NEW YORK (CBSNewYork) – She has more than 175 billion followers on social media, and now Kylie Jenner has $1 billion in the bank.
The 21-year-old celebrity and makeup mogul is officially being called the “youngest self-made billionaire ever.”
That title is up for debate among many people, reported CBS2’s John Dias.
She went from a reality start to pop icon. Kylie Jenner is also known worldwide as the youngest sister of the Kardashian-Jenner clan.
Forbes projected the celebrity would be the youngest self-made billionaire ever weeks ago, but officially announced it Tuesday.
“I think it’s pretty incredible,” said Upper West Side resident Renee Wilson.
“She worked hard to get where she is right now,” said Manhattan resident Kim Wechsler.
Facebook’s Mark Zuckerberg was 23 when he earned that title. Now the makeup mogul beat him by two years. Her line “Kylie’s Cosmetics” got her there. It’s sold online and in Ulta Cosmetics Stores, and brings along with it a fan base across the world.
There’s a portion of Kylie Jenner’s new title though that many people are debating: The part that says “self-made.”
“She built off her family’s name,” one person said.
“We all know she is not really self made,” another said.
“She had help, as far as being the family that was wealthy,” said a third.
Dictionary.com weighed in on the debate, Tweeting “Haven’t we gone over this? Self-made: Having succeeded in life unaided.”
But Forbes has a different definition.
“To Forbes, what ‘self-made’ means is that the person involved did not inherit a huge sum of money or inherit the business itself,” said pop culture expert Brian Balthazar.
Balthazar says Kylie’s mom, Kris Jenner, “helped” her youngest girl succeed, but not the way she branded and marketed her older girls who were in the forefront. Kylie did her thing her way, Balthazar says. She capitalized on her social media popularity.
“She kept costs really low and profits really high and she thinks of ways to release new products. Almost instantly, the moment she posts them, they sell out,” Balthazar said.
That all adds to her billion dollar empire.
Forbes Magazine also came out with a “self-made score” system.
Kylie is at 7 for getting a head start for having rich parents.
People like Oprah are 10 for growing up poor and overcoming significant obstacles.
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