Aerin Lauder and Jane Lauder, granddaughters and heiresses to the Estée Lauder empire are now among the youngest female billionaires in the world. Both in executive positions at their late grandmother's company, Estée Lauder, the Bloomberg Billionaires Index has determined each woman's net worth to be around $2.6 billion.

Aerin, 43 and Jane, 40, largely have this year to thank for their expanding net worth. The company's market value increased by 23% this year alone, and has been hugely successful over the last 12 months. Aerin is considered a visionary for the brand, having modernized Estée Lauder for international success. She is also well known among Manhattan socialite circles.

Jane is the global president for the brand, as well as the general manager of Lauder's countless satellite brands. Founded in 1946, Estée Lauder herself started out by selling small batches of creams in New York beauty salons. The company has expanded so much that it now owns brands like MAC Cosmetics, Bumble & Bumble, Bobbi Brown, LA Mer, Clinique and Origins, among others.

The family still holds an 85% stake in the company, and with Aerin and Jane both sitting in executive positions, is still deeply engrained in keeping Estée's dream alive. (Daily Mail)

Holiday gift guide 2013: For the girl who loves holiday parties

Holiday gift guide 2013: For the girl who loves holiday parties