How 7 ‘Instagram-savvy make-up moguls’ mingle among Forbes' richest self-made women

2018 may be the year of cosmetics. Forbes has released its annual ranking of America's richest self-made women, and there are seven newcomers to the list, four of whom have built all or part of their fortunes in the beauty business.

Forbes says these “Instagram-savvy make-up moguls”, and specifically almost-billionaire Kylie Jenner, have ushered in a “new model of extreme fame leverage” that is “radically reshaping business, culture, and politics”.

The list measures the wealth of the top 60 richest women in the United States who built their fortunes without the help of an inheritance. Together they are worth US$71 billion – US$9.5 billion more than the combined wealth of the 2017 list. A record 24 women are billionaires on this year's list.

To determine the ranking, Forbes took into account stakes in public and private companies, real estate holdings, and other assets including art, jewellery, cars, and planes. All net worth estimates are current as of June 22, 2018.

Taylor Swift rounds out the list this year at No 60, with an estimated net worth of US$320 million. That is US$60 million more than the minimum net worth required to make the list in 2017.

Scroll through to meet the seven entrepreneurs who joined Forbes' list of America’s richest self-made women for the first time in 2018, see how they made their fortunes, and learn how much they are worth today.

Anastasia Soare: US$1 billion

Rank: 21

Source of wealth: Cosmetics, Anastasia Beverly Hills