Tuesday, 16 October, 2018

Kylie Jenner set to be the youngest-ever self-made billionaire

Courtesy Of Forbes View View 25 Courtesy Of Forbes View View 25
Julia Gonzales | 11 July, 2018, 20:07

At age 20, Kylie Jenner is making history as the youngest person on the magazine's list of America's Richest Self-Made Women.

"Another year of growth will make her the youngest self-made billionaire ever, male or female, trumping Mark Zuckerberg, who became a billionaire at age 23", Robehmed reports.

Kylie Jenner may be the youngest sibling of the Kardashian-Jenner clan, but she is also the family member bringing in the most cash. She told Forbes that social is "an unbelievable platform" because she has "such easy access to my fans and my customers". Facebook's Mark Zuckerberg now holds the title when he became a billionaire at the age of 23.

"Add to that the millions she's earned from TV programs and endorsing products like Puma shoes and PacSun clothing, and $60m in estimated after-tax dividends she's taken from her company, and she's conservatively worth $900m".

There has always been rumors that Kylie Jenner's Kylie Cosmetics (the brand that launched the OG lip kit and a million copycats) was on its way to being a billion-dollar business, and now it appears that historic milestone is closer than ever.

However, upon realising that she has a huge following on social media, Kylie says that helped her get easier access to her supporters, and maybe that's why her business is doing so well. Kylie - who owns 100% of the company, now worth almost $800 billion - credits social media for helping her build such a massive following of customers.

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The other $100 million of revenue comes from profits generated from her appearances on her family's reality show and other social media endorsements.

While Kylie first made headlines this week for choosing to dissolve her lip fillers, the girl still loves makeup, and she shared with Forbes that Kylie Cosmetics was founded from her own journey to find her passion.

"Ever since I was in sixth grade, I would wear purple eye shadow", Jenner said. "I don't want to do it with anyone else, '" Jenner said.

But in a classic 21st century move she then confirmed the release date the day before it went on sale - and the kits sold out in less than a minute.

"Before I even refreshed the page, everything was sold out", Jenner recalled.

"Even using a conservative multiple, and applying our standard 20% discount, Forbes values her company, which has since added other cosmetics like eye shadow and concealer, at almost $800m".

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