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11 July 2018, 11:58 | Myron Mathis
Kylie Jenner poised to become youngest billionaire ever
In a feature story about the youngest member of the Kardashian clan, the magazine estimates that her beauty company Kylie Cosmetics-launched less than three years ago, in November 2015-is worth $800 million.
Her last name is Jenner, as in, Kris and Caitlyn Jenner, her parents, who are very rich and very famous.
Luckily for Kylie Jenner, she's officially won the Kar-Jenner billionaire race! According to Forbes, she sold more than $630 million worth of makeup since its launch, including an estimated $330 million in 2017.
"Social media is an wonderful platform", Jenner told Forbes.
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".
The mag values her Kylie Cosmetics makeup company - of which she owns 100% of - at almost $800 million. I have such easy access to my fans and my customers'.
"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", Forbes reported.
"I struggled for a minute with finding something to do on my own", she told Forbes.
"Before I even refreshed the page, everything was sold out", Jenner said. "I don't want to do it with anyone else, '" Jenner told Forbes, saying she used almost a quarter million dollars of her own money from modeling to make the first 15,000 lip kits. Jenner is the sole owner. It called her business' overhead costs "minuscule".
Kylie Cosmetics is dealing with slowing growth - Forbes reports that revenue grew just 7% past year, with lip-kit revenue dropping an estimated 35%.
"Maybe one day [I'll] pass this on to Stormi, if she's into it", she said.
"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 almost $800m".
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