmetics, has become the world’s youngest self-made billionaire after her company signed an exclusive partnership with Ulta Beauty Inc.

According to Bloomberg’s Billionaires Index, Kylie Jenner is worth 1.02 billion U.S. dollars. The index assumes that Kylie owns 90 percent of her company and credits the rest to her mother Kris Jenner, who takes a 10 percent management fee in exchange for handling public relations and finance.

She is the youngest ever self-made billionaire, reaching a ten-figure fortune at a younger age than even Mark Zuckerberg, who was 23 when he hit that mark.

Kylie founded her company, Kylie Cosmetics in 2015 which sold out minutes after she launched her lipstick kit collection. The company posted 360 million dollars of revenue last year, a 9 percent increase from 2017, according to Forbes.

Her empire consists of just seven full-time and five part-time employees. Manufacturing and packaging are outsourced to Seed Beauty, a private-label producer in nearby Oxnard, California. Sales and fulfillment are handled by online merchant Shopify.

Marketing is done mostly through social media, where Jenner has a massive following. She announces product launches, previews new items and announces the Kylie Cosmetics shades she’s wearing directly to the 175 million-plus who follow her across Snapchat, Instagram, Facebook, and Twitter.

Bloomberg values Jenner’s firm by comparing it with four publicly traded beauty lines: L’Oréal SA, Inter Parfums Inc., Estee Lauder Cos. and Elf Beauty Inc.

Bloomberg classifies people as self-made if they don’t inherit their wealth through marriage, death or bequests.