A set of four Patek Philippe “Star Caliber 2000” pocket watches is part of Sotheby’s upcoming auction in Abu Dhabi.
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.

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.
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.
The Latest

The Brazilian jeweler’s latest book marks her namesake brand’s 25th anniversary and tells the tale of her worldwide collaborations.

The Submariner Ref. 1680 with a Tiffany & Co. dial came from the original owner, who won it as a prize on the game show in the 1970s.

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

The new integration allows users to manage shipments directly from the Shopify dashboard.


At Converge 2025, Editor-in-Chief Michelle Graff attended sessions on DEI, tariffs, security, and more. Here are her top takeaways.

Six people were shot last week at an Oakland cash-for-gold shop as employees exchanged gunfire with individuals trying to rob the store.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

The jeweler has expanded its high jewelry offering, which launched last year, with new pieces featuring its cube motif that debuted in 1999.

Ben Bridge Jeweler and Lux Bond & Green were a part of the pilot program.

Associate Editor Natalie Francisco shares eight of her favorite jewelry looks from the 77th annual Primetime Emmy Awards, held Sunday night.

It’s predicting a rise in retail sales this holiday season despite economic uncertainty and elevated inflation.

It included the sale of the 11,685-carat “Imboo” emerald that was recently discovered at Kagem.

The newly elected directors will officially take office in February 2026 and will be introduced at the organization’s membership meeting.

Associate Editor Lauren McLemore headed out West for a visit to Potentate Mining’s operation hosted by gemstone wholesaler Parlé Gems.

Fordite is a man-made material created from the layers of dried enamel paint that dripped onto the floors of automotive factories.

Gilbertson has worked as a researcher, jeweler, lapidary artist, appraiser, and business owner throughout his decades in the industry.

A decision likely won’t come until January 2026 at the earliest, and the tariffs remain in effect until then.

The new, free app offers accessible educational content, like games and podcasts, for U.S. retailers.

Jacob & Co. partnered with the German technology company on two pairs of headphones, one set with diamonds and the other with sapphires.

Guillermo del Toro’s 2025 “Frankenstein” will feature 27 jewels and objects from the storied brand, including pieces from its archives.

The Waldorf Astoria New York’s grand reopening this past summer means a homecoming for the industry group’s annual event.

Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.

The 9.51-carat fancy vivid blue diamond, which set two world auction records at Sotheby’s in 2014, is estimated to fetch up to $30 million.

The industry veteran joins the auction house as it looks to solidify its footprint in the jewelry market.

The nonprofit awarded four students pursuing a professional career in jewelry making and design with $2,250 each.

The Texas-based jeweler has also undergone a brand refresh, debuting a new website and logo.