From Accusations to Triumph: Unveiling the Journeys of America’s Youngest Self-Made Female Billionaires

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Kylie Jenner and Whitney Wolfe Herd were once on the Forbes list of billionaires but are now just millionaires.

Kylie Jenner, 24 years old

Not only is she the youngest self-made female billionaire in America, Kylie Jenner has been honored by Forbes magazine as the youngest self-made billionaire in the world for 2 consecutive years. Most of Jenner’s assets come from the cosmetics company Kylie Cosmetics, which she founded.

Besides, Kim Kardashian’s younger sister is also one of the stars with the most followers on Instagram, helping her earn millions of dollars each year.

The story of America's youngest self-made female billionaires: Some were accused of fraud, some became millionaires because their stocks fell - Photo 1.

Kylie Jenner is no longer a billionaire. Photo: AP

In May 2020, Forbes announced that Jenner was no longer a billionaire on the magazine’s rankings because it said that the youngest Kardashian sister had lied about the company’s data as well as falsified tax returns.

According to Forbes ‘ 2021 ranking of America’s richest self-made women , the 24-year-old star currently owns a fortune of $620 million.

Kylie Jenner is the youngest daughter of Mrs. Kris Jenner. Her older half-sisters are Kim, Khloé and Kourtney Kardashian. The Kadarshian empire was built on the reality TV show “Keeping up with the Kadarshian” that turned this whole family into stars with many fans. Currently Jenner’s older sister, Kim Kardashian, is a billionaire.

Whitney Wolfe Herd, 32 years old

Whitney Wolfe Herd became America’s youngest self-made female billionaire after Bumble – the dating app she founded – launched its initial public offering (IPO) in February this year.

Wolfe Herd teamed up with billionaire Andrey Andreev to found Bumble in 2014 not long after she sued Tinder – her former company – for harassment. This company currently operates two online dating applications: Bumble and Badoo. Last year, Blackstone Group bought a majority stake in Bumble, valuing the company at $3 billion.

Stories of America's youngest self-made female billionaires: Some were accused of fraud, some became millionaires because their stocks fell - Photo 2.

CEO Whitney Wolfe Herd. Photo: CNN

According to the third quarter business results report, for the first time since the IPO, the company recorded a decline in the number of paid users with 2.83 million users compared to 2.93 million in the second quarter. Business results were not as expected, causing Bumble shares to fall and Wolfe Herd is no longer a billionaire, according to Forbes calculations .

Elizabeth Holmes, 37 years old

Elizabeth Holmes – founder and CEO of Theranos was once a very famous figure in Silicon Valley. She is likened to the “female version of Steve Jobs”, entered the Forbes billionaires list and is on Time ‘s list of the 100 most influential people in the world .

During her career, she once held assets of up to 4.5 billion USD with the title of youngest self-made female billionaire in the world, richest female billionaire in America under 40 years old.

The story of America's youngest self-made female billionaires: Some were accused of fraud, some became millionaires because their stocks fell - Photo 3.

Elizabeth Holmes during her appearance in court in April 2021. Photo: Getty Images.

 

With the idea of ​​blood testing using exclusive technology using only small blood samples, Theranos was praised by the media as a phenomenon of the startup community. The company has attracted the strongest and richest venture capitalists in America. Among them are names such as media giant Rupert Murdoch, former US Secretary of Education Betsy DeVos, the Walton family, which controls the retail corporation Walmart, the Cox family, and billionaire Robert Kraft. – owner of the Patriots football team, Mexico’s richest billionaire Carlos Slim…

However, in 2018, this startup had to declare bankruptcy after being exposed by reporter John Carreyrou about the project’s fraudulent schemes, causing Theranos to face many legal and commercial indictments from authorities. , investors, stock exchange commission, patients, partners… Forbes magazine also removed Elizabeth Holmes from the billionaire rankings.

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