Kylie Jenner poised to become youngest billionaire ever

Kylie Jenner is not only the youngest member of the Kardashian-Jenner clan, she's also on her way to becoming the youngest self-made billionaire.

The 20-year-old graces the cover of Forbes' August issue and the magazine estimates her current wealth at a whopping $900 million. Her famous sister Kim Kardashian West is only worth $350 million by comparison.

According to the magazine, the new mom will reach billionaire status by next year making her the youngest billionaire ever -- male or female. The current title holder is Facebook CEO Mark Zuckerberg who became a billionaire at age 23.

How did Jenner make her fortune?

"Social media is an amazing platform," Jenner told Forbes. "I have such easy access to my fans and my customers."

In addition to bringing in millions from her families' reality shows and many more millions from product endorsement deals, Forbes estimates her booming makeup company, Kylie Cosmetics, is worth nearly $800 million. Jenner is the sole owner.

"I struggled for a minute with finding something to do on my own," Jenner explained.

That's when the makeup-obsessed teen decided to launch her own company.

"I said, 'I'm ready to put up my own money. I don't want to do it with anyone else,'" Jenner said, adding that she used $250,000 of her savings from past modeling gigs to make her first 15,000 lip kits. She used her social media accounts and loyal following to tease the kits which sold out in less than one minute in 2015.

"Before I even refreshed the page, everything was sold out," Jenner recalled.

Reflecting on the future, Jenner said she plans on working on Kyle Cosmetics "forever" noting that maybe one day she'll "pass this on to" daughter Stormi "if she's into it."