For the fifth year in a row, Kylie Jenner is the youngest member of Forbes’ list of America’s Richest Self-Made Women–a ranking that captures the entrepreneurial success and the fortunes of the 100 richest, most successful women in business.

Jenner, part of the extended Kardashian clan and the founder of Kylie Cosmetics, is–at age 24–one of just 11 people on the new 2022 Forbes list who are under age 40. This young cohort ranges from pop stars like Taylor Swift to Bumble dating app cofounder and CEO Whitney Wolfe Herd. Altogether, the under 40s are worth an estimated $6 billion–5% of the list total of $111 billion.

Jenner ranks No. 41 on this year’s list, up from No. 51 in 2021–though Forbes estimates that her fortune has declined by about $20 million from a year ago to $600 million, partly due to the drop in values of cosmetics firms amid the spring stock market rout. In addition, the frenzied buzz about Jenner’s Kylie Cosmetics appears to have waned. Jenner sold 51% of her company to beauty giant Coty in 2019 and walked away with an estimated $540 million (before taxes); one analyst tells Forbes that some data indicate online sales of Kylie Cosmetics have plunged by as much as 50% in early 2022 compared to a year ago. Coty says the relaunch of Kylie Cosmetics has been strong but doesn’t break out the unit’s revenues.

Three of America’s youngest self-made women are new to the ranking this year. Rachel Drori, who founded plant-based frozen meal delivery company Daily Harvest, is 39. She debuts after investors valued her company at $1.1 billion late last year. Emma Grede, CEO of fashion brand Good American and founding partner and chief product officer of Kim Kardashian’s shapewear firm Skims, is also 39. She joins the list at No. 77, and is the second-youngest Black woman on the list, with an estimated $360 million fortune. Also new is the second-youngest self-made woman, 27-year-old Lucy Guo, who cofounded artificial intelligence firm Scale AI and held onto a stake after she left; the firm is now valued at $7.3 billion.

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