Kylie Jenner on Forbes cover for richest self-made women

Kylie Jenner poised to become youngest billionaire ever

Kylie Jenner set to become the youngest self-made billionaire on Forbes list

Forbes says these "Instagram-savvy makeup moguls", and specifically almost-billionaire Kylie Jenner, have ushered in a "new model of extreme fame leverage" that is "radically reshaping business, culture, and politics".

"Add to that the millions she's earned from TV programs and endorsing products like Puma shoes and PacSun clothing, and $60 million (R807 million) in estimated after-tax dividends she's taken from her company, and she's conservatively worth $900 million (R12.7 million), which along with her age makes her the youngest person on the fourth annual ranking of America's Richest Self-Made Women", writes Natalie Robehmed of Forbes.

Forbes reports that Jenner is the 27th-richest self-made woman in the United States, beating out the rest of her famous family. The current title holder is Facebook CEO Mark Zuckerberg who became a billionaire at age 23.

Being part of a family consisting of such powerful, influential women wasn't the easiest thing for Kylie when it comes to finding her passion. According to Forbes, she sold more than $630 million worth of makeup since its launch, including an estimated $330 million in 2017.

The 20-year-old's net worth has skyrocketed thanks to the success of Kylie Cosmetics.

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"Even using a conservative multiple, and applying our standard 20% discount, Forbes values her company, which has since added other cosmetics like eye shadow and concealer, at almost $800m". Jenner owns 100% of it.

"Social media is an unbelievable platform", Jenner told Forbes. There are only five full-time employees, with Jenner's mother, Kris, handling finances and PR in exchange for a 10% management cut.

Kylie Cosmetics is dealing with slowing growth - Forbes reports that revenue grew just 7% a year ago, with lip-kit revenue dropping an estimated 35%.

"The most successful women entrepreneurs in the country are increasingly taking advantage of technology including social media to help them launch and grow businesses", said Luisa Kroll, Forbes' assistant managing editor, wealth. Another year of growth will make her the youngest self-made billionaire ever.

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