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At 21, Kylie Jenner Becomes The Youngest Self-made Billionaire Ever

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At 21, Kylie Jenner Becomes The Youngest Self-made Billionaire Ever


“I didn’t expect anything. I did not foresee the future,” says Jenner, who is the youngest billionaire in the world. “But [the recognition] feels really good. That’s a nice pat on the back.

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The beauty of Kylie Cosmetics, which Jenner started in 2015, is its minuscule overhead—and the outsize profits that go straight into Jenner’s pocket. Her empire consists of just seven full-time and five part-time employees. Manufacturing and packaging is outsourced to Seed Beauty, a private-label producer in nearby Oxnard, California. Sales and fulfillment are handled by online merchant Shopify. Her shrewd mother, Kris, takes care of finance and PR in exchange for the 10% management fee she siphons from all of her kids. Marketing is done mostly through social media, where Jenner has a massive following. She announces product launches, previews new items and announces the Kylie Cosmetics shades she’s wearing directly to the 175 million-plus who follow her across Snapchat, Instagram, Facebook and Twitter.

“It’s the power of social media,” Jenner says. “I had such a strong reach before I was able to start anything.”

Fueled in part by the Ulta expansion, Kylie Cosmetics’ revenue climbed 9% last year to an estimated $360 million. With that kind of growth, and even using a conservative multiple from the booming makeup industry, Forbes estimates Jenner’s company is worth at least $900 million. She owns all of it. Add in the cash Jenner has already pulled from the profitable business, and the 21-year-old is now a billionaire, with an estimated fortune of $1 billion. She’s the youngest-ever self-made billionaire, reaching a ten-figure fortune at a younger age than even Mark Zuckerberg of Facebook (who was 23 when he hit that mark).

Source: https://www.forbes.com/sites/natalierobehmed/2019/03/05/kylie-jenner-21-is-now-the–youngest-self-made-billionaire-ever/#3051ae335adb





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