Kylie Kristen Jenner, an American reality television personality, model, entrepreneur, socialite and social media personality, with a Net worth of $900 million, and said to be the 7th most followed instagram user, at the age of 20 will by next year, be the youngest billionaire ever!
Hurts to imagine what I was doing, at 20.
Forbes has come out with their fourth annual ranking of America’s Richest Self-Made Women, and Kylie Jenner has made it to the list. She is, in fact, the youngest person on the list.
Jenner, who is only 20 years old, is worth a whopping $900 million, according to Forbes.
A long, detailed article published by Forbes explains the rise of the fast-expanding makeup company set up by Jenner. The company, which is owned entirely by Jenner, is called Kylie Cosmetics and was launched only two years ago.
Kylie Cosmetics, according to Forbes, has sold more than $630 million worth of makeup since its launch, including an estimated $330 million in 2017. Forbes values Jenner’s company at nearly $800 million. Adding the millions she has earned from TV programs and endorsing products like Puma shoes and PacSun clothing, and $60 million in estimated after-tax dividends she has taken from her company, Jenner is worth $900 million.
In contrast, the 37-year-old Kim Kardashian West is worth $350 million.
Another year of growth for Kylie Cosmetics will make Jenner the youngest self-made billionaire ever, male or female, surpassing Mark Zuckerberg, who became a billionaire at 23.
The Forbes article also dissects the role of social media in the rapid rise of Jenner’s business venture, and the inner workings of her company. According to Forbes, Jenner’s near-billion-dollar empire consists of just seven full-time and five part-time employees. The company’s manufacturing and packaging is outsourced to Seed Beauty, a private producer in California; and sales and fulfillment to online outlet Shopify. The company’s finance and PR is managed by her mother Kris Jenner in exchange for 10 percent management cut she takes from all her children.
Kylie has used social media to her advantage by constantly promoting her products on different platforms. She is active on Instagram and Snapchat almost ever hour, marketing the Kylie Cosmetics lipstick shade she is wearing. With over 110 million followers on Instagram and millions on Snapchat, Jenner is able to reach a massive customer base comprising mostly of young girls. The official Kylie Cosmetics Instagram page has more than 16.4 million followers and its Twitter account has 25.6 million followers.
Kylie is the youngest daughter of Kris and Caitlyn Jenner (formerly Bruce Jenner), sibling of supermodel Kendall Jenner and half-sister of Kim, Kourtney, Khloe and Rob Kardashian, Keeping Up With the Kardashians first aired when Kylie was just 10 years old. In 2014, teenagers popularised the ‘Kylie Jenner Lip Challenge’, a viral trend which required them to insert their lips into a shot glass and suck out the air.
Jenner, who recently gave birth to her baby daughter Stormi, tells Forbes that she envisions working on Kylie Cosmetics “forever”.
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