At just 20-years-old, Kylie Jenner is the richest of the Kardashian-Jenner sisters.
The lip kit mogul graces the cover of the August issue of Forbes Magazine as she’s on pace to outrun Facebook’s Mark Zuckerberg and become the youngest self-made billionaire all thanks to her wildly popular Kylie Cosmetics line. Jenner appears on the cover, looking more business-like than ever in a black blazer. The mother of one shied away from her normal full face of makeup and opted for a more subtle, business-like look with minimal makeup and her hair pulled back in a low bun.
According to Forbes, Jenner has come a long way since she launched her Kylie Cosmetics line two years ago. Thus far, Kylie has already amassed a net worth of $900 million, most of which comes from her lip kit sales. In 2017 alone, the cosmetics line did $330 million in sales and in its lifetime, the cosmetics company has done over $630 million in sales. Forbes values the business at $800 million and Jenner is on pace to break the billion-dollar mark any day now. And guess what? She owns 100 percent of the business herself.
Kylie has also earned income from endorsements and partnerships with brands like PacSun and Puma as well as some dough from her hit family show Keeping Up with the Kardashians. On the conservative side, Forbes estimates that Jenner has a net worth of at least $900 million and she’s not even of legal drinking age yet!
And Jenner is shattering the glass ceiling for women. Not only is she on track to become the youngest female billionaire, she’s on track to become the youngest billionaire, male or female. Facebook’s Mark Zuckerberg didn’t pass the billion dollar mark until he was 23-years-old. And Snapchat’s CEO, Evan Spiegel, hit a billion in his early 20s. But in the age of social media, it’s no secret that Jenner can attribute most of her sales to the popular platform.
“Social media is an amazing platform. I have such easy access to my fans and my customers,” she says.
And since advertising her product in front of her 110 million-plus followers is pretty much free advertising, Kylie pockets most of the money she earns from sales. Of course, momager Kris Jenner gets a 10 percent cut, but Jenner has few employees with seven full-timers and five part-timers. She outsources her packaging to Seed Beauty and uses Shopify as a sales platform. So essentially, Jenner does little work for a huge paycheck.
Earlier today, Jenner proudly posted the Forbes cover on her own Instagram page, calling it a dream come true.
“wow. i can’t believe I’m posting my very own @forbes cover. thank you for this article and the recognition. I’m so blessed to do what i love everyday. i couldn’t have dreamt this up! #KylieCosmetics”
Clearly, the power of social media is incredible and Kylie Jenner knows that first hand.