Forbes- Kylie Jenner (20) on cusp of billionaire status

NEW YORK- At just 20 years old, reality star and make up mogul Kylie Jenner has been named by Forbes magazine as their youngest ‘self made’ billionaire.

Kylie is a young mother to Stormi who she gave birth to in February. Jenner set up Kylie Cosmetics two years ago and the company has already sold more than $630 million(R8.5 billion) worth of makeup according to the magazine.

Forbes has estimated that her company is worth at $800 million and raised her overall worth to $900 million by throwing in earnings from television programs, endorsements and after-tax dividends.

Kylie owns 100% of the company, her trademark “Lip kit” which started at the price $29, which had matching set of lipstick and lip liner that traded on her trademark pout.

Kylie tweeted , “Thank you @Forbes for this article and the recognition. I’m so blessed to do what I love everyday,” she tweeted next to a photograph of the cover story.

Her success has been attributed to her fame and ability to use social media to her advantage, having more than 110 million followers on Instagram, 25.6 million on Twitter and 16.4 million follow her company directly.

“As ultralight startups go, Jenner’s operation is essentially air. And because of those minuscule overhead and marketing costs, the profits are outsize and go right into Jenner’s pocket,” Forbes wrote.

Reality TV show “Keeping Up With the Kardashians” launched when Kylie was 10 years old. Aged 17, she trademarked the phrase “Kylie Lip Kits… for the perfect pout.”

Forbes said she used $250,000 she earned from modelling to pay a company so she could produce the first 15,000 lip kits, which she spent months teasing on Instagram. They sold out in less than a minute at the November 2015 launch.

Jenner admitted to having temporary lip fillers and on Sunday, she revealed on Instagram that she removed them.

However some people on social media questioned Forbes decision of Kylie being “self made” because of her wealthy background.

Forbes added, “As ultralight startups go, Jenner’s operation is essentially air. And because of those minuscule overhead and marketing costs, the profits are outsize and go right into Jenner’s pocket.”

Photo Credit- Rappler

 

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