According to reports, Kylie Jenner’s net worth was $1 billion at the age of 21.
According to Forbes, who includes Jenner on its list of the world’s billionaires, she is the youngest billionaire in history and the youngest self-made billionaire ever.
Jenner inherited the title from Facebook co-founder Mark Zuckerberg, who became a billionaire at the age of 23 in 2008, and Microsoft co-founder Bill Gates, who held it from 1987 to 1987 when he was 31 years old.
Jenner’s newfound riches stems mostly from Kylie Cosmetics, her makeup line, which Forbes has pegged at $900 million. Last summer, Kylie Cosmetics secured an exclusive distribution agreement with the retailer Ulta, which significantly boosted sales for Jenner’s brand (Forbes reports that Kylie Cosmetics sold $54.5 million worth of goods in Ulta shops the first six weeks of the partnership). Jenner said she intends to work on the firm “forever” before passing it down to her daughter, Stormi, who just turned one.
She was born into riches and celebrity; some social media detractors have taken issue with her being described as self-made. Jenner’s entrepreneurial endeavors are outstanding in any case. She is the Jenner-Kardashian family’s most financially successful member: Kim Kardashian West, her elder half-sister, is reported to be worth $350 million.
Jenner gets money via her paid app, “The Kylie Jenner Official App,” as well as retail sales from her sister Kendall Jenner’s TV shows like “Keeping Up With the Kardashians” and “Life of Kylie,” and other partnerships with retail brands like Adidas, Topshop, and Quay Australia.
On November 30, 2015, Jenner debuted her beauty line with the $29 Kylie Lip Kit, liquid lipstick with a matching lip pencil that sold out in minutes. The firm has achieved $420 million in revenue in just 18 months. Her Christmas collection, which was released in 2016, generated approximately $19 million in a single day. In comparison, the first product launch from Kardashian West’s new beauty line, KKW Beauty, brought in an estimated $14.4 million in sales.
In any case, Jenner tells WWD that she isn’t concerned about competition from Kardashian West, with whom she first teamed for Kylie Cosmetics, because they each appeal to a distinct audience.
Her teen infatuation inspired Jenner’s beauty line with YouTube tutorials: “I went to makeup to help me feel more confident,” she says in Forbes. Jenner trademarked “Kylie Lip Kit” at 17, two years before it was publicly introduced. Kris Jenner, her mother, and the manager agreed to join with Seed Beauty’s current manufacturer, just six weeks after her initial makeup release.
Jenner’s items are particularly popular since she only makes a limited amount of them available for each launch, which generally sells out. However, seed Beauty co-founder Laura Nelson told Vanity Fair that allegations that Seed Beauty and Kylie Cosmetics purposefully create the sense of scarcity are untrue, adding, “We are running the production 24-7 to satisfy demand.”
In 2016, Jenner stated Complex Magazine, “I want to be as big as the other [cosmetic] firms.”
Kylie Jenner: One of the Most Followed Celebrities
Jenner has 313 million Instagram followers and 26.7 million Twitter followers. However, she mostly sells her cosmetics online. “Jenner tells Forbes, “It’s the power of social media.”. “Because I had such a lengthy reach, I couldn’t start anything.”
Jenner was included on Forbes‘ list of America’s Richest Self-Made Women in 2018 when her net worth was estimated to be at $900 million. Jenner, who made $41 million the year before, was the youngest star on the Forbes 100, a list of the world’s top-paid celebrities, including Chance The Rapper, Justin Bieber, and Taylor Swift.
She maintains a strong bond with her family. In starting, Jenner owns 100% of Kylie Cosmetics as CEO, chief marketing officer, and chief creative officer, while Kris Jenner acts as the company’s chief financial officer. She has sold the 51% shares of Kylie Cosmetics to publicly traded Coty, Inc. in January 2019. Jenner told Time Magazine that “she was most inspired by her elder sister when she was named one of the most important teenagers of 2016”. Jenner described Kardashian West as “so committed, so brilliant, such a businesswoman, and she’s always doing stuff and coming up with new ideas.” “She has instilled in me a strong work ethic.”
Last year, Jenner remarked on “Life of Kylie”, “I truly do feel like people don’t take me seriously as a businesswoman because of my age and my notoriety.” “But I feel like they’re starting to. I like to prove people wrong.”
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