Yesterday Kylie Jenner was named the world's youngest self-made millionaire according to Forbes billionaires' list. The youngest of the Kardashian clan is the owner and founder of Kylie Cosmetics, which Forbes estimate is worth at least $900 million. According to Forbes, due to the success of the company and minimal business overheads, the 21-year-old is now a billionaire, with an estimated fortune of $1 billion.
This makes Kylie the youngest self-made billionaire by reaching a ten-figure four fortune at only 21, younger the Facebook founder Mark Zuckerberg, who hit this milestone at 23.
The term "self-made" is the topic of much debate, with dictionary.com even weighing in on the debate with the hilarious tweet.
Haven't we gone over this?
— Dictionary.com (@Dictionarycom) March 5, 2019
Many have also taken to Twitter to share their reaction and view on the self-made debate.
— Nicole Perez (@nicole_perez1) March 6, 2019
— Undead Noir (@dj_daem0n) March 6, 2019
In an interview with Paper from February, Kylie asserts that she is self-made as her parents "cut her off at the age of 15". She acknowledges that she did have a platform but none of her money is inherited from her rich family. Kylie attributes her success with the power of social media. You might remember up until recently when she was beaten by an egg, Kyle held the record for the most likes on an Instagram post.
When she launched her business Kylie Cosmetics in 2015 she already had a huge social media following. Marketing for the brand is all done through her social media channels keeping costs down. The Kylie Cosmetics empire consists of only seven full-time and five part-time staff, manufacturing and packaging is outsourced and 'momager' Kris Jenner is in charge of Finance and PR.
When speaking to Forbes about this achievement Kylie remained humble:
I didn’t expect anything. I did not foresee the future, “But [the recognition] feels really good. That’s a nice pat on the back.
Whether you think she is self-made or just privileged, you have to hand it to her she's done well for herself. While the majority of 21-year-olds are checking down the side of the couch for spare change for the price of a pint, Kylie has built an empire on selfies.