Kylie Jenner tops Forbes’ ranking of the 100 richest and most successful women in business for the fifth consecutive year as the youngest member of the list of America’s Richest Self-Made Women. At age 24, Jenner, a member of the larger Kardashian family and the creator of Kylie Cosmetics, is one of just 11 individuals under the age of 40 to make the new Forbes list for 2022. Pop artists like Taylor Swift and Whitney Wolfe Herd, co-founder, and CEO of the Bumble dating app, are among this generation’s rising stars. The combined worth of those under 40 is reportedly $6 billion, or 5% of the $111 billion list overall.
Although Forbes estimates that Jenner’s fortune has decreased by around $20 million from a year ago to $600 million, this is primarily due to the loss in prices of cosmetics firms amid the spring stock market rout. Jenner is ranked No. 41 on this year’s list, up from No. 51 in 2021. Furthermore, the ferocious excitement surrounding Jenner’s Kylie Cosmetics seems to have subsided.
One analyst tells Forbes that certain data indicate online sales of Kylie Cosmetics had fallen by as much as 50% in early 2022 compared to a year ago. Jenner sold 51 percent of her brand to beauty behemoth Coty in 2019 and walked away with an estimated $540 million (before taxes). Coty does not break out the unit’s revenues but claims that the relaunch of Kylie Cosmetics has been successful.
This year’s ranking features three of America’s newest self-made women. The 39-year-old founder of the plant-based frozen meal delivery service Daily Harvest is Rachel Drori. She makes her debut after her company was valued by investors at $1.1 billion in late 2017. Emma Grede, 39, is the founder and chief product officer of Kim Kardashian’s shapewear company Skim as well as the CEO of the fashion label Good American.
She enters the list at position 77, is the second-youngest Black woman there, and has an estimated net worth of $360 million. The second-youngest self-made woman, Lucy Guo, 27, is also new. She co-founded the $7.3 billion-valued artificial intelligence company Scale AI and held onto a stake after she departed.
Another of the youngest is the first billionaire from Barbados, Rihanna, 34, who, along with Grade, is one of two Black women under 40 to make the list thanks to her 50% ownership of the cosmetics business Fenty Beauty. She ranks No. 21 with a $1.4 billion net worth, which is $300 million less than it was the year prior as a result of the decline in the market value of cosmetics companies. However, Rihanna is the only billionaire woman under 40 on this list.
Last year, Whitney Wolfe Herd held the title of the youngest self-made billionaire for barely ten months. Despite a 24 percent increase in sales in the first quarter of this year, Bumble’s shares fell roughly 65 percent between their initial public offering in February 2021 and our measurement date of May 13, 2022. Wolfe Herd ranks No. 33 and has a fortune of $740 million, which is $560 million less than it had the year before.
Here Are The Richest Self-Made Women Under 40
1. Kylie Jenner
Assets: 600 million dollars
Cosmetics is a source of riches
The score for self-made: 7
Jenner, a longstanding cast member of the popular television series “Keeping Up With The Kardashians” and half-sister to Kim Kardashian, founded Kylie Cosmetics in 2015 with $250,000 from modeling earnings. She then expanded the company by advertising to her 110 million Instagram followers.
She sold a 51 percent ownership in the business to publicly traded Coty in early 2020 for $600 million; according to Forbes, after taxes, she received $340 million. They debuted vegan and paraben-free versions last year, but sales of the product appear to be declining. Jenner’s fortune decreased to an estimated $600 million this year from $620 million last year due to this and the stock market crash, which lowered valuations for the cosmetics industry.
2. Taylor Swift
$570 million in net value
Music as a source of wealth
The score for self-made: 8
In 2021, the pop diva, which has about 56 million Spotify subscribers per month, created history by scoring four No. 1 albums in less than 16 months. In response to the secret sale of her original catalog to a private equity firm, she accomplished the feat by re-recording two of her first albums as Red (Taylor’s Version) and Fearless (Taylor’s Version). Swift is able to recreate her repertoire because she owns the rights to these new master recordings. The publishing rights to the singer-earlier songwriter’s songs still belong to her and are estimated to be worth $200 million.
$1,4 billion in net value
Money-making industries: music and cosmetics
Personal rating: 10
On November 30, the same day the island nation established a republic, the first billionaire from Barbados was honored as a National Hero. She then achieved success in January with her Savage X Fenty lingerie line, which garnered $125 million, and is reportedly considering an initial public offering (IPO) valued at $3 billion. The former pop star-turned-cosmetics tycoon gave birth to her first child, a son, with rapper boyfriend A$AP Rocky in May. She owes the majority of her wealth to her 50% ownership in Fenty Beauty. Additionally, she has 14 No. 1 Billboard Hot 100 hits and nine Grammy awards.
4. Whitney Wolfe Herd
$740 million net worth
Moneymaker: dating site
The score for self-made: 8
From February through November 2021, Wolfe Herd held the title of the youngest self-made female billionaire for just 10 months. Despite a 24 percent increase in sales in the first quarter of this year, shares of Bumble, the dating app she cofounded and oversees, have fallen approximately 65 percent since its initial public offering in 2021 to our measurement date of May 13. Wolfe Herd developed Badoo, a dating service, which he later sold to Blackstone Group in 2019. Wolfe Herd launched Bumble in 2014 with funding from Russian billionaire Andrey Andreev.
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