Kylie Jenner, 20, May Soon Be The World\'s Youngest Self Made Billionaire

On Wednesday, Forbes unveiled the cover of their August issue, showing the youngest Kardashian-Jenner on the cover

  • The magazine says the 20-year-old is 'set to be the youngest-ever self-made billionaire' after raking in  over $900million from her cosmetics line 

  • The mother-of-one launched Kylie Cosmetics in 2015, and sold out of her first products - the Kylie Lip Kit - in seconds 

  • The Kylie Lip Kit's popularity started a liquid matte lipstick trend in the industry 

  • Since then, Kylie has expanded the line to include a whole range of make-up products including concealer, highlighters and eye shadow 

  • By Heidi Parker For Dailymail.com

    Published: 14:44 BST, 11 July 2018 | Updated: 20:06 BST, 11 July 2018

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    Kylie Jenner has been revealed to be the richest member of the Kardashian-Jenner family. 

    On Wednesday, Forbes magazine unveiled their August issue, showing the 20-year-old reality-star-turned-beauty-mogul on the cover for an issue focused on 'America's Women Billionaires'.

    According to the magazine, Kylie - who is set to turn 21 on August 10 - is currently worth an estimated $900million thanks to her cosmetics line. 

    Once she crosses the $1billion mark, she will unseat Facebook's Mark Zuckerberg as the youngest-ever self-made billionaire. 

    Scroll down for video 

    Definition: The cover of Forbes declared her an almost self-made billionaire, a definition that rubbed many the wrong way online 

    Money mama: Kylie Jenner is the richest member of the Kardashian- Jenner family. And on Wednesday the 20-year-old reality TV star turned makeup mogul was touted by Forbes magazine for also being one of the richest, self-made young people on the planet

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    Kylie Jenner isn't just a pretty face.

    But because of her pretty face and skill with make-up she's made herself a billionaire. That's very good going for someone who isn't actually old enough to legally drink alcohol in the states.

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    The daughter of Kris Jenner, 62, gave her low-cut gowns a rest to pose for the cover, opting instead for business chic in a dark blazer with her long locks pulled back.  

    WHAT ARE THE OTHER KARDASHIAN-JENNERS WORTH ?

    Kris Jenner: $60million

    Caitlyn Jenner: $100million

    Kourtney Kardashian: $35million 

    Kim Kardashian-West: $350million

    Khloe Kardashian: $40million

    Kendall Jenner: $18million

    In the story accompanying the cover, Forbes said they estimate that Kylie Cosmetics has raked in $630million since it launched in 2015. 

    '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 nearly $800 million. Jenner owns 100% of it.

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

    According to the article, Kylie employs just seven full-time and five part-time employees at her company, outsourcing production and sales. 

    As with all of her kids, Kris handles her daughter's finance's and public relations for a 10 per cent fee. Last year, that meant Kylie paid her mom $17million.

    Kylie talked about launching the business in a beauty video for Vogue in June.

    Forbes Privacy Policy

    Buy my stuff! The raven-haired beauty is worth $900m and soon she will cross the billion dollar mark (pictured pushing her new summer collection) 

    Buy my stuff! The raven-haired beauty is worth $900m and soon she will cross the billion dollar mark. Here she is seen in a Tuesday post pushing her summer collection

    Bold colors: The beauty also posed in this racy orange outfit to push the new shades

    Bold colors: The beauty also posed in this racy orange outfit to push the new shades

    Just the facts, ma'am: Kylie Cosmetics is a cosmetic company owned by Kylie and was formerly known as Lip Kits By Kylie. It was founded and renamed Kylie Cosmetics in 2016

    Just the facts, ma'am: Kylie Cosmetics is a cosmetic company owned by Kylie and was formerly known as Lip Kits By Kylie. But the company was founded and renamed Kylie Cosmetics in 2016 after the release of the liquid lipstick and lip liner set, the Kylie Lip Kit, in 2015

    In the video, she says she had been thinking of starting her own cosmetics company for awhile.  

    She says her mother was cautious about the ordeal, saying she would have to put up her own money to fund the venture. 

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    'I had Kylie Lip Kit trademarked like two years before it even launched and I was like bugging my mom about it. I see it, like, I need to do this. 

    'She was like "Okay, put up your own money, like stop talking about the Lip Kit." And then I didn't even order a lot and I was like "Okay, if this doesn't work out you're gonna have, like, a lot of Lip Kits in your garage,"' she recalled.

    Kylie decided to take the risk, and it paid off immediately. 

    Here Kylie is seen with her baby daughter Stormi And the star is seen in May at eh Met Gala with beau Travis Scott

    Kylie recently welcomed a baby girl named Stormi (mother and daughter pictured left) with rapper Travis Scott (couple pictured on the right) 

    Last year, Kylie splashed out on this $9.9million home in Hidden Hills, California. Recent reports suggest she's building another compound in the town 

    Last year, Kylie splashed out on this $9.9million home in Hidden Hills, California. Recent reports suggest she's building another compound in the town 

    'I didn't even make it to my launch party. I like refreshed the page and in two seconds everything was gone and like I just remember me and all my glam people, my friends, we were like screaming. 

    'And then the Kylie Instagram used to be Kylie Lip Kit and then the day after I changed it to Kylie Cosmetics and I was like "This is like gonna be something, like, I can actually do, yeah,' Kylie said.  

    Finding a business she could run was a big moment for the youngest Kardashian-Jenner. 

    Having watched her mother help start a modelling career for her sister Kendall, a sock business for her brother Rob, and an online game for her sister Kim, Kylie says she felt adrift. 

    Kylie, far right, is now the richest person in her family by a long shot. The members of the Kardashian-Jenner clan, excepting brother Rob, are pictured above in 2016. From left to right: Kris, Khloe, Kendall, Kourtney, Kim, Caitlyn and Kylie. Also pictured in front is North West, Kim's eldest daughter 

    Kylie, far right, is now the richest person in her family by a long shot. The members of the Kardashian-Jenner clan, excepting brother Rob, are pictured above in 2016. From left to right: Kris, Khloe, Kendall, Kourtney, Kim, Caitlyn and Kylie. Also pictured in front is North West, Kim's eldest daughter 

    'I struggled for a minute with finding something to do on my own,' she told Forbes.

    But she quickly found inspiration in her life long obsession with make-up. 

    'Ever since I was in sixth grade, I would wear purple eye shadow,' Kylie said. 'I turned to makeup to help me feel more confident.' 

    She honed her make-up skills through YouTube videos, and when she felt self-conscious about her thin lips, she used lip liner to overdraw her lips and make them look larger. 

    She also got fillers, but initially denied getting plastic surgery, which caused a bit of scandal around the time that she launched her company. 

    Earlier this week she revealed she had taken her lip fillers out.  

    The $29 Kylie Lip Kits debuted in November 2015 and sold out within seconds. The Kylie Lip Kits went on to start a general trend in the industry for liquid matte lipsticks, with both drug- and department-store brands quickly going to market with similar products.   

    The timing of the article is perfect for Kylie as she is launching her summer collection on Friday.  

    Jenner is also a new mother: she welcomed daughter Stormi with rapper Travis Scott in February.

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