VIDEO: KYLIE JENNER ON THE COVER OF FORBES AS A BILLIONAIREDate: 2018-07-13
Remember when you were little and you thought to yourself "by the time I'm 25 I will be married, have a kid and be basically rich"? And now you're just sitting there, trying to survive and not rely on McDonald's for three meals a day.
Well, same! But apparently, Kylie Jenner is setting the standard because at the age 21 she has been labelled by Forbes as the youngest self-made billionaire in history and landing her on their magazine cover. Yes, take that in...
Jenner is said to be featured in the August issue of Forbes magazine as one of America's women billionaires with her empire being priced at $900 million "conservatively", putting her well on track to becoming a billionaire in the next year.
Many social media users called out Forbes on Twitter for claiming that Kylie is "self-made", saying that the Kardashian empire has played a large role in her success, paving the way for her business. Even Dictionary.com had something to say and, on Wednesday, tweeted the definition: 'Self-made means having succeeded in life unaided. Used in a sentence: Forbes says that Kylie Jenner is a self-made woman,' it added, posting a link to the Forbes article.
Yet still, Jenner is on her way to taking over the likes of Mark Zuckerberg and Snapchat's creator, Evan Spiegel in net worth.
Jenner revealed that she relies heavily on social media in order to promote her business, gathering over 110 million followers on Instagram and many more on Snapchat and Twitter. “Social media is an amazing platform,” Jenner told Forbes, “I have such easy access to my fans and my customers.”
Her signature product has always been her lip kits after she famously claimed that her plump pout came from a lip-liner technique, although she later admitted to having lip fillers which she has recently ditched. She said she'd lost sight of her passion for makeup but managed to refocus, which paved her way to success.
“Ever since I was in sixth grade, I would wear purple eyeshadow,” Jenner said. “I turned to makeup to help me feel more confident.”
Kylie started her brand back in 2014 when she used $250,000 of her own money saved from modelling and endorsement deals to launch the first set of her lip kits which sold out in less than a minute! The company collected $420 million in retail sales in just over 19 months.
Kylie claims to only employ seven full-time and five part-time employees at her company, outsourcing production and sales.
Kris handles her daughter's finances and public relations for a 10% fee as she does with all of theKardashian andJenner kids. Last year, that meant Kylie paid her mom $17 million! And let's not forget her baby girl, Stormi, who will likely inherit some of her mother's empire one day. Now, that's one hellava a silver spoon!