Forbes released the annual list on Tuesday, March 5, 2019. Jenner has amassed a personal net worth of $1billion through her wildly successful range of make-up, Kylie Cosmetics. She has now overtaken Facebook’s founder, Mark Zuckerberg who became a billionaire at 23.

She was surprised by the success of her cosmetics company which was only founded in 2015 but is now worth an estimated $900million.

“I didn’t expect anything. I did not foresee the future,” says Jenner, who is the youngest billionaire in the world. “But [the recognition] feels really good. That’s a nice pat on the back.”

This latest development is coming months after it was announced that Kylie was in a tie with music mogul, Jay-Z as the 5th wealthiest person in the world.

Kylie Jenner ties Jay-Z to become 5th wealthiest American celebrity of 2018

Kylie Jenner has become the 5th wealthiest American celebrity of 2018, the same position with Jay-Z. According to Forbes, the 21-year-old net worth of $900 million makes her a first-timer on the list. This list ranks the wealthiest American celebrities based on fortune they have amassed off their fame.

The list did not take into account stars whose wealth made their famous. Kylie Cosmetics which was launched two years ago, and has already shifted over $630 million in makeup products, according to Forbes. The line is so popular new products typically sell-out within minutes of their release.



Jenner said: “Social media is an amazing platform. I have such easy access to my fans and my customers.”

Her business, which she founded in 2015, employs just seven full-time staff and five part-time employees and is almost totally outsourced. Jenner comes up with ideas for styles but the products are made by Seed Beauty, a private-label producer.

Orders and sales are outsourced to Shopify, a Canadian online company that also runs shops for Drake and Justin Bieber.

Jenner trademarked the phrase “Kylie Lip Kits…for the perfect pout” two years before setting up her company with £190,000 of money she had made through modelling and reality TV work.

She said: “Ever since I was probably 15, I’ve been obsessed with lipstick. I could never find a lip liner and a lipstick that were the perfect match. So that’s where I thought of the idea that I wanted to create my own product.”

enner was scared that sales might not take off when the website first launched, adding: “I kept calling my mum, saying: ‘Mum, I’m so scared. Do you think it’s going to sell?’ Because I put all my money upfront. You know, it’s all my money. I put everything into this.”

Forbes found that the total combined wealth of the world’s billionaires is £6.6trillion – almost three three-times the gross domestic product (GDP) of the UK. But that was down from £6.9trillion last year and its research also found that the total number of billionaires had declined over the past year from 2,208 to 2,153.

The world’s richest person remains the Amazon founder and chief executive Jeff Bezos with a £100billion fortune - up £14billion on 2018. The increase was mostly due to its share price.

Bezos, 55, revealed in January that he was divorcing wife MacKenzie – a move that could see his fortune halved in future. Bill Gates, 63, co-founder of Microsoft took second-place in Forbes’ list with a £73billion fortune, up from £70billion last year.

American business magnate Warren Buffett, 88, is the third-richest with £63billion.