Forbes 2019: Kylie Jenner dethrones Mark Zuckerberg, becomes world's youngest billionaire

Kylie Jenner on Tuesday was named the youngest self-made billionaire of all time by Forbes magazine, thanks to the booming cosmetics company she founded three years ago.

Forbes said she was both the world's youngest billionaire and also the youngest self-made billionaire ever.

(Image from AFP)

Jenner, 21, the half-sister of reality television stars Kim, Khloe and Kourtney Kardashian, made it onto the annual Forbes list of billionaires after debuting her Kylie Cosmetics online in 2015 with $29 lip kits containing matching lipstick and lip liner.

Last year, Kylie Cosmetics did an estimated $360 million in sales, according to Forbes. Jenner, who has a  daughter, owns 100%  of the company.

She also makes money from endorsements and appearances on cable TV's 'Keeping Up with the Kardashians,' and was ranked at number 2,057 on the Forbes 2019 list. 

Jeff Bezos retained his first spot in the list. His fortune was have swelled by $19 billion in one year and he is now worth $131 billion fortune. 

Last year as well, he was ranked at the first spot in the Forbes billionaire's list.

Bill Gates who was at the second spot saw his wealth grow to $96.5 billion, up from 90 billion last year.

Warren Buffett also known as "Oracle of Omaha" and long considered an investment guru, was at the third spot.

Buffett's fortune slipped by $1.5 billion to $82.5 billion from $88.3 billion, the magazine estimated.

Donald Trump(File Photo)

Mukesh Ambani, chairman of Reliance Industries jumped from 19th to 13th spot. His wealth increased by nearly 25% in the past year.

The 61-year-old managing director is now worth $50 billion, up from $40 billion in 2018.

(Image from AFP)

Facebook founder and CEO Mark Zuckerberg lost $9 billion in net worth and slipped from fifth to eighth position this year.

He was the world's youngest billionaire before Kylie Jenner.

(Image from AFP)