Kylie Jenner is officially the world's youngest billionaire

Kylie Jenner

Kylie Jenner is the youngest self-made billionaire of all time.

On Tuesday, Forbes released the 33rd annual World's Billionaires list, which included 21-year-old Jenner for the first time.

She has almost 27 million followers on Twitter and 128 million on Instagram, helping her to promote her products to her key consumer base - her own fans. Bill Gates bagged the second spot all due to his fortune worth $136 billion.

Some have also taken issue with the calculations saying that labeling Jenner as a "billionaire" is generous in the estimation of her worth.

She's worth an estimated $1 billion, Forbes said, and unseated the previous record holder, Facebook's Mark Zuckerberg, who hit the milestone when he was 23.

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But critics found it troubling that the magazine deliberately ignored the role that Jenner's rich and privileged family played in her success. "Jenner was ranked at number 2,057 on this year's list". It's worth pointing out, though, that Jenner had an enormous leg up when it came to building, promoting, and scaling her company.

It's thanks to her $900 million business, Kylie Cosmetics, and its signature Lip Kit, hundreds of thousands of which have been sold online.

The magazine lauded Jenner as "self-made" because she didn't inherit any money from her family, but built her own businesses. She was born in 1997 to Olympic gold medalist Caitlyn Jenner and Kris Jenner, the ex-wife of attorney Robert Kardashian, known most for defending his friend O.J. Simpson during the sensational murder trial.

"Her money she made on the show that she put into her company, seems self made to me", said Gen.G content creator AvaGG.

The wealth accumulated by the daughter of Kris and Caitlyn Jenner and half-sister of the Kardashian clan still pales in comparison to the world's richest man. Forbes reckon Amazon founder Jeff Bezos is now worth $131 billion, $19bn more than previous year. After all, Kylie did say that she was cut off financially at 15 years old, and started up Kylie Cosmetics with funds from past modeling gigs and "the power of social media", as she told Forbes.

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