Kylie Jenner to be youngest self-made billionaire

Kylie Jenner set to become the youngest self-made billionaire on Forbes list

Since then, however, she has sold more than $630 million worth of makeup, including an estimated $330 million in 2017, reports Forbes.

Jenner became a star thanks to her family's reality TV show, Keeping Up with the Kardashians, but it was when she branched out into beauty, creating the Lip Kits under her Kylie Cosmetics banner, that she really made big bucks. "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.

Forbes valued the company at almost $800 million, while Kylie rakes in another $100 million from endorsement deals and appearances on her family's reality TV show. She regularly posts information and photos about new product lines for her 110 million Instagram followers. But, Forbes reports that the lip kit wave is starting to taper off. Kylie's lip-kit revenue dropped an estimated 35% a year ago, and company revenue grew by only 7%.

Just yesterday, Forbes named her "the youngest-ever self-made billionaire". She takes that money and leverages her social media following.




Of course, we live in the age of social media and that has really helped Kylie reach her fans and customers.

The company has just seven full-time and five part-time employees and they outsource a lot of their overheads including manufacturing, packaging and sales. If things keep looking up for Kylie, she will be the youngest self-made billionaire next year, at age 21. Jenner is the sole owner, reaping all the profits.

As Reynolds wrote, "As the youngest child of an already booming empire, Jenner grew up on television and was born into wealth; her struggles to get her business up and off the ground were eased greatly by her family's wealth". But she undeniably upped the ante with the launch of her super successful makeup line, Kylie Cosmetics, which started with a modest collection of lipsticks and coordinating liners in 2016. She will likely cross the billion-dollar mark next year.

Forbes said she used $250,000 earned from modeling to pay a company to produce the first 15,000 lip kits, which she spent months teasing on Instagram.

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