Ogbeta.ng: Kylie Jenner, 22, is Forbes' youngest 'self-made' billionaire for the second year in a row after selling off 51% of her cosmetics brand

Wednesday, 8 April 2020

Kylie Jenner, 22, is Forbes' youngest 'self-made' billionaire for the second year in a row after selling off 51% of her cosmetics brand


Forbes has released the annual World’s Billionaires list and beauty mogul Kylie Jenner was named youngest 'self-made' billionaire for the second year in a row at the age of 22.


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.

The deal, which closed in January, means her business is now valued at around $1.2 billion. She still solely owns the other 49 percent stake.

The site also reveals that money from the sale means she is one of just 2,095 people in the world with a fortune of ten digits.

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.

Meet the world's top 10 youngest billionaires.

1. Kylie Jenner, 22 Net worth: $1billion Source of wealth: Cosmetics

2. Alexandra Andresen, 23 Net worth: $1.2billion Source of wealth : Investment firm

3. Katharina Andresen, 24 Net worth: $1.1billion Source of wealth: Investment firm

4. Gustav Magnar Witzoe, 26 Net worth: $2.6billion Source of wealth: Fish farming

5. Elizabeth Furtwaenger, 28 Net worth: $1.2billion Source of wealth: Publishing

6. Jonathan Kwok, 28 Net worth: $2billion Source of wealth: Real estate

7. John Collison, 29 Net worth: $3.2million Source of wealth: Stripe
8. Evan Spiegel, 29 Net worth: $1.9billion Source of income: Snap

9. Pedro De Godoy Bueno, 29 Net worth: $1.1 billion Source of wealth: Diagnostic services

10. Lisa Draexlmaier, 29

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