Lip gloss boss: Kylie Jenner to be youngest self-made billionaire in history

Lip gloss boss: Kylie Jenner to be youngest self-made billionaire in history

Lip gloss boss: Kylie Jenner to be youngest self-made billionaire in history

She's a makeup mogul. "Thank you for this article and the recognition".

"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". Let that sink in.

Kim reportedly became jealous of her little sis' accomplishments and began copying all of her ideas, including her cosmetics line. But as she started making money as a model, adding endorsement deals with British retailer Topshop and others, it all began to add up and her appearance began to be a business. The Kylie Cosmetics Instagram touts some 16 million followers while Kylie Jenner's personal page, which she regularly endorses her makeup on, has roughly 110 million followers. She launched it two years ago with a $29 lip kit containing a lipstick and lip liner.

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In addition to bringing in millions from her families' reality shows and many more millions from product endorsement deals, Forbes estimates her booming makeup company, Kylie Cosmetics, is worth almost $800 million. But, Forbes reports that the lip kit wave is starting to taper off. Kylie's lip-kit revenue dropped an estimated 35% previous year, and company revenue grew by only 7%.

"Jenner first grabbed the spotlight as part of the Keeping Up with the Kardashian" reality TV show with her mother and siblings. At only 20 years old the reality star has built a makeup empire and is on her way to becoming a billionaire. Mark Zuckerberg, the current record holder, was worth $1bn at the age of 23. Kylie will be 21 when she becomes a billionaire if things continue as they are. "I don't want to do it with anyone else, '" she recalls of the kits that sold out in less than a minute. Manufacturing and packaging, sales, finance and public relations are all outsourced. Kris Jenner handles the business side in exchange for the 10% cut she takes from all of her kids. She credited social media with her success. The magazine estimates her worth at $900 million, on par with Jay-Z, the wealthiest man in hip-hop at age 48. After leaping to $307 million in 2016, revenue was up just 7 percent in 2017, despite the addition of 30 products.

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