People are slamming Forbes for putting Kylie Jenner on its list of the richest 'self-made' women
- Kylie Jenner is on the cover of Forbes' "America's Women Billionaires" issue, with the magazine reporting that Jenner is the 27th-richest self-made woman in the United States.
- Some took issue with Forbes for describing Jenner, whose ritzy upbringing was documented on "Keeping Up With the Kardashians," as "self-made."
- Jenner's net worth now far exceeds that of anyone else in her family, according to Forbes' calculations.
Some people are taking issue with Forbes putting Kylie Jenner on its list of the richest "self-made" women in the US, but the publication's reasoning makes sense.
On Wednesday, Forbes released its August 2018 "America's Women Billionaires" issue with Jenner on the cover. The magazine estimates Jenner's net worth to be roughly $900 million, making her the 27th-richest self-made woman in the US.
"Another year of growth will make her the youngest self-made billionaire ever, male or female, trumping Mark Zuckerberg, who became a billionaire at age 23," Forbes reported.
However, some took issue with Forbes classifying Jenner as a "self-made" near-billionaire.
The comedian Franchesca Ramsey tweeted: "Being born into extreme wealth & instant fame is the exact opposite of 'self made.'"
Even Dictionary.com got involved:
Jenner's story certainly isn't a rags-to-riches tale. She is the daughter of Kris Jenner — who was previously married to the prominent lawyer Robert Kardashian — and the famed Olympian Caitlyn Jenner, and her ritzy upbringing in Calabasas, California, was documented on the reality show "Keeping Up With the Kardashians."
However, at this point, Kylie Jenner's net worth far exceeds that of anyone else in her family, including her sister Kim Kardashian West.
Jenny Cheng/Business Insider
The 20-year-old's net worth has skyrocketed thanks to the success of Kylie Cosmetics. Forbes conservatively valued the company at $800 million, with an estimated $330 million in sales last year. Jenner is both the face of the company and the sole owner.
Further, Forbes' "self-made" designation is not a value judgment, but a way to distinguish between extremely rich people who inherited wealth and those whose fortune was made primarily in other ways.
"We consider any person who built her own fortune, and didn't inherit the money, to be self-made," Forbes said of its methodology. "So top executives at tech firms who are compensated for helping significantly grow companies make the ranks but not second-generation women running family businesses."
For example, the richest woman in the world, Alice Walton, the Walmart heiress whose net worth is estimated to be a whopping $46 billion, is not on the self-made-billionaires list because her wealth is inherited. But the richest self-made woman in America, Diane Hendricks, who cofounded and chairs ABC Supply, is worth just one-tenth of Walton, with a net worth of about $4.8 billion.