Kylie Jenner now ranks third place in the world’s richest celebrities. She’s 2 steps away from Floyd “Money” Mayweather and George Clooney. It’s interesting to point out that both of them started their careers even before Kylie was born. According to Forbes’ projections, Kylie Jenner is on her way to becoming the “youngest self-made” billionaire ever.
Forbes reports that Kylie Jenner has a net worth of $900 Million and according to her, even though she was born rich and into fame – she struggled to find something to do of her own which would be solely her’s and not having to eat from the family’s table.
Kylie is 20 years old (would be 21 by August 2018) and she’s richer than all of her Kardashian and Jenner family members. A very big part of her fortune was made from her namesake fast-growing makeup brand – Kylie Cosmetics.
She owns 100% of her company which is a very good thing as most young billionaires have to give out equities in their businesses / startups before it can reach the billion dollar level. She gets to keep a large chunk of the cheese.
Kylie Jenner covered the newest edition of Forbes magazine for August 2018 and it brought a lot of backlash on social media because she was tagged “Self Made” a term which clearly means someone making it without the aid of anyone – especially a rich family.
Many people took to social media to troll Forbes saying that there is no way she is “self made” because she is not only from a rich family but was born into fame and has had the spotlight since she was like 10 years old.
In a statement to CNN, Forbes acknowledged “there are many who are more self-made than others. Yes, Kylie comes from a wealthy family and she got a visibility boost from her family but she owns her company and is valued based on earnings she has personally received and on the value of the company she founded.”
Forbes Kylie Jenner Net Worth & Life.
As stated earlier, Kylie Jenner was born into the spotlight and her life was always under a microscope. Born on the 10th of August 1997 in California, she grew up in the spotlight in the Kardshian family reality series Keeping Up With The Kardashians which was debuted following the release of a sex tape involving her sister Kim that garnered vast media attention, in 2007.
Kylie is a very smart and savvy business person. Instead of enjoying all the fame, she used it to build a massive online following and built one of the fastest growing makeup businesses in the world.
With over 100 million followers on Instagram, in 2015 she made the Time magazine’s Most Influential Teens list for her reach and social media influence.
She has so much power on social media that when she tweeted about her diminished interest in using the Snapchat platform in February 2018, shares of Snapchat’s parent company dropped by 6.1 percent the following day, wiping out a whopping $1.3 billion in market value. (now, thats mad”)
Her early life was filled with glamour, fame and riches and she has been smart enough to capitilize on those things to build something of her own. She is even thinking ahead for her newly born baby – Stormi. She has “Maybe one day I’ll pass this on to Stormi, if she’s into it” (She was talking about her Kylie Cosmetic Brand)
“When I’m, like, 30, I want to go off the map, have a family, and live in Malibu with a farm, and just raise my own chickens.” -Kylie Jenner
Kylie Jenner’s Career.
With the success and public interest on her life, Kylie has expanded her brand and her life beyond that. She and her sister launched a clothing collection PacSun and TopShop called Kendall & Kylie, since the launch they have released several collections for the line and they launched a jewelry line with Pascal Mouawad’s Glamhouse to create the Metal Haven by Kendall & Kylie jewelry collection.
“I struggled for a minute with finding something to do on my own,” Jenner says. With her mother Kris’s guidance, she started making seven figures as a model, locking down endorsement deals with British retailer Topshop and Sinful Colors nail polish, among others.
Her most notable career move was launching her Make up brand – Kylie Cosmetics 2 years ago. What her sister Kim did for booty, she did for lips and made a killing with it.
Kylie Cosmetices launched a Lip-kit that sold for $29 consisting of a matching set of lipstick and lip liner, according to Forbes, it has sold over $630 million since then, including an estimated $330 million in 2017. Forbes values her company which she owns 100% of at $800 million.
She is currently worth $900 million and another year of growth (which is very certain by the way) will make her one of the youngest ever billionaire trumping Facebook’s founder Mark Zuckerberg who became a billionaire at the age of 23.
What is worth pointing out is that her almost billion dollar company consists of just 7 full time and 5 part time employees. How is this possible? She uses the Dropshipping business model where most of the business’s dealings are outsourced and fulfilled by their party companies. The company See Beauty in California makes her kits and private labels it as her’s.
She invested $250,000 of her own money earned from paid modelling gigs into creating her own lip kit brand by third party company -Seed beauty for their first batch of 15,000 pieces. She spent months teasing the release of her brand and then announced the launch before they went on sale on November 30, 2015, it sold out in one minute! It was such a massive success that resellers on ebay were flipping the $29 product for $1,000 a pop!
It is safe to say the only thing Kylie Jenner does to make money is to capitalize on her brand and fan worship / crazy following on social media. This is genius!
Forbes Key Facts.
- The most junior member of the Kardashian-Jenner clan is also its richest thanks to her fast-growing makeup brand Kylie Cosmetics.
- Famous for its $29 lip liner and lipstick “lip kits,” Kylie Cosmetics has since expanded into eyeshadow, highlighter, eyeliner and more.
- Its limited edition product “drops” create giant flash sales, as in November 2016 when her holiday collection snagged nearly $19 million in 24 hours.
- Kylie Cosmetics has sold more than $630 million worth of makeup since its founding in February 2016.
- Jenner owns 100% of the company.
Inspiring Quotes from Kylie Jenner.
People think they have a perfect idea of who you are from a four-second Snapchat video… and fake blogs, stories, magazine covers. In reality, that’s not the case. Nobody knows who I am except family and my close friends.
Every time I start to get worked up over something, I just think to myself, ‘Is this really going to matter in my life tomorrow, in an hour, in a year?’ You just can’t get stressed about the little things ’cause it’s just not worth it at the end of the day.
I never feel pressure to be a good role model. I always try to do my best to inspire people to be good and do the right thing, but I just can’t live my life always trying to be a good role model.
We’re all trying to find ourselves, growing up and making mistakes and trying something different. For me, it’s just a little different because everybody’s watching me
Kylie Jenner even though receives a lot of backlash for not being “self made”, she is a business savvy young girl with her own dreams. She’s on her way to becoming a billionaire, no matter how much handouts you can get from your family – this is still a very notable achievement and we wish her nothing but the best.