Earlier today, we covered Forbes’ list of the world’s richest people.
Your man Jeff Bezos is still leading the way, and rounding out the top 10 was Larry Page, with a net worth just north of $50 billion.
That top 10 is filled with the usual suspects but, as they tend to do, it’s one of the Kardashian / Jenner clan who is grabbing headlines.
After it was reported that Kylie Jenner would soon become the world’s youngest ‘self-made’ billionaire last year, there was a massive backlash.
Fine, she’s going to be worth a billion, but it’s the ‘self-made’ bit that rankled so many, and that’s clearly still a sore point.
As part of their latest list, Forbes officially confirmed that the 21-year-old has now taken the record from Mark Zuckerberg.
Here’s the write-up:
Fueled in part by the Ulta expansion, Kylie Cosmetics’ revenue climbed 9% last year to an estimated $360 million. With that kind of growth, and even using a conservative multiple from the booming makeup industry, Forbes estimates Jenner’s company is worth at least $900 million. She owns all of it. Add in the cash Jenner has already pulled from the profitable business, and the 21-year-old is now a billionaire, with an estimated fortune of $1 billion.
She’s the youngest-ever self-made billionaire, reaching a ten-figure fortune at a younger age than even Mark Zuckerberg (who was 23 when he hit that mark).
You can read the full profile here, but let’s move onto a ‘self-made’ ranking system you might not know about, which Forbes introduced back in 2014.
Essentially, the range goes from one (inherited all of their wealth) to 10 (entirely self-made). CNN reports below:
Oprah Winfrey, for example, who was raised by a single mother in poverty, is a 10, according to Forbes. Similarly George Soros, who survived the Nazi occupation of his home country of Hungary and later fled to England where he worked his way through the London School of Economics as a railway porter and waiter, is also a 10.
On the other end of the spectrum are people who have inherited wealth and have not actively worked to increase it. Alice Walton, the only daughter of Walmart founder Sam Walton, and Laurene Powell Jobs, the widow of Steve Jobs, are 1s.
Kylie Jenner scores a seven, which is just one below the likes of Bezos, Warren Buffett and Zuckerberg.
Observe:
I don’t agree with it, but there it is.
Kylie Jenner, self-made billionaire.
Your man Donald Trump is a four, by the way.
