Reality TV star and cosmetics entrepreneur Kylie Jenner is the youngest member on America’s list of richest self-made women, according to business magazine Forbes.
Once named the youngest self-made billionaire in the world, Ms Jenner, 25, is estimated to have a net worth of $680 million, $80 million more than a year ago, and ranked 38th overall on the magazine’s annual list of self-made women.
Ms Jenner’s wealth stems from her make-up business, Kylie Cosmetics. She sold 51 per cent of the company to multinational beauty conglomerate Coty in 2020 for $600 million. At the time, the deal valued the business at $1.2 billion. Ms Jenner earned $340 million from the sale.
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The youngest member of the Kardashian-Jenner clan, Ms Jenner is half-sister to reality TV star Kim Kardashian and starred in the reality television series Keeping Up with the Kardashians from 2007 to its final season in 2021.
Lucy Guo, 28, chief executive and founder of Passes, a web3 platform for creators, is the second-youngest person on the list of America’s richest self-made women. She has a net worth of $360 million.
“The bulk of her fortune comes from her nearly 6 per cent stake in artificial intelligence firm Scale AI,” Forbes said.
Pop star Taylor Swift, 33, is the third youngest person on Forbes’ list and has a personal fortune worth $740 million.
Her net worth is up by $170 million since last year thanks to the release of her new album, Midnights, in October 2022, followed by the announcement of her Eras tour, which kicked off in March, according to Forbes.
Rounding off the top five youngest people on the list are Whitney Wolfe Herd, the 33-year-old founder of dating app Bumble, with a fortune of $50 million, and Rachel Romer, the 34-year-old founder of online education company Guild Education, with a net worth of $320 million.
Forbes ranks the most successful female entrepreneurs, executives and entertainers in the US every year.
Bolstered in part by a rebound in the stock market, they are cumulatively worth a record $124 billion, up about 12 per cent from a year ago.
Among the 100 members on this year’s ranking, only 11 are women under 40. That number hasn’t changed since last year, but some of the names have, Forbes said.
The Russia-Ukraine crisis, the Covid-19 pandemic and volatile stock markets took a toll on the combined wealth of the world’s richest people, which slipped 3 per cent to $12.7 trillion over the past year, down from a record $13.1 trillion in 2021.
Francoise Bettencourt Meyers, the granddaughter of French pharmacist and L’Oreal founder Eugene Schueller, is the world’s richest woman, with a net worth of $80.5 billion.
Ms Meyers has topped the Forbes 2023 World Billionaires List for women for the third year running.
The 10 richest women in the world have a combined net worth of $402.6 billion, up from $401 billion in 2022, with the majority inheriting their wealth, according to Forbes, which used stock prices and exchange rates from March 10 to calculate the fortunes of the wealthiest people on the planet.
Other famous women under 40 on Forbes’ list of richest self-made women in America include singer and businesswoman Rihanna, 35, who ranked sixth with a net worth of $1.4 billion, and beauty mogul Huda Kattan, 39, who ranked 10th with a personal fortune of $400 million.
New to the 2023 list are three 30-something entrepreneurs: Christina Cacioppo, 36, Iman Abuzeid, 38, and 39-year-old Julia Cheek, Forbes said.
Ms Cacioppo, whose net worth is estimated at $385 million, co-founded security and compliance automation company Vanta in 2017.
Ms Abuzeid, with a net worth of $350 million, is the co-founder of healthcare staffing company Incredible Health, which helps connect nurses with available jobs at hospitals.
Ms Cheek founded Everly Health, an at-home testing company, in 2015. She has a net worth of $260 million.
Richest self-made women in the US under 40
- Kylie Jenner, 25: $680 million (net worth)
- Lucy Guo, 28: $360 million
- Taylor Swift, 33: $740 million
- Whitney Wolfe Herd, 33: $510 million
- Rachel Romer, 34: $320 million
- Rihanna, 35: $1.4 billion
- Christina Cacioppo, 36: $385 million
- Neha Narkhede, 38: $520 million
- Iman Abuzeid, 38: $350 million
- Huda Kattan, 39: $400 million
- Julia Cheek, 39: $260 million
Source: Forbes
