PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
MajorsJul 12, 2018
Kendra Scott, Carolyn Rafaelian Made This Forbes List Again
It also includes Kylie Jenner, who’s on track to become the youngest-ever self-made billionaire.
Carolyn Rafaelian (left) and Kendra Scott made Forbes’ list of the richest self-made women in America, ranking at Nos. 21 and 40, respectively.
New York—Forbes, that frequent publisher of lists of people who’ve made a lot of money, just released its latest, the 2018 ranking of America’s Richest Self-Made Women.
Once again, the list includes two women well-known in the jewelry world: Carolyn Rafaelian, whose Alex and Ani bangle bracelets are carried by fine jewelers nationwide, and Kendra Scott, who started her eponymous costume jewelry company with $500 in her spare bedroom.
Rafaelian ranks No. 21 out of 60 with a net worth of $1 billion.
A Rhode Island native who is the daughter of Armenian immigrants, Rafaelian started bangle brand Alex and Ani in 2004. The company is named after her two daughters, and its bangles are made in the same factory where Rafaelian’s father manufactured American flag pins and costume jewelry.
She remains the company’s CEO and chief creative officer and holds a majority stake in Alex and Ani.
Scott, meanwhile, ranks No. 40 with an estimated net worth of $500 million. She has 79 of her own stores, and her jewelry is carried by department stores and other retailers nationwide.
Both women made the list last year as well.
Insta-Fortunes
If there was a lesson to be taken away from the 2018 list of the U.S.’s richest self-made women, it’s this: There is a lot of money to be made in cosmetics, and the best way to make it is to have a huge Instagram following and showcase the products there.
Kylie Jenner (No. 27) started her cosmetics business two years ago selling a $29 kit consisting of lipstick and a matching liner. She leveraged her 110 million Instagram followers to turn Kylie Cosmetics into an $800 million company, Forbes estimates, and personally is worth $900 million.
At only 20, she’s on track to become the youngest-ever self-made billionaire and is the youngest woman on the 2018 list (Taylor Swift is second at age 28.)
Joining her on the list are several other women who’ve made a fortune in cosmetics thanks in large part to the power of social media.
According to Forbes, Anastasia Soare’s (No. 21, $1 billion) Anastasia Beverly Hills brand took off after her daughter opened an Instagram account for the company that now has more than 17 million followers.
Huda Kattan (No. 37, $550 million) used her status as an Instagram influencer to help launch Huda Beauty after she couldn’t find any false eyelashes that she liked.
Editors' Picks
Sponsored by
The company now has 26 million followers.
Also making the cosmetics/social media mogul cut is Jenner’s half-sister, Kim Kardashian West (No. 54), who can attribute some of her $350 million fortune to her contouring kit and perfume company, KKW Beauty.
Other women on the list include:
--Media mogul Oprah Winfrey, No. 6 ($3.1 billion);
--Clothing designer Vera Wang, whose brand is licensed by Zales, No. 34 ($630 million);
--Madonna, No. 36 ($590 million);
--Judy Sheindlin (aka Judge Judy), No. 48 ($400 million);
--Beyoncé Knowles, No. 53 ($355 million); and
--Taylor Swift, No. 60 ($320 million).
The entire list can be viewed on Forbes.com.
Also making the cosmetics/social media mogul cut is Jenner’s half-sister, Kim Kardashian West (No. 54), who can attribute some of her $350 million fortune to her contouring kit and perfume company, KKW Beauty.
Other women on the list include:
--Media mogul Oprah Winfrey, No. 6 ($3.1 billion);
--Clothing designer Vera Wang, whose brand is licensed by Zales, No. 34 ($630 million);
--Madonna, No. 36 ($590 million);
--Judy Sheindlin (aka Judge Judy), No. 48 ($400 million);
--Beyoncé Knowles, No. 53 ($355 million); and
--Taylor Swift, No. 60 ($320 million).
The entire list can be viewed on Forbes.com.
More on Majors
The Latest
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
Weekly QuizMay 14, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
SourcingMay 15, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
SourcingMay 14, 2026
State of Colored Stones: The Spirit of Young American Gemstone CuttersThe next generation of lapidarists are entrepreneurial, engaged online, and see the craft as a means for artistic expression.
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
