KYLIE JENNER ‘BILLIONAIRE’ -Atta Girl!!

Femi Bamigbetan

March 6, 2019

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Kylie Jenner is a lot of things: a makeup mogul, a reality TV star, mom and now ”Self-made’ billionaire. As of this week, she’s wears this self-titled crown according to  Forbes’s annual billionaires list.

In July 2018, the magazine published a story on “America’s women billionaires” featuring Kylie, whom it claimed was “set to be the youngest-ever self-made billionaire.” Whether Kylie Jenner, whose family has been behind the popular reality show Keeping Up With the Kardashians .

Critics say her financial success never would have been possible had she not been born into a life of fame and fortune. Despite the moniker, it’s not a stretch to say Kylie’s 10-figure net worth has a little something to do with her famous (and already quite wealthy) family.

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As with the status the big question has been how did Kylie become a billionaire before Kim? Kylie’s financial success, as well as that of her siblings, is largely the result of one woman’s hard work: Kris Jenner, the matriarch of the Kardashian-Jenner family, who also happens to manage all her children’s careers.

The fact that all the money was her own is an important part of Kylie’s story: Kylie is the sole owner of Kylie Cosmetics, as well as its CEO and chief marketing officer. Her mother is its chief financial officer and continues to manage Kylie’s career; Meaning investors and funding were not a part of Kylie cosmetics.

From lip injection rumors to a $900 million business

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The first Kylie Lip Kits dropped in late November 2015. They came in just three colors — Candy K, a light pink; Dolce K, a darker nude; and TrueBrown K — and sold out in seconds. Kylie had more than 56 million combined followers on Instagram and Twitter at the time, and now attributes her success to her social media following. “I had such a strong reach before I was able to start anything,” she recently told Forbes.

 

 

 

Kylie Cosmetics has come a long way since launching its first lip kits in 2015. The brand now sells lip kits in dozens of colors and finishes, as well as lip glosses, standalone lipsticks, eyeshadow palettes, eyeliner, blushes, bronzers, highlighters, concealers, and makeup brushes. In late 2018, the brand signed an exclusive distribution deal with the beauty retailer Ulta, putting Kylie’s products in stores across America for the first time ever.

According to Forbes, Kylie Cosmetics sold $54.5 million worth of products in Ulta in the first six weeks after the rollout; the brand’s revenue climbed 9 percent last year to an estimated $360 million, which, according to Forbes, means Kylie Cosmetics is worth an estimated $900 million.

Add Kylie’s ongoing endorsement deals and her income from the family’s reality show to that and you’ve got the world’s youngest “self-made” billionaire.

But is Kylie really self-made? Forbes later clarified that it uses the term to describe those billionaires who didn’t inherit their fortunes, but instead built them. “But the term is very broad, and does not adequately reflect how far some people have come and, relatively speaking, how much easier others have had it.”

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#NILLIONS beauty BILLIONAIRE FORBES KYLIE SELF-MADE WEALTH
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