Kylie Jenner just hit the 10-figure fortune mark!
21 and already a billionaire, the youngest Kardashian family member just made history as the world’s youngest self-made billionaire.
Forbes called it last year, when they featured the lip kit mogul on the cover of Forbes’ “Richest Self-Made Women” issue. She was featured alongside the likes of Oprah Winfrey ($3.1 billion), Sheryl Sandberg ($1.55 billion), Tory Burch ($800 million), Vera Wang ($630 million), Madonna ($590 million), Donna Karan ($470 million), Céline Dion ($430 million), Judy Sheindlin ($400 million), Barbra Streisand ($400 million), Beyoncé ($355 million), Kim Kardashian ($350 million) and Taylor Swift ($320 million).
At the time, Forbes estimated her company to be worth about $900 Million, and that if she kept it up, she could be poised to overtake Facebook’s Mark Zuckerberg, who became the world’s youngest billionaire at 23.
Well, she did – and now here she is. So how did she do it? It looks like it has something to do with strategic partnerships and distribution
Remember when we used to buy Kylie’s Lip Kits online? Hard to believe that was just around three years ago. But even with just online selling, she’s been making over $300 Million worth in sales. Last year, Kylie Cosmetics partnered with Ulta, and distributed her range of cosmetics to their stores all over the country.
The partnership paid of in a big way. It introduced her products to a larger market – to include “people that would never buy my products online.” That and she also visited some of the stores, which gave fans a chance to pose for selfies with the social media maven. According to Forbes, she made $54.5 Million in sales in just six weeks.
As for how Kylie is taking the news, “I didn’t expect anything. I did not foresee the future,” Kylie told Forbes. “But [the recognition] feels really good. That’s a nice pat on the back.”
She also says of her future: “I see [Kylie Cosmetics] going very far,” Kylie says. “I work really hard.”