Young entrepreneurs among America’s richest women

Here Youth Time Magazine publishes three of the most interesting and informative youth related news items of the past week. Our weekly news roundup is published every Monday and Friday and contains just some of the most important developments in the world of global youth. Follow, like and submit comments on Facebook and other Youth Time media.

Kenya bids for overseas students

Kenya’s National Qualifications Authority (KNQA) has launched an ambitious blueprint to attract up to 30,000 international students and make the east African country a regional hub for higher education.

The plans involve improved student accommodation and making it easier for educated internationals to secure visas. Safety concerns will be tackled and efforts made to improve the ranking of Kenyan universities so degrees will be considered more valuable than those in neighbouring Uganda, where they are much cheaper.

At present around 5,000 international students travel to Kenya each year. The continent’s most popular destination is South Africa, which has more than 45,000. Kenya hopes to target aspiring students in Tanzania, South Sudan and Somalia.

Budget boost for EU youth

The European Commission has proposed an EU budget for 2020 that includes €117m for the Youth Employment Initiative which helps young people living in regions where youth unemployment is high find jobs.

The €83bn budget also includes €2.8bn for the Erasmus education scheme and €13.2bn for research, with the new European Innovation Council receiving significant funding to support smaller companies with innovative ideas that have the potential to scale.

Total funding for the Youth Employment Initiative now stands at €4.5bn in the past six years. It may not be enough. One of the countries most affected by youth unemployment is Italy, where it stands above 50% in some regions. Interior Minister Matteo Salvini has threatened to take the country out of the Euro-zone and launch a parallel currency after being told to reduce spending by the EU.

“Until unemployment falls to 5pc we have a right to invest,” Salvini said: We have regions where youth unemployment is 50pc. We need a Trump cure, a positive fiscal shock to reboot the country.”

Young entrepreneurs among America’s richest women

Forbes has released a new list ranking America’s richest self-made women. There are 80 women on the 2019 list and four of them are young entrepreneurs aged 20-29.

The wealthiest young American woman is Kylie Jenner – who has branched out from her Kardashian family fame to set up her own line of cosmetics. Ahed just 21, she has amassed a personal fortune of $1bn.

She is joined by Witney Wolfe Herd, the 29-year-old founder and CEO of the online dating app Bumble and who ranked No 72 on the list with $290m. Another cosmetics entrepreneur – Karissa Bodnar, 29, who founded Causemetics – entered the list at No 74 with $275m; while Taylor Swift, 29, and Rihanna, 31, also cracked the Forbes ranking.

America’s wealthiest self-made woman is Diane Hendricks, 72, who co-founded a roofing company with her husband and is worth $7bn.

Photo: Shutterstock

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