Kylie’s first exposure to fame came at the age of 9 when she appeared on keeping up with the Kardashians; a reality TV show. Under the wings of her mother and older sisters, she has grown into a woman of her own. From appearing on her family’s reality TV show she has gone on to have her own reality show named the “Life of Kylie”. She uses her show to give her followers deep insights into things going on in her life. She also flaunted her luxurious lifestyle. Fans couldn’t get enough of her as her fan base and social media following grew tremendously. At a very young age of 21, she was reported by Forbes as a billionaire. Her net worth was estimated to be $1 billion.
She just turned 22 years on the 10th of this month. She becomes the youngest self-made billionaire in history. She equally doubles as the youngest billionaire ever. s
By achieving this feat she dethrones the co-founder of Facebook, Mark Zuckerberg who was 23 in 2008 when he held this title. To put it in better perspective, Bill gates achieved the same feat at the age of 31.
Her primary source of stupendous wealth comes from her Kylie Cosmetics managed by her mother Kris Jenner. The company valued at $900 by Forbes and it is projected to bring in up to $1 billion in sales by 2022. The distribution deal that Kylie Cosmetics signed with retailer Ultra helped to boost sales in the summer past. She has spoken about investing a long time into building the company and handing it down to her one-year-old daughter Stormi.
She said in an interview with Forbes that “I didn’t expect anything. I did not foresee the future,” however she candid about the good feeling it brings stating that “But [the recognition] feels really good. That’s a nice pat on the back.”
Kylie has her hands on different businesses ventures apart from her cosmetic cash cow. She has business dealings with brands like Quay Australia, Adidas, and Topshop. She also makes money from her personal reality TV shows” Life of Kylie ” and her family’s own” Keeping up with the Kardashians”. She has an ongoing book series and her app, the “Kylie Jenner Official App. ” She has an online shop and a joint fashion line with Kendall Jenner her Sister.
In late November 2015 when Kylie launched her Kylie Lip Kits, they were just made up of three colors three namely Brown, Dolce which was dark nude and Candy K which was Pink. The kit was made up of a pencil and solvent lipstick. Within minutes of release, her beauty products sold out. She had 56 Million followers on both Instagram and Twitter at the time – a number the has since increased tremendously. With sales worth over $400 million in the 18 months, the company got off to a hugely successful start.
“I want to be as big as the other [cosmetic] brands.” She stated in an interview with Complex Magazine in 2016. That sounded like a mission statement. It must have been a great passion that lead Kylie to immerse her self in a lot of YouTube tutorials on make-up at a very tender age. She started sharing what she had learned with her online followers on social media especially on Instagram. She leverages the advantage that her massive online following availed her. With each picture of her make-up looks shared online, her audience kept growing. That was what made her and her team consider the idea of starting a company of her own.
She has 154.7 followers on Instagram and Twitter combined – 128 million followers on Instagram and 26.7 million followers on Twitter respectively. Jenner sells most of her cosmetic products online. Speaking to Forbes she said: “It’s the power of social media. I had such a strong reach before I was able to start anything.”
Jenner was on the list of America’s Richest self-made women In 2018 with an estimated net worth of $900. She made it to the Forbes 100 in 2017 and when in 2016 she was recognized as one of Time magazine’s most influential teen, she took time out to acknowledge how her older Sibling Kim Kardashian always inspire her through her ingenuity and relentless hard work.
Her mother Kris Jenner is her company’s chief financial officer while she completely owns Kylie Cosmetics. She is the CEO, chief creative officer, and chief marketing officer of the company. She has maintained a very strong bond with her family. She is very close to her sisters who contributed immensely to her upbringing. She said Khloe gives her relationship advice, Kourtney advices her on health and Kendall is like her pal. It clear that her close relationship with her family has helped her life and business.
In an episode of her TV show “Life of Kylie,” she stated that a lot of people still don’t see her as a serious business person probably due to her age and “reputation”. This recent achievement of hers will surely put to bed all those doubts.
There has been a lot of debates as to whether Kylie is self-made or not. There is no doubt that she got a great headstart given her background but how many people who inherit millions are even able to grow it into more millions. She said that she saved up money ($250 thousand) from her modeling engagements to start her company and that her parents had told her to start fending for herself from the age of 16. Forbes explained self-made billionaire to mean billionaires who built their fortunes and never inherited it or got it as a gift. Jenner fits in with this definition. She is a self-made billionaire.