Monday, 12 November, 2018

Kylie Jenner likely to become youngest 'self-made' billionaire ever

Courtesy Of Forbes View View 25 Courtesy Of Forbes View View 25
Herman Weaver | 12 July, 2018, 00:02

"Kylie Cosmetics launched two years ago with a $29 "lip kit" consisting of a matching set of lipstick and lip liner, and has sold more than $630 million worth of makeup since, including an estimated $330 million in 2017", reads the report. "I don't want to do it with anyone else, '" Jenner said.

Kylie, who also features on the cover of Forbes' August edition, has made about $900 million as the founder and owner of Kylie Cosmetics, her commercial deals with Puma and other brands and through the revenue that comes from being a reality TV star. Her famous sister Kim Kardashian West is only worth $350 million by comparison. "It could easily be an instant game-changing acquisition for any company on the hunt for a winning brand with a younger customer", senior VP or merchandising at Ulta Tara Simon said. Forbes says she's "conservatively worth $900 million", and another year of growth will put her on track as not just the youngest female self-made billionaire ever, but the youngest self-made billionaire ever, period, beating out tMark Zuckerberg, who reached the billion-dollar mark at 23.

"Ever since I was in sixth grade, I would wear purple eye shadow", Jenner said. I do feel like people don't take me seriously as a businesswoman because of my age and my reputation. Jenner is both the face of the company and the sole owner. "I don't want to do it with anyone else, '" Jenner told Forbes, saying she used almost a quarter million dollars of her own money from modeling to make the first 15,000 lip kits.

While makeup and more specifically lip kits were a natural fit for Jenner ― she recently made headlines for ditching her signature lip fillers ― she says she "struggled for a minute" to identify her passion in a family where each member is successful in their own way.

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Granted, being born into a rich family must have given her a pretty good head start, but her hard work and business mind can't go unnoticed.

And impressively, Kylie, who gave birth to her daughter Stormi in February, owns 100% of her company.

"Maybe one day [I'll] pass this on to Stormi, if she's into it."

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