Kylie Jenner To Overtake Mark Zuckerberg As Youngest Ever ‘Self-Made’ Billionaire
Kylie Jenner is projected to take over Mark Zuckerberg as the youngest ever ‘self-made billionaire’.
Forbes magazine unveiled their August issue cover on Wednesday, showing the 20-year-old reality TV mogul to coincide with ‘America’s Women Billionaires.’
According to them, Kylie is currently worth an astonishing $900 million thanks to her cosmetics line.
Once she hits that sweet $1 billion mark, she will overtake the Facebook founder as the youngest-ever self-made billionaire.
Kylie’s range has brought in $630 million since its 2015 launch, the site writes:
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 nearly $800 million. Jenner owns 100% of it.
Add to that the millions she’s earned from TV programs and endorsing products like Puma shoes and PacSun clothing, and $60 million in estimated after-tax dividends she’s taken from her company, and she’s conservatively worth $900 million, which along with her age makes her the youngest person on the fourth annual ranking of America’s Richest Self-Made Women.
Describing the delays around setting up the line, Jenner herself said:
I had Kylie Lip Kit trademarked like two years before it even launched and I was like bugging my mom about it. I see it, like, I need to do this.
She was like “Okay, put up your own money, like stop talking about the Lip Kit.” And then I didn’t even order a lot and I was like “Okay, if this doesn’t work out you’re gonna have, like, a lot of Lip Kits in your garage”.
I didn’t even make it to my launch party. I like refreshed the page and in two seconds everything was gone and like I just remember me and all my glam people, my friends, we were like screaming.
And then the Kylie Instagram used to be Kylie Lip Kit and then the day after I changed it to Kylie Cosmetics and I was like “This is like gonna be something, like, I can actually do, yeah.”
It’s also been reported that in just 24 hours Kylie brings in around $49.3k (£37.4k). The average yearly wage in the UK is £27k.
In November 2015, Jenner launched her namesake beauty business with three Lip Kits, which sold out in less than 60 seconds. She since expanded her range to include eye makeup, blush, ‘kylighters’ and make-up tools, released in surprise ‘drops’ that get fans’ fingers racing for the check-out button.
In 2016, the Jenner sisters launched their own eponymously named clothing line at New York Fashion Week, which featured multiple interpretations of the Kardashian favourite: the bodycon dress. A Kendall + Kylie swimwear line was also released in collaboration with Topshop.
Going back to her roots – but this time without her family – Jenner launched the King Kylie collection of nail varnish with Sinful Colors. In the eight days following the launch, Superdrug sold one bottle every eight seconds.
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