Young Titans of Wealth: Rising Self-Made Women
Forbes’ 2023 compilation of America’s Richest Self-Made Women serves as a testament to the prowess of youth across an array of industries, spotlighting their exceptional achievements in business and entertainment. Among these accomplished individuals, 11 notable women under the age of 40 have solidified their positions, showcasing their determination and drive for success.
1. Kylie Jenner
At 25 years old, Kylie Jenner holds a net worth of $680 million, primarily sourced from her cosmetics empire. She maintains her position as the youngest self-made female entrepreneur for six consecutive years, experiencing a $80 million surge in wealth within a year. Rising to fame through “Keeping Up with the Kardashians,” she founded Kylie Cosmetics in 2015, renowned for its lip kits that captivated her vast Instagram following. Notably, she retains an estimated 44% ownership. In 2020, Coty acquired 51% of her company for $600 million.
2. Lucy Guo
At 28 years old, with a net worth of $360 million, Guo derives her wealth from AI software. Notably self-made with a score of 8, Guo introduced Passes, a rival to Patreon, in April of the previous year. A $8 million investment was secured in September. While her primary source of wealth is her nearly 6% stake in Scale AI, an AI company cofounded by her and Alexandr Wang in 2016, its value has decreased by a third within a year. Guo exited the company in 2018.
3. Taylor Swift
Aged 33, the music sensation boasts a net worth of $740 million, driven by her music endeavors. With a self-made score of 8, her wealth surged by $170 million after her latest album, “Midnights,” debuted in October 2022. The momentum continued with the launch of her Eras tour in March, which witnessed an unprecedented sale of 2 million-plus tickets via Ticketmaster in a single day. Swift profited from the 52 performances and merchandise sales, alongside her re-recorded album “Speak Now (Taylor’s Version)” which was released on July 7th.
4. Whitney Wolfe Herd
Aged 33, the creator of Bumble, a dating app, holds a net worth of $510 million, achieving a self-made score of 8. In the previous year, the app’s founder, once a billionaire, experienced a loss of $230 million due to a nearly 30% decline in its shares. Since its 2021 IPO, the stock has plummeted by nearly 80%. Notably, Bumble stood out by empowering women to initiate conversations. Despite challenges like declining paid users for its international app Badoo, Wolfe Herd managed to indulge in her wealth. In January, she and her spouse reportedly purchased a $21 million California ranch from Ellen DeGeneres.
5. Rachel Romer
At 34 years old, the self-made entrepreneur’s net worth stands at $320 million, stemming from her online education venture. In June 2022, her company, Guild Education, garnered $175 million from investors, valuing it at $4.4 billion. Established in 2015, Guild aids employee retention for businesses by facilitating skill acquisition and debt-free college degrees. Romer’s wealth decreased by almost half due to her divorce in late 2022, previously recognized under her married name, Carlson.
6. Rihanna
At 35 years old, Rihanna’s wealth, valued at $1.4 billion, is generated from her music and cosmetics endeavors. Her Super Bowl halftime show in February garnered a remarkable 121 million viewers, marking her first live performance in over five years. Coinciding with the release of new music for the “Black Panther: Wakanda Forever” soundtrack, she’s also launching a Fenty X Puma collaboration and holds an approximate 30% stake in the Savage X Fenty lingerie line. Her primary source of wealth lies in Fenty Beauty, her makeup line co-owned with French luxury conglomerate LVMH, led by Bernard Arnault, the world’s wealthiest individual. The line’s sales doubled in 2022.
7. Christina Cacioppo
At 36 years old, with a net worth of $385 million, this software tycoon is recognized for her self-made accomplishments, earning a score of 8. Having begun her career in venture capital at Union Square Ventures and as a product manager at Dropbox, her entrepreneurial drive, honed from running an eBay Beanie Baby business at age 11, persisted. In 2017, she co-founded Vanta, a security and compliance firm, rapidly propelling its growth as CEO. With a global clientele of over 5,000, the company achieved a valuation of $1.6 billion in its latest funding round in June 2022.
8. Neha Narkhede
Aged 38, boasting a net worth of $520 million, this self-made entrepreneur’s wealth is derived from software ventures, earning her a self-made score of 8. A former software engineer, she unveiled her latest endeavor, Oscilar, a fraud detection company, in March. Collaborating with her spouse, they initiated it in 2021 with a $20 million investment. Her past roles include being the co-founder and former CTO of Confluent, a data-streaming software company that went public in 2021, attaining a remarkable valuation of $9.1 billion.
9. Iman Abuzeid
At 38 years old, with a net worth of $350 million, this self-made entrepreneur’s wealth originates from healthcare staffing, earning her a self-made score of 8. Born to a Sudanese surgeon in Saudi Arabia, Abuzeid acquired her medical degree in the U.K., eventually relocating to the U.S. to pursue healthcare consulting. In 2017, she co-founded Incredible Health, addressing the nursing shortage affecting American hospitals. Comparable to an enhanced version of LinkedIn for nurses, the service secured $80 million in funding in August 2022, elevating the company’s valuation to $1.65 billion.
10. Huda Kattan
At 39 years old, possessing a net worth of $400 million, this self-made mogul’s wealth is rooted in cosmetics, earning her a self-made score of 9. Through Huda Beauty, a company she founded and leads, she offers a diverse range of over 100 cosmetics, skincare, and fragrances. In 2017, private equity firm TSG Consumer Partners acquired a minority stake, valuing the business at $1.2 billion. Although the industry has subsided from its peak, Kattan, raised in Oklahoma to immigrant parents from Iraq, has ventured into supporting other startups, including Clubhouse, a social audio app, through her Dubai-based entity, HB Investments.
11. Julia Cheek
At 39 years old, with a net worth of $260 million, this self-made entrepreneur’s wealth stems from health and wellness testing, attaining a self-made score of 8. In 2015, Cheek established Everly Health due to her frustration with exorbitant costs for lab tests. The company’s at-home health and wellness testing kits are available both online and in retail chains such as Target and CVS. Revenue reached an estimated $250 million in 2022, although layoffs occurred as the Covid testing demand waned. While most tests focus on screening rather than diagnosing illnesses, the Austin, Texas-based company is pursuing a new initiative to facilitate doctor consultations and prescriptions for customers, encompassing thyroid and weight-loss medications.
These dynamic women, hailing from diverse backgrounds and fields, symbolize the vigor of youth and its transformative potential across industries, reshaping norms and achieving remarkable feats. Their endeavors underscore the impact of young trailblazers in shaping the landscape of success.
Re-reported from the article originally published in Forbes
