Forbes Magazine has named 22-year-old Kylie Jenner the youngest self-made billionaire for the second time in a row.
Addressing the controversy surrounding the ‘self-made’ title with many arguments saying Kylie was born into a wealthy family, Forbes stated that Kylie did not inherit her business. She established her own cosmetics brand which qualifies her as a Self-made billionaire
The topmost business magazine 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).”
Ms. Jenner set a new record when she became the youngest billionaire at the age of 21, unseating Facebook CEO who joined the youngest billionaire’s list at 23 after creating the social app.
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To retain her youngest billionaire title, Kylie Jenner sold 51% of her beauty brand, Kylie Cosmetics to beauty giant Coty Inc. for $600 million which has increased the value of her business to a whopping $1.2 billion.
Here is a list of the world’s 10 Youngest Billionaires according to Forbes
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: SnapChat
9. Pedro De Godoy Bueno, 29
Net worth: $1.1 billion
Source of wealth: Diagnostic services
10. Lisa Draexlmaier, 29