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Kylie Jenner was dubbed by Forbes in 2019 as the “Youngest self made” billionaire. Latter, they admitted that the diva had exaggerated her net worth to $600 million. Here’s how Kylie Jenner has made her fortune from different businesses like Kylie cosmetics, social media, TV appearances, and product endorsements.
The 25-year-old reality star Kylie Jenner is well-known for living a lavish lifestyle. She has been spotted taking short trips in her $73 million private plane or renting $200 million boats.
Thanks to her makeup brand, Kylie Cosmetics, Forbes dubbed her the youngest “self-made” billionaire in 2019 at the age of 21. Forbes, however, disclosed in 2020 that Jenner is not a billionaire. According to the magazine, she misled Forbes and other media outlets by exaggerating the company’s performance.
Forbes reports that Jenner, who founded Kylie Cosmetics in 2015, made $400 million in sales in just 18 months. She valued her company at $1.2 billion when she sold the majority of it to Coty Inc. in November 2019 for $600 million.
Here’s how she made her fortune
At first, Forbes pegged Kylie Cosmetics’ value at $900 million. Combined with her own earnings, this elevated Kylie Jenner’s net worth above $1 billion, according to Forbes. Forbes was chastised by many, meanwhile, for referring to Jenner as “self-made,” citing her rich and well-known family as evidence.
Jenner gave an interview to Paper magazine in response to the criticism. She argued that the term “self-made” was appropriate because her parents had “cut her off at 15,” leaving her to fend for herself.
For 20 seasons, Kylie Jenner worked as a reality TV star on Keeping Up With The Kardashians. When the show debuted, she was only nine years old. The Kardashians, a reimagined version of the original show, made its Hulu debut on April 14, 2022. Fans will remain interested in this new series as it follows the lives of Kylie and her well-known family.
According to a 2017 People article, the Kardashian family made about $30 million for each season of KUWTK. However, it’s unclear how much each individual family member was paid from this total. Undoubtedly, the show’s enormous success added to the family’s increasing affluence and notoriety.
Kylie Jenner also for a while starred in her own spin-off show, “Life of Kylie,” in 2017.
At the young age of 15 Kylie Jenner and her sister Kendall launched the Kendall + Kylie apparel business in 2013. The collection, which was developed in collaboration with PacSun, became well-known very fast, exhibiting the sisters’ sense of style and broadening their influence in the fashion world.
Kylie Cosmetics
Jenner has of course made millions from her makeup brand Kylie Cosmetics. Not shortly after Jenner acknowledged using “temporary lip fillers,” in 2015, the business made its debut as Kylie Lip Kits. In its first two years of business, Kylie Cosmetics claimed to have sold over $630 million worth of makeup. This included revenues that were projected to be $330 million in just 2017. Due in large part to the brand’s quick success, Kylie Jenner became well-known in the beauty market.
Products manufactured, packaged, and sold by Kylie Cosmetics are contracted out to private businesses like Shopify and Seed Beauty. Kylie’s mother and the matriarch of the Kardashian-Jenner family, oversees the financial and PR elements of Kylie Cosmetics. Kris gets paid 10% for managing the account. Her direction has been crucial to the brand’s popularity and public perception, assisting Kylie in creating her own beauty empire.
Kylie Jenner sold Coty Inc., a massive player in the beauty industry, the bulk of her company, for $600 million in November 2019. This transaction, which increased the brand’s exposure in the beauty sector and marked a significant turning point in Kylie’s career, valued the business at $1.2 billion.
Brand Endorsements
Kylie Jenner had substantial endorsement contracts with Puma and other companies. Kylie Jenner has promoted goods from firms including Fashion Nova, SugarBearHair supplements, and Adidas on Instagram by endorsing many brands. She is a sought-after influencer for these firms, helping them reach millions of potential customers thanks to her sizable internet following. According to a 2018 study by social media analytics company D’Marie Analytics, Jenner’s one Instagram post was worth $1 million in advertising.
Together with her family, Kylie Jenner receives a nine-figure salary for their Hulu series The Kardashians. The glitzy lives of the family are followed in the new series, which also offers them a profitable arrangement that increases their riches.
Source: Forbes, Insider, Business Insider