Kylie Jenner Becomes the World's Youngest Self-Made Billionaire

Kylie Jenner, the founder of Kylie Cosmetics, has become the world’s youngest self-made billionaire after her company signed an exclusive partnership with Ulta Beauty Inc.

Jenner, 21, is worth $1.02 billion, according to the Bloomberg Billionaires Index, which assumes that she owns 90 percent of her company and ascribes the rest to her mother Kris, who takes a management fee in exchange for handling public relations and finance. Forbes, relying on a different methodology, reported earlier Tuesday that Jenner had achieved the milestone.