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

Jenner, 21, the half-sister of reality television stars Kim, Khloe and Kourtney Kardashian, made it on to the annual Forbes list of billionaires after debuting her Kylie Cosmetics online in 2015 with $US29 ($A41) lip kits containing matching lipstick and lip liner.

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

On their billionaires list, Forbes distinguishes between those who inherited much of their wealth and those who made their fortunes on their own. Kylie would be in 2057th place whether she was self-made or inherited.

Last year, Kylie Cosmetics did an estimated $US360 million in sales, according to Forbes. Jenner, who has a one year-old daughter, owns 100 per cent of the company.

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She also makes money from endorsements and appearances on cable TV’s Keeping Up with the Kardashians.

Kylie Cosmetics last year signed a deal with Ulta Beauty to put her products in all of the retailer’s 1163 US stores.

Forbes put 2153 billionaires on its 2019 list, down from 2208 in 2018, and said their total combined net worth was $US8.7 trillion, down from $US9.1 trillion in 2018.

AAP

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