For the second year running, Kylie Jenner’s making headlines as the youngest self-made billionaire in the world! Selling off Kylie Cosmetics for $600 million has brought her up to $1.2 billion, ‘Forbes’ announced.
Forbes just released their annual World’s Billionaires list, and yes, for the second year in a row, Kylie Jenner is the world’s youngest self-made billionaire. Kylie, 22, first nabbed that title in March 2019 after her Kylie Cosmetics empire and reality show roots brought her worth to a cool $1 billion. She cemented her billionaire status in November 2019, when she inked a deal to sell 51% of Kylie Cosmetics to beauty group Coty Inc. for a staggering $600 million. The deal to retain 40% of her company, which closed in January 2020, brings her up to $1.2 billion — making her one of just 2095 billionaires in the world!
The “self-made” part of her title still gives people pause, considering the considerable wealth and privilege she enjoys as a member of the most famous families in entertainment. Forbes continues to defend their decision because, “despite a lot of help from her famous family, she didn’t inherit her business — she built it.” Fair enough. Kylie started her cosmetics company in 2014, when she was just a teenager, turning social media obsession with her makeup and over-lined lips into an empire. Taking $250,000 she earned from modeling, she paid a company to produce Kylie Lip Kits for $29 a pop — and the first 15,000 kits sold out in less than a minute.
Kylie became an unstoppable force and crafted a beauty empire, expanding to all kinds of makeup and skincare products, amassing a cult following. She inked an exclusive distribution deal with Ulta Beauty in 2018, bringing her worth to $900 million. Forbes infamously put her on their August 2018 cover to announce that she would soon unthrone Facebook founder Mark Zuckerberg as the youngest self-made billionaire. Boy, did she prove them right!
Sourse: hollywoodlife.com
