Move over Marc Zuckerberg and make way for Kylie Jenner, the youngest self-made billionaire of the world currently. All of 21, Kylie has been named the youngest-ever self-made billionaire by Forbes magazine. That is quite an achievement.
Kylie Jenner is the sole owner of a fortune of worth $900 million as estimated by the magazine. She has achieved this monumental success by using Instagram! Believe it or not, each of Kylie’s Instagram posts is worth about $1 million, according to Hopper HQ, and she has 128 mn followers in total in her account.
Kylie, like many women of our age, was always active on social media and she devised a method to productively use her social media account to boost her business. Result? She has built a billion dollar fortune by age 21.
Jenner is the youngest person to become a billionaire with her own company Kylie Cosmetics and she has several other fellow billionaires to thank for her success.
According to Conor Begley, co-founder of Brand Marketing Company Tribe Dynamics, ““The business would not exist at its current size without social media,”
There are many other billionaires in the world who are younger than 45. People like Instagram co-founder Kevin Systrom, Snapchat co-founder Evan Spiegel, Facebook co-founder Mark Zuckerberg and Twitter co-founder Jack Dorsey are deemed to be the youngest billionaires in the world.
Jenner’s posts in Instagram include family photos and mirror selfies along with new product announcements or promotions for Blush, Lip Gloss and Eye Shadow.
Conor Begley, co-founder of Brand Marketing Company Tribe Dynamics further added, “ She is a unique case in that she has a massive, massive audience” , “that can be replicated for sure”, he added. He said this considering her sizeable fan base in both Twitter and Snapchat.
The other beauty moguls who became young billionaires include names like Rihanna (68.3 million Instagram followers),whose Fenty Beauty has joined hands with luxury-goods powerhouse LVMH. Then there is Huda Kattan (33.6 million followers), who gave up a finance job to excel as a make-up artist. She went on to start her own make-up brand Huda Beauty with her sisters in 2013 after her make-up blog becoming popular. The annual revenue of the company is now $200 million dollar.
Kylie told Forbes that this announcement is a “Nice pat on the back” . Kylie always had her mom, Kris Jenner by her side who helped her build the business. However, the self-made tag given by Forbes is being called into question by the detractors because the Kylie-Kadarshian family was already rich and famous.
Forbes has cleared the air saying that Kylie hasn’t inherited any business or money so the self-made tag is justified.