Blakely, the creator and owner of the line of women’s slimming, smoothing undergarments called Spanx, is the youngest self-made woman to make Forbes list – meaning she didn’t inherit or marry into the money.

She's one of several billionaires who appear on the cover of the latest Forbes issue.

According to Forbes, Blakely was 29 when she invested $5,000, her entire life savings, in an attempt to come up with something flattering to wear under her white slacks. She ended up inventing a new line of shaping underwear.

On Thursday, Blakely appeared on "CBS This Morning" and talked about her rise to wealth.

"I've always had that gratitude that I had the opportunity to pursue my potential," she said. "So I think my story says that, when women are given the chance and the opportunity, that we can achieve a lot. We deliver. We can make the world a better place, one butt at a time."