Home Personal Finance Kylie Jenner is on the Latest Billionaire List

Kylie Jenner is on the Latest Billionaire List

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Forbes hailed the young Jenner, 21 years old, as an official “self-made” billionaire this week. The official milestone of $1 billion happened on Tuesday.

This title differentiates very wealthy people who earned their way through their efforts and not through inheritance.

Kylie Jenner came after worldwide young billionaires such as Evan Spiegel and Mark Zuckerburg. She runs a cosmetics company called Kylie Cosmetics. This four-year company has a net worth of $900 million. The remaining $100 million came from her appearances on her family’s reality show called ‘Keeping Up With the Kardashians’.

The youngest Jenner attributes her success on the ‘power of social media’ in an interview. Her Instagram account has a massive amount of 128 million followers.

Other notable billionaires who acquired the status when they were 31 years old are Bill Gates and Larry Page.

There are only nine billionaires below the age of 30 amidst 2,208 billionaires documented on Forbes’ World’s Billionaires list. These exceptionally young billionaires had a total net worth of almost $18 billion in 2018. Among the nine below 30 billionaires, seven of them are self-made ones.

Sergey Brin was nearly 31 in 2004 when he achieved the status. The breakthrough of his financial life occurred during the launch of Google. This launch amounted to $27 billion.

Elizabeth Holmes achieved billionaire status in 2014. Before Kylie Jenner’s acquisition of the title, Holmes was the youngest female among below-30 billionaires. She had an estimated net worth of $4.5 billion at age 30. This amount is attributable to her blood-testing company named Theranos.

In a devastating turn of events in 2016, Theranos caused a drop in Holmes’ net worth due to accusations of fraud in the company.

Eduardo Saverin gained the billionaire status by being a Facebook co-founder. He achieved the billionaire status in 2010 thanks to his five percent share in the social media platform. He had conflicting interest with Zuckerberg and eventually separated ways.

Patrick Collison, a citizen of Ireland, was 28 years old when he joined the group of below 30 billionaires. Collison established Stripe, a company for online payments, with his brother John. This company caters to individuals and businesses for their payment needs. The brothers were studying in a college in Boston when they came up with the idea for the company.

His brother, John Collison, is two years younger than Patrick and also part of the list because of the $9.2 billion valuation from Alphabet’s investment division. John Collison is the current president of the payments software company. The company’s big-name investors consist of PayPal co-founder Peter Thiel and Elon Musk. An interesting trivia is that John is a Harvard University drop out like the famous Mark Zuckerberg.

Bobby Murphy is the social media platform Snapchat cofounder. Snapchat lets users send messages with photos and videos that disappear after a short period of time. The base demographic of the social media platform ranges from 18 to 34 years old. In 2015, Forbes informs that he acquired the billionaire status at age 27. Despite the drop of Snapchat’s net worth, he is the richest among the people on the list with a net worth of $4.2 billion in 2018.

Dustin Moskovitz had a six percent share in Facebook. He worked at the company as the first chief technology officer. He resigned at Facebook in 2008. He joined this elite rank when he was 26 years old in 2010.

Evan Spiegel, a US citizen, is the social media platform Snapchat co-founder and CEO. He gained the title in 2015 when he was 25 years old. Spiegel was a Stanford University drop out and the fraternity brother of Bobby Murphy.