Kylie Jenner set to break remarkable billionaire record
No matter what you or I may think of her - it's an undisputed fact that Kylie Jenner has already won 2018 - and it's not even August yet. Back in February she gave birth to her first child with Travis Scott following a year of non-stop tabloid speculation, and then she was crowned queen of the Kardashians after it was revealed that she is the richest of her seven siblings, thanks to her makeup line, Kylie Cosmetics.
Now, Forbes has announced that the 20-year-old is about to be the youngest self-made billionaire in history, as her net worth currently stands at an eye-watering $900 million.
Forbes reports that Kylie Cosmetics, which was launched just three years ago, has already amassed $630 million in sales, and because the reality television star is the sole proprietor of the company, this has worked out very favourably for her indeed.
The publication predicts that Kylie's net worth will top $1 billion within the next year, making her the youngest self-made billionaire - male or female - ever.
As the Keeping Up With the Kardashians star turns 21 on the 10th of August, she will likely hit the milestone at the age of 21. And she's in good company, the co-founder of Facebook, Mark Zuckerberg, previously held this record after becoming a billionaire at 23.
Forbes also details how Kylie has been able to own her company completely: she outsources her production to a manufacturer based in Oxnard, California, and sells it through the online platform, Shopify. This means that Kylie Cosmetics only has seven full-time and five part-time employees.
The key to the company's rapid growth, however, lies in her expert leveraging of her social media platforms. "Social media is an amazing platform," Kylie asserted when speaking to Forbes. "I have such easy access to my fans and my customers."
The 20-year-old takes to Instagram and Snapchat almost hourly to detail what Kylie Cosmetics shades she's wearing on her lips and eyes, and to take videos of forthcoming product launches. And given that she boasts over 110 million followers on Instagram alone, it's a savvy move. But this is, of course, in addition to the 16.4 million people who follow Kylie Cosmetics directly, and the 25.6 million followers she has on Twitter.
"$900 million under HER name. Can we let go of the Kylie Jenner AINT got no talent narrative? Clearly, making money moves is it," one Twitter user wrote in response to Forbes, while another corroborated "Kylie Jenner literally cracked the code and illustrated the blue print. She’s 20 years old and worth $900M!!!!!! She owns 100% of Kylie Cosmetics!"
A third added, "Kylie jenner’s network is fckin GOALS sis is under 21 & on her way to being a billionaire #BigGoals."
Kylie's fortune now surpasses that of Kim Kardashian - the veritable leader of the Kardashian Klan - who in comparison is worth a measly $350 million.
Well, there's some belated #MondayMotivation for you.