Kylie has overtaken Facebook founder Mark Zuckerberg, who previously held the title of youngest self-made billionaire from the age of 23.
Over the past few months, Kylie Cosmetics has sold $54.5 million worth of product in Ulta stores alone.
Forbes put 2,153 billionaires on its 2019 list, down from 2,208 in 2018, and said their total combined net worth was $12.3 trillion, down from $12.8 trillion in 2018.
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Kylie Cosmetics came into existence in the year 2015 and it comprises of all kinds of make-up essentials.
Amazon's Jeff Bezos, whose wealth has been making headlines due to his impending divorce with wife Mackenzie, topped the Hurun Rich list for the second year. Forbes uses the "self-made" designation as a way to distinguish between extremely rich people who inherited wealth and those whose fortune was made primarily in other ways. Kylie also happens to have a huge following on social media which has further added to her credit in accumulatng the finances.
No matter Kylie Jenner's famous background, she was still able to build an empire from the ground up and now owns one of the biggest makeup companies to date. Kylie's mom aka "momager" Kris Jenner manages all her PR and financial operations, in return for a 10% share. The profile deems her "the first selfie-made billionaire".
While Jenner's $1 billion net worth is nothing to scoff at, she's actually ranked 2,057 on Forbes' list this year.
There are now eight billionaires who are younger than 30, according to Forbes' list. I work really hard, ' she said.