Kylie Jenner has become the youngest self-made billionaire in history at only 21 years old. She owns 100% of a cosmetics company that is worth over $900 million. Her self named company, Kylie Cosmetics, was started solely by her and defies all presuppositions of economic theory.

Jenner was born into fame by being a member of the Kardashian family and she used that platform to her advantage in her business ventures. When the family’s reality show, “Keeping up With the Kardashians”, first aired in 2007, Kylie was only 10 years old. As the show gained traction and Kylie got older, she grew more and more famous in the world of reality TV and social media. She used this following to jump start her cosmetic business at only 17 years old. She used a small sum of money she earned by modelling to pay a company to produce 15,000 lip kits and began selling them for $29. Her product was marketed through her social media accounts such as Twitter, Instagram, and Snapchat with hundreds of millions of combined followers. The start up costs were cheap and the marketing was free and she has since sold over $900 million worth of makeup and other products. She pays seven full-time and five part-time employees and outsources manufacturing and packaging. Between Kylie Cosmetics and other small business ventures, such as her clothing line with her sister, Kylie is worth well over $1 billion.  Although Kylie was famous just because of her name, her fortune is entirely self-made. She was not born into a family business, but she used her situation and the resources around her to launch a business idea and grew it into a nearly billion dollar company by herself.