Kylie Jenner, 22, is Forbes youngest self-made billionaire for the second year in a row after selling off 51% of her cosmetics brand
Posted by E.L.E.X on April 08 2020 under Motivational
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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