Kylie Jenner, of Kylie Cosmetics, has become the world’s youngest self-made billionaire after her company signed a unique collaboration with Ulta Beauty Inc.
Jenner, 21, is worth $ 1.02 billion, according to the Bloomberg Billionaires Index, which assumes that she owns 90 percent of her business and ascribes the rest to her mother Kris, who takes a management cost in exchange for handling public relations and financing. Forbes, depending on a various methodology, reported previously Tuesday that Jenner had accomplished the turning point.
Jenner, the half-sibling of Kim Kardashian, founded Kylie Cosmetics in 2015. The company published $360 million of profits last year, a 9 percent increase from 2017, according to Forbes.
Bloomberg worths Jenner’s firm by comparing it with four publicly traded stocks: L’Oreal SA, Inter Parfums Inc., Estee Lauder Cos. and Fairy Appeal Inc. Kylie Cosmetics outsources its manufacturing and packaging to Seed Appeal and sales and satisfaction to Shopify. The information of those plans aren’t public and might change the evaluation.
Bloomberg classifies people as self-made if they do not acquire their wealth through marriage, death or bequests. Jenner, the youngest member of the Kardashian-Jenner clan, has actually amassed 128 million Instagram fans and leveraged that appeal to promote her items.
Kylie Jenner: Path to $1 billion
Jenner’s expert profession began at an early age. After being featured in the family reality show “Keeping Up With The Kardashians,” Jenner snagged her very first $100,000 recommendation deal with nail polish brand name Nicole by OPI in 2013 at the age of 16. That exact same year, Jenner and her sister Kendall launched The Kendall and Kylie Collection through a handle PacSun.
In 2014, at the age of 17, Jenner introduced a shoe and handbag line with Steve Madden, Ltd.
In 2015, Jenner and her sibling introduced a clothesline with Topshop, and Kylie produced her first ever lipstick line, Kylie Lip Kit. That exact same year, Jenner produced a customized website and released a brand-new mobile app.
In early 2016, Jenner’s cosmetic company took on the name Kylie Cosmetics, and here service profession began to actually pick up steam.
Through a collaboration with Ulta Beauty Inc., Kylie Cosmetics produced $360 million in profits in 2018 and is now worth an estimated $900 million. This year, Jenner’s success with Kylie Cosmetics finally pushed her into the billionaire’s club at the age of 21.
While some Jenner fans took to social networks to congratulate her on her accomplishment, others were important of those describing her success as “self-made.” Jenners’ moms and dads, Caitlyn and Kris, have an approximated combined net worth of around $160 million.
The site Star Internet Worth called out Forbes for inflating Jenner’s net worth, declaring the star’s real net worth is in between $300 million and $400 million.
“I’m not a Kylie Jenner hater. I just think it’s sad that Forbes is stooping to clickbait headlines based on fuzzy math to to sell magazines and generate page views,” Star Internet Worth creator Brian Warner composed in action to the Forbes news.