Forbes' annual ranking of America's richest self-made women has been announced, and four new faces on the list are cosmetic moguls. The richest among them is Anastasia Soare of makeup brand Anastasia Beverly Hills, which is known worldwide for its eyebrow products. The youngest is the issue's cover star, Kylie Jenner, who is the CEO and sole owner of Kylie Cosmetics.
According to the magazine's cover story, Kylie's company is valued at nearly $800 million. Combining that with her brand endorsement earnings and after-tax dividends from her company, they estimate her worth to be at least $900 million dollars—all achieved within a span of three years.
Having all this at age 21, Forbes claims that Kylie is set to be the youngest self-made billionaire in history this year. She's on her way to breaking the record of Facebook's Mark Zuckerberg, who made his first billion at the age of 23. They note that her fortune is worth even more than her half-sister Kim Kardashian, who's reported to be worth $350 million.
Kylie's leverage on social media is one of the biggest reasons for her cosmetics company's success. One of her biggest platforms is Instagram, which as of writing, has over 110 million followers. Meanwhile, her brand's account boasts of over 16.5 million followers. "Social media is an amazing platform. I have such easy access to my fans and my customers," she tells the magazine.
She reveals more about what happens behind the scenes at the brand in her interview, including how she only has seven full-time employees and five who work part-time thanks to her partnerships with Spatz Laboratories and Seed Beauty.
That said, who knows where Kylie will be at 22? Perhaps we'll just have to wait and see.
See Forbes' complete annual list here.