There has long been rumors that Kylie Jenner’s Kylie Cosmetics (the brand that launched the OG lip kit and a million copycats) was on its way to being a billion-dollar business, and now it appears that historic milestone is closer than ever. The 20-year-old graces the cover of the new Forbes magazine “America’s Women Billionaires” issue, and with a valuation topping $900 million, Kylie is on track to be the “youngest-ever self-made billionaire” in history.
In 2016, Kylie Cosmetics debuted with a $29 “lip kit” (for the uninitiated, it’s a matching lipstick and liner duo), and, according to Forbes, she has sold more than $630 million worth of makeup since — including an estimated $330 million in 2017 alone. Using its standard formulation, Forbes values the company at $800 million, and Kylie is the sole owner.
Coupled with the millions she was already earning from Keeping Up With the Kardashians and endorsement deals, the new mom is “conservatively worth $900 million,” which, when you factor in her mere two decades on the planet, “makes her the youngest person on [Forbes’] fourth annual ranking of America’s Richest Self-Made Women.” Forbes contends that, if the earnings trends continue, she will become the “youngest self-made billionaire ever, male or female, trumping Mark Zuckerberg, who became a billionaire at age 23.”
And while billionaires like Zuckerberg and Snapchat’s Evan Spiegel made their fortunes creating social media platforms, Kylie is making hers by leveraging them. She told Forbes that social is “an amazing platform” because she has “such easy access to my fans and my customers.” With no real marketing budget beyond her social strategy, Kylie has revolutionized the way brands — beauty ones in particular — create products and interact with their fans.
While Kylie first made headlines this week for choosing to dissolve her lip fillers, the girl still loves makeup, and she shared with Forbes that Kylie Cosmetics was founded from her own journey to find her passion.
“I struggled for a minute with finding something to do on my own,” Jenner said, before adding, “ever since I was in sixth grade, I would wear purple eye shadow. I turned to makeup to help me feel more confident.”
Reacting to the news of her cover on Instagram (naturally) this morning, the HBIC shared her that her success has defied even her wildest expectations. “Wow, I can’t believe I’m posting my very own @forbes cover,” she captioned the pic. “Thank you for this article and the recognition. I’m so blessed to do what I love everyday. I couldn’t have dreamt this up! #KylieCosmetics.”
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