FALGUNI NAYAR

$4.5 bil • Beauty products • India

A decade ago, when she was 49, Nayar left behind her investment banking career to launch beauty-and-fashion retailer Nykaa. She took it public in November and is now India’s richest self-made woman. Nykaa, which means “one in the spotlight,” currently sells more than 4,000 brands online and in its 102 stores. Her twin daughter and son, age 31, both work in the business. Up next: more warehouses and stores. Says Nayar: “Nykaa will be 10 in April, and we are feeling a coming-of-age kind of excitement as a company.”

$2 bil • Venture capital • U.S.

Jared Kushner’s younger brother walked away from his family’s New York real estate empire to found Thrive Capital in 2010, which made prescient bets on Instagram and Stripe. Goldman Sachs invested in Thrive last May at a $3.6 billion valuation.

$1.8 bil • E-commerce • Age: 37 $1.8 bil • E-commerce • 37

A former marketing employee of German publisher Bertelsmann, Qu is president of Xiaohongshu (“Little Red Book”), a social media and e-commerce outfit that she cofounded with former Bain consultant Charlwin Mao—who is CEO—in 2013. The two reportedly met at a shopping mall in the U.S. Their Shanghai-based company, which has more than 200 million active monthly users, is now worth $20 billion after raising money in November from investors including Tencent and Alibaba. Qu and Mao each own an estimated 10%.