Kylie Jenner becomes the youngest and the second member of the Kardashian family to grace the prestigious Forbes Magazine. At just 20-years of age, the young mother and beauty mogul is defying social media expectations and standing strong as one of the youngest self-made multi-millionaires in America. Forbes state that she has reportedly built and grown her beauty company to being worth a whooping $900 million in just three years.
Kylie, who officially turns 21 in August runs one of the hottest makeup companies ever. 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. 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 that to 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. (We estimate that 37-year-old Kardashian West, for comparison, is worth $350 million.) But she’s not just making history as a woman. 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. (Snapchat’s Evan Spiegel also became a billionaire in his early 20s.
Her near-billion-dollar empire consists of just seven full-time and five part-time employees. Manufacturing and packaging? Outsourced to Seed Beauty, a private-label producer in nearby Oxnard, California. Sales and fulfillment? Outsourced to the online outlet Shopify. Finance and PR? Her shrewd mother, Kris, handles the actual business stuff, in exchange for the 10% management cut she takes from all her children. As ultralight startups go, Jenner’s operation is essentially air. And because of those minuscule overhead and marketing costs, the profits are outsize and go right into Jenner’s pocket.
Jenner’s massive and massively loyal following, however, puts her in a class of her own. The youngest daughter of Kris and Caitlyn Jenner (formerly Olympic gold medal decathlete Bruce Jenner), sibling of supermodel Kendall Jenner and half-sister of Kim, Kourtney, Khloe and Rob Kardashian, Kylie Jenner grew up under a microscope. The family’s Keeping Up With the Kardashians first aired when she was just 10 years old, beaming her onto television screens in more than 160 countries. Steered by their mother, Kris, each scion had a moneymaking scheme, from mobile gaming (Kim) to modeling (Kendall) and even socks (Rob), but the teenage Jenner felt adrift.
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Forbes released a full list of America’s Women Billionaires with familiar faces like Oprah Winfrey, Anastasia Soare aka Anastasia Beverly Hills, Tory Burch, Vera Wang, Madonna, Huda Kattan, Donna Karan and many more. See the full list right here.