Jenner became a star thanks to her family's reality TV show, Keeping Up with the Kardashians, but it was when she branched out into beauty, creating the Lip Kits under her Kylie Cosmetics banner, that she really made big bucks. Using its standard formulation, Forbes values the company at $800 million, and Kylie is the sole owner.
Another year of growth would make her the youngest self-made billionaire ever, beating Mr Mark Zuckerberg, who crossed the threshold at the age of 23. Zuckerberg now holds the record after passing the threshold at 23.
"I struggled for a minute with finding something to do on my own", she told the magazine, before eventually locking down seven-figure modeling gigs and endorsement deals with high-profile retailers at the behest of her "momager" Kris.
Jenner said she got the idea to launch her signature "lip kits" because she loved putting on lip liner as a teenager. Jenner owns 100 per cent of it. She has more than 110 million followers on Instagram and millions more on Snapchat, and the audience is made up mainly of young women and girls-her company's core customer base.
If Jenner keeps this up, she's expected to make history by becoming the youngest self-made billionaire of both men and women within the next year.
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"Social media is an awesome platform", Jenner said in an interview with the magazine.
"Calling Kylie Jenner "self-made" is like calling McDonald's "homemade" stop this madness", a user said on Twitter. Kylie Cosmetics' overhead costs are very low, Forbes points out, making her profit margin very, very high. Her mother had the foresight to grow it into a full makeup line and ongoing business. At 20 years of age, the youngest of the Kardashian-Jenner sisters already has plenty of titles to her name.
"Maybe one day [I'll] pass this on to Stormi, if she's into it", she said.
While her fans have showered her with nothing but kind words since the magazine's debut, according to a recent report by Hollywood Life, Jenner is apparently "being bullied" by critics who don't believe she deserved the honor in the first place.