«I see (Kylie Cosmetics) going very far,» Jenner said. «I work really hard.»
And with more than 128 million Instagram followers, Jenner is able to advertise to a loyal fanbase.
«It’s the power of social media,» she added. «I had such a strong reach before I was able to start anything.»
Last year, Kylie Cosmetics did an estimated $US360 million in sales, according to Forbes. Jenner, who has a one year-old daughter, owns 100 per cent of the company.
She also makes money from endorsements and appearances on cable TV’s Keeping Up with the Kardashians.
Jenner’s 38-year-old half-sister, Kim Kardashian West, was worth roughly $US350 million last July, Forbes estimated in comparison.
When the magazine first reported last year that Jenner was on track to take over the title, she was met with debate from social media users who argued over whether her success was «self-made» or merely a byproduct of being born into an already-famous and wealthy family.
The debate continued on social media following Forbes‘ announcement.
«Haven’t we gone over this? Self-made: having succeeded in life unaided,» tweeted the official Dictionary.com account in a viral post.
On their billionaires list, Forbes distinguishes between those who inherited much of their wealth and those who made their fortunes on their own. Kylie would be in 2057th place whether she was self-made or inherited.
Forbes put 2153 billionaires on its 2019 list, down from 2208 in 2018, and said their total combined net worth was $US8.7 trillion, down from $US9.1 trillion in 2018.
USA Today, Reuters, with staff writers