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Wednesday, 11 July 2018

Worth $900 million, Kylie Jenner makes Forbes cover

Success has no hiding place and age is not necessarily a determining factor. 

This is true of 20 year beauty entrepreneur, Kylie Jenner, as she makes it on the cover of Forbes magazine's August 2018 issue which focuses on the 60 richest, most successful women entrepreneurs in America.

The top 60 self made women, who make their money from fashion, biotech, venture capital etc have a combined networth of $71billion, which is 15℅ higher than in 2017.

Within a space of three years down the line in her cosmetic business, Kylie has been able to build her empire and is currently worth an  estimated $900 million, making her the youngest on the list.

According to Forbes:

What her half-sister Kim Kardashian West did for booty, Jenner has done for full lips. Like Kardashian West, she has leveraged her assets to gain both fame and money. But while her sister is best-known for the former, Jenner has proved adept at the latter. In historic fashion.

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.)

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