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Kylie Jenner Takes Mark Zuckerberg's Spot as the Youngest Self-Made Billionaire

Reality TV star turned makeup mogul Kylie Jenner took over Mark Zuckerberg's place as the world's youngest self-made billionaire. She's 21 years old, beating out the Facebook tycoon by three years. Zuckerberg was 23 years old when he reached the $1 billion mark. Jenner ranked 2,057 out of 2,153 on Forbes's 2019 list of the wealthiest people in the world.

Thanks to the famous Kylie Cosmetics, Jenner has a net worth of $1 billion. The empire, worth an estimated $900 million, launched four years ago.

"I didn't expect anything. I did not foresee the future," Jenner told Forbes for their Tuesday report. "But [the recognition] feels really good. That's a nice pat on the back."

Orginally, Jenner's products could only be bought online, but partnering up with Ulta Beauty stores last November made catapulted her into the mainstream, making it easier for younger fans (who may not have credit cards) get their hands on Jenner's ever-popular lip kits. The exclusive collaboration caused a 9 percent climb in revenue last year for Kylie Cosmetics after Ulta sold $54.5 million worth of Kylie Cosmetics products in six weeks.

The retail price of Jenner's lip kits is $29. Kylie Cosmetics has also released a line of lip kits, eyeshadows, highlighter, blushes and bronzers.

The Keeping up with the Kardashians star told Paper last month that she never received any education on how the beauty business worked. Lipsticks were her "obsession." When creating her brand, she created a product she would want to buy.

"I just knew for myself as a customer, like, why am I buying a lip liner and a different lipstick? I wanted it the same color, I wanted it to be easy," she said. "And I really spent every last dime that I had starting it, not even knowing if it would be successful."

The company capitalizes on social-media based advertising. Jenner shares new products on Snapchat, Twitter, Facebook and to her 124 million followers on Instagram— currently the sixth most followed personal account. Up until an egg broke her record last month, she had the most liked picture on Instagram.

Her social media influence is undeniable. The first three shades the Kylie Jenner lip kit sold out in 30 seconds the day it was launched in November 2015, according to Buzzfeed's 2015 report.

"It's the power of social media," Jenner says. "I had such a strong reach before I was able to start anything."

Last year, Jenner received backlash over Forbes's prediction that she would be the youngest self-made billionaire in a year. The youngest of the Kardashian-Jenner clan defended her "self-made" title to Paper last month after receiving public backlash.

"My parents told me I needed to make my own money, it's time to learn how to save and spend your own money, stuff like that," she said. "What I'm trying to say is I did have a platform, but none of my money is inherited."

Family drama also translates to sales. Late last month, Jenner cut down the price of the lip kit named after longtime best friend Jordan Woods after her affair with Tristan Thompson, sister Khloé Kardashian's boyfriend. The lip kit, "Jordy," sold out after two days.

Though Mom and manager Kris Jenner are open to exploring possibilities of selling the company, Jenner intends to bring more of her products to Ulta.

"I see it going very far," she said. "I work really hard."

Kylie Jenner Takes Mark Zuckerberg's Spot as the Youngest Self-Made Billionaire | Culture