Kylie Jenner Becomes The Youngest Self-Made Billionaire Ever
“It’s the power of social media,” Jenner says. “I had such a strong reach before I was able to start anything.”
Jenner, whose net worth is $1 billion, expanded the line to include a range of cosmetics such as blush, highlighter, concealers, and eye-shadow palettes. She also launched makeup collaborations with her sisters, whose net worth is $350 million, according to a 2018 ranking by Forbes. KKW Beauty, by Kim Kardashian West is the second-richest person among the Kardashian-Jenner clan. Our girl King Kylie is number 1.
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, according to Forbes estimates.
“She did well online, but there’s only so far that that can take her,” says Shannon Coyne, an equity research analyst at BMO Capital Markets. “She probably realized: ‘If I want to get big, I’ve got to scale, and to do that, I need a partner.’ Ultimately, she wants to grow her brand, and she needs this store presence to do that.”