OK, I will admit that this sounds like a regrettably middle-aged observation. But the billionaires really are getting younger all the time. In the past few days we have learned that, while Facebook's Mark Zuckerberg had to wait until the grand old age of 23 to make it on to the list of people with 10 digits attached to their net worth, Kylie Jenner has beaten his record. The cosmetics tycoon has just become the world's youngest ever self-made billionaire at the tender age of just 21.
Across FTSE boardrooms and within the business schools and management consultancies, that will probably be dismissed as completely inconsequential. Jenner looks like a celebrity internet star who will probably be forgotten by next year and her "business" with it. But hold on. That would be a mistake. In truth, the way that fortunes are being made tells you a lot about how the global economy is developing.
So what can businesses learn from Jenner, apart from the fact that it helps to be young, good looking and a half-sister to the Kardashians? In fact, there are three lessons every business can take from her success: make a brand real; partner well to leverage an opportunity at lightning speed; and understand the web inside out.
The global cosmetics industry, worth an estimated $500b (NZ$728b) globally, has always been one where fortunes can be made, and some of its pioneers were also women who redefined the way business works. Florence Nightingale Graham, a Canadian-American entrepreneur, founded the Elizabeth Arden brand in 1909 and it made her one of the richest women in the world. Estée Lauder founded her face cream company in New York in 1946 and was the only woman to make it on to Time magazine's list of the 20 greatest business geniuses of the 20th century.
The richest woman in the world, with close to $50bn to her name, is Françoise Bettencourt Meyers, whose mother, Lilianne Bettencourt, oversaw the transformation her father's company, L'Oreal, into the biggest beauty company in the world. We can now add Kylie Jenner to the list of women who have minted a fortune from helping the rest of the sisterhood look good.