Kylie Jenner graces the cover of the new Forbes magazine as one of America’s Richest Self-Made Women. Twitter immediately reacting by pointing out that Jenner was born rich as f*ck—she is a member of the Kardashian Klan after all.
Just 20 when this story publishes (she’ll turn 21 in August) and an extremely young mother (she had baby daughter Stormi in February), Jenner runs one of the hottest makeup companies ever. Kylie Cosmetics launched two years ago with a $29 “lip kit” consisting of a matching set of lipstick and lip liner, and has sold more than $630 million worth of makeup since, including an estimated $330 million in 2017. 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 nearly $800 million. Jenner owns 100% of it.
Add to that the millions she’s earned from TV programs and endorsing products like Puma shoes and PacSun clothing, and $60 million in estimated after-tax dividends she’s taken from her company, and she’s conservatively worth $900 million, which along with her age makes her the youngest person on the fourth annual ranking of America’s Richest Self-Made Women. (We estimate that 37-year-old Kardashian West, for comparison, is worth $350 million.) But she’s not just making history as a woman. Another year of growth will make her the youngest self-made billionaire ever, male or female, trumping Mark Zuckerberg, who became a billionaire at age 23. (Snapchat’s Evan Spiegel also became a billionaire in his early 20s, though it’s less clear when he passed that threshold.)
Kylie Cosmetics’ growth is already starting to taper off: After leaping to $307 million in 2016, revenue grew just 7% in 2017, despite the addition of 30 new products. Forbesestimates lip-kit revenue dipped 35% from approximately $153 million in 2016 to $99 million in 2017. Still, Kris Jenner says revenue is up “considerably” in the first six months of 2018 compared with the same period last year–a claim that Forbes couldn’t verify.
Anyway, know who’s self-made? Oprah Winfrey is self-mad. Michelle Obama is self-made. Ava Duvernay is self-made.
Actually, there was a village of people who helped the aforementioned to their success. But, they definitely weren’t born into a wealthy family like the Kardashians.
Anyway, peep what Twitter had to say about this new definition of self-made in the gallery.
Twitter Mocks Forbes For Calling Kylie Jenner "Self-Made"
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‘Forbes’ Says Kylie Jenner Is “Self-Made”, Twitter Collectively Says GTFOH was originally published on hiphopwired.com