Kylie Jenner, the founder of Kylie Cosmetics, has become the world’s youngest self-made billionaire after her company signed an exclusive partnership with Ulta Beauty Inc.

Jenner, 21, is worth $1.02 billion, according to the Bloomberg Billionaires Index, which assumes that she owns 90 percent of her company and ascribes the rest to her mother Kris, who takes a management fee in exchange for handling public relations and finance. Forbes, relying on a different methodology, reported earlier Tuesday that Jenner had achieved the milestone.

Jenner, the half sister of Kim Kardashian, founded Kylie Cosmetics in 2015. The company posted $360 million of revenue last year, a 9 percent increase from 2017, according to Forbes.

Bloomberg classifies people as self-made if they don’t inherit their wealth through marriage, death or bequests. Jenner, the youngest member of the Kardashian-Jenner clan, has amassed 128 million Instagram followers and leveraged that popularity to promote her products.

•Sourced from a Businessday report