Just FYI: Kylie Jenner Is Worth $1.2 Billion and Is on the Cover of Forbes
At 20 years old, Kylie Jenner has had a myriad of life experiences that most teenagers and 20-somethings will never have; calling Kim, Kourtney, and Khloé Kardashian half-sisters, having 110 million Instagram followers, and living life under a microscope are just the tip of the iceberg. But as of today, Jenner has accomplished something that most hardworking adult businesspeople will never stake claim to: a Forbes cover story, for the women billionaires issue, no less.
While Jenner has always been a role model within the fashion and beauty worlds, her latest cover proves that she's a force to be reckoned with professionally. At just 20 years old, Kylie Jenner is on track to become the youngest ever self-made billionaire, having built a $800 million fortune (in U.S. dollars) off her makeup empire in just three years. When you factor in her TV appearances and product lines and endorsements, the publication conservatively estimates that Jenner is worth $900 million U.S dollars (around $1.2 billion AUD) With another year of growth, Jenner is set to outgrow Mark Zuckerberg, who became a billionaire at age 23.
The Kylie Cosmetics empire consists of just seven full-time and five part-time employees, while manufacturing and packaging is handled by Seed Beauty, sales and fulfillment by Shopify (which also powers Kardashian-West, Justin Bieber, and Drake's online stores), and finance and PR by none other than shrewd momager Kris Jenner, who takes a 10 percent management cut of all the profits. In other words, nearly all of the profits go straight to Kylie.
"As ultralight startups go, Jenner's operation is essentially air. Because of those minuscule overhead and marketing costs, the profits are outsize and go right into Jenner's pocket," writes the publication. "Social media has weaponized fame to the point that a real estate mogul can be president and a 20-year-old from a family 'famous for being famous' can approach billionaire status by monetising that to the extreme."
Head over to Forbes for the full story.