Forbes just released the annual list of world billionaires, and Kylie Jenner is still the youngest billionaire on the planet.
Yes, the youngest (then 22). Yes, self-made (despite the great help of his famous family, he did not inherit his business, he built it). And yes, billionaire (that’s $ 1 billion).
In March 2019 Jenner first hit the multi-million dollar list then after maintaining the solid position in November, when she agreed to sell 51% of her Kylie cosmetics to beauty giant Coty Inc. for $ 600 million. Took The deal closed in January, taking his business to approximately $ 1.2 billion. Cash from sales and the remaining 49% of the company’s shares make Jenner one of 2,095 people in the world with a ten-digit fortune.
“I wasn’t expecting anything. I didn’t predict the future,” Jenner previously told Forbes, “but” recognition] feels really good. It’s a good pat on the back. “
In 2014 she has started her cosmetics empire quickly transforming her social media into a dedicated customer base and using a modeling income of $ 250,000 to produce a Kylie-branded lip kit to pay the outside company. $ 29 matching lipstick with lip liner. Within a minute the first batch of 15000 lip kits sold. It soon expanded, launching 500,000 kits in six colors a few months later.
Thanks to the business globe, self-promotion and almost non-existent overhead.
Manufacturing, packaging, sales and order fulfillment: all were controlled by external companies. Mom Chris Jenner handled finances, and Kylie was widely marketed on social media. Jenner sold everything on her own website until the end of 2018 when she signed an exclusive distribution agreement with Ulta Beauty to put her products on the retailer’s shelves.
Around that time, Forbes respected Jenner, then $ 900 million, as the youngest self-made billionaire, in an August 2018 cover story. A few months later, he crossed the $ 1 billion thresholds and She officially became the youngest of a billion, best for our reckoning, Mark Zuckerberg, who previously held the title, when Facebook gave him 23 at the age of one, was elevated to billionaire status.
Jenner is one of the world’s ten billionaires under the age of 30.
Seven out of ten are heirs. Only three made their fortune. In addition to Jenner, there is John Collison, co-founder of payment processor Stripe and is valued at $ 3.2 billion, and Snapchat co-founder Evan Spiegel, valued at $1.9 billion. They are both 29–7 years older than Kylie Jenner.