At 21 years with $900 million, Kylie Jenner set to dethrone Mark Zuckerberg as youngest billionaire
Mark Zuckerberg who became a billionaire at the age of 23, is soon likely to lose his title of the youngest self-made billionaire to the Kardashian-Jenner clan's youngest member, Kylie Jenner, who's just 21 years old. Kylie Jenner, who became a mother earlier this year set up her own cosmetics company two years ago and has already sold $630 million worth of makeup. Forbes estimated the valuation of Kylie Cosmetics at $800 million, and added a few bucks to raise her overall worth to $900 million. The additional bucks came from her TV stints and endorsements. It is estimated that the coming year's business will boost her to billionaire status.
Kylie Jenner who owns 100% of her company started Kylie Cosmetics by rolling out a $29 lip kit. The kit offered matching set of lipstick and lip liner to recreate her signature look.
Forbes has already listed her as the youngest richest self-made US woman. Jenner took to Twitter to thank the magazine and said, "I'm so blessed to do what i love everyday".
Kylie Jenner's cult following comes from her avatar on social media. On Instagram, she has more than 110 million followers, while on Twitter 25.6 million people follow her and 16.4 million follow Kylie Cosmetics directly. Jenner runs the company with only seven full-time employees and five part-time employees. Her mother, Kris Jenner is also the manager and takes away a cut of 10%. Manufacturing, packaging and sales are all outsourced. "And because of that miniscule overhead and marketing costs, the profits are outsize and go directly into Jenner's pocket," Forbes said.
Kylie Jenner is the youngest daughter of Kris Jenner and Caitlyn Jenner, formerly known as Bruce Jenner who was an Olympic gold medallist. Supermodel Kendall Jenner is her sister and Kim, Khloe and Courtney Kardashian are her half-sisters.