Forbes magazine just released their annual list of the wealthiest self-made female entrepreneurs. Since a historic number of women are now earning in the billions, the list has expanded to include 80 businesswomen and executives blazing a trail in their industries. Ranked by net worth, 25 women on the list have amassed fortunes in the billions of dollars, one up from 2018. Huda Kattan, founder and CEO of makeup empire Huda Beauty, has placed 36th.
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The former BAZAAR cover star made the list for a second consecutive year, having placed 37th in 2018. Forbes deems her net worth to be an astounding $610 million, or Dhs2.24 billion. Last year, Forbes measured this figure at $550 million, or Dhs2 billion. Entrepreneur, makeup artist and beauty blogger extraordinaire, Huda transitioned from the finance industry to the beauty world, launching her eponymous Huda Beauty cosmetics line in 2013. (Why? She couldn't find the perfect false lashes in any stores). Oklahoma-born to Iraqi parents, Huda shot to international fame as a YouTube and Instagram star, with Huda Beauty's 140-plus products now bringing in $250 million (Dhs918 million) in annual sales.
In the past, Forbes definition of 'self-made' has been central to the list: 'Anyone who built or earned a fortune as opposed to inheriting it'. The minimum net worth to land a spot is $225 million (Dhs826 million) and to be eligible, the women must either be American citizens or residents, or have made their millions in the country - however, nineteen of the trailblazing ladies were born outside the US.
A string of globally recognised faces join Huda on the list - Oprah Winifrey, Beyoncé and Serena Williams (the first-ever athlete to land a spot), amongst others. Rihanna earns the title of richest female musician, amassing her fortune from the multi-million dollar Fenty Beauty business and her Savage X Fenty lingerie line. Unsurprisingly, members of the Kardashian-Jenner clan also made the cut. Kylie came in at number 23, valued at $1 billion (Dhs3.67 billion). Famously granted the title of youngest self-made billionaire, what started out as the Kylie Lip Kit grew into the Kylie Cosmetics line. Now venturing into skincare, the reality star-turned makeup mogul has also filed a trademark for a baby line. Kim, at number 57 on the list, reportedly owes most of her fortune to KKW Beauty.