News Leak Centre

No Fear No Favour

Kylie Jenner beat Mark Zuckerberg became youngest self made billionaire

Kylie Jenner beat Mark Zuckerberg, becomes youngest self made billionaire

At the age of just 21, Kylie Jenner has officially entered the billionaires’ club thanks to her make-up business, work in reality TV and modelling, and from having grown up in one of America’s richest families.

Forbes’ latest rich list has described Jenner as the youngest ever self-made billionaire, as she is two years younger than when Facebook founder Mark Zuckerberg passed that threshold. Of course, there is some dispute over whether she is truly self-made but the statistics surrounding her make-up brand are truly staggering.

Jenner made her foray into cosmetics in 2015 when she starting selling lip kits, with lipsticks and lip liners. They sold out in less than a minute. Several months later, she launched Kylie Cosmetics on Shopify with 500,000 lip kits in six colors. By the end of 2016, the company had generated $307 million in revenue.

Experts have said the key to her success is her well-executed social-media strategy: She has more than 175 million followers across the platforms she uses to market her products, Forbes said.

The business overhead is low. According to Forbes, Jenner has a team of seven full-time and five part-time employees, while manufacturing and packaging are done by a local company in California, the sales and fulfillment are handled by Shopify, and her mother, Kris Jenner, handles finance and public relations for a 10% management fee.

Kylie Jenner was on the cover of Forbes’ “America’s Women Billionaires” issue in August, when the magazine reported that she was the 27th-richest self-made woman in the United States. Many took issue with Forbes classifying Jenner as a “self-made” near-billionaire, saying that being born into extreme wealth and fame is the opposite of being self-made.

Leave a Reply

Your email address will not be published.