Kylie Jenner attends the annual Met Gala on May 7 in New York City.
"What her half-sister Kim Kardashian West did for booty, Jenner has done for full lips", Forbes writes.
"Calling Kylie Jenner "self-made" is like calling McDonald's "homemade" stop this madness", a user said on Twitter. She has become so dominant on social media that when she tweeted that she had become bored with Snapchat, its parent company's stock lost 6% of its value within a day, around $1.3bn (over R17 billion).
What makes Jenner's accomplishment all the more impressive is that her cosmetics line is only two years old and she owns the entire business herself.
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The mum of one claims that her online platform is the key to her successful business, telling the magazine: "Social media is an fantastic platform".
The story also reports Jenner, who became a mom in February, has also earned several million from her share of E!'s "Keeping Up With the Kardashians" and endorsement deals with Puma and PacSun.
"Starting a company on my own, and it being so big from the beginning, there isn't a lot of room for mistakes..."
"Ohh my goddd kylie you look so handsome the way you originally are now don't change you are sooo gorgeous with the natural you yassss slay", gushed another. Fast forward to a year or so later, and Kylie Cosmetics had raked in $430 million in just 19 months. Forbes said it valued her company at almost $800 million and that Jenner owns 100 per cent of it. Her little ears now feature tiny studs. She will likely cross the billion-dollar mark next year.
On Wednesday she posted her Forbes cover photo on Instagram with a caption that read "wow. i can't believe I'm posting my very own @forbes cover".