Kylie Jenner, 20, is the youngest person on the Forbes list of America’s Richest Self-Made Women, released Wednesday, with an estimated net worth of $900 million. Over the next year, Jenner is expected to become the youngest self-made billionaire ever. That's a title previously held by Microsoft co-founder Bill Gates in 1987 at age 31 and by Facebook co-founder Mark Zuckerberg in 2008 at age 23.
"Wow. I can't believe I'm posting my very own Forbes cover," Jenner writes in an Instagram post. "Thank you for this article and the recognition. I'm so blessed to do what I love every day. I couldn't have dreamt this up!" (She did, however, tell Complex Magazine in 2016, "It's my dream to be on Forbes.")
Her latest boost in wealth comes primarily from Kylie Cosmetics, her makeup company, valued at nearly $800 million. Kylie Cosmetics is projected to rake in $1 billion in lifetime sales by 2022, WWD reports. Jenner says that she plans to work on the company "forever" and then pass it down to her daughter, Stormi, who's currently five months old.
Some critics on social media have taken issue with the description of Jenner as self-made because she was born into wealth and fame. (Details about Forbes' methodology and criteria can be found here.) Either way, Jenner's entrepreneurial efforts are impressive. She's the most financially successful member of the Jenner-Kardashian family: Her older half-sister Kim Kardashian West, who just made the list for the first time, has an estimated net worth of $350 million.
Aside from Kylie Cosmetics, Jenner earns money from her paid app, the "Kylie Jenner Official App," as well as sales of merchandise from "The Kylie Shop," two apparel lines with sister Kendall Jenner, a book series, TV programs indulging "Keeping Up With the Kardashians" and "Life of Kylie," and partnerships with retail brands like Puma, Topshop and Quay Australia.
Jenner launched her beauty brand on November 30, 2015, with the $29 Kylie Lip Kit, a liquid lipstick with a matching lip pencil, which sold out in just minutes. Within 18 months, the company had made $420 million in sales. Her most successful launch to date was her 2016 holiday collection release, when the company made nearly $19 million in one day. For comparison, Kardashian West's first product launch from her new makeup brand KKW Beauty earned an estimated $14.4 million in sales. To date, KKW Beauty has made about $100 million in sales.
In any event, Jenner says she isn't too concerned about competition with Kardashian West, with whom she initially collaborated for Kylie Cosmetics, because they each reach a different demographic, she tells WWD. "She's, like, almost 20 years older than me. I feel like my makeup is definitely more young, fun. And it's just different," Jenner says.