Kylie Jenner, born on August 10, 1997, is on the verge of achieving what Microsoft co-founder Bill Gates achieved in 1987 at the age of 31 and Facebook co-founder Mark Zuckerberg in 2008 at the age of 23, but at a much younger age. She is the youngest and richest member of the Kardashian family, who recently made it to 27th place on Forbes’ list of America’s richest self-made women.
Her appearance on this list has thrown the Internet into turmoil, and many questions are being asked about what business she is in and why Forbes will describe and list her as a self-made millionaire, even though she was born into one of America’s richest families. Read all the juicy details about Kylie Jenner’s fortune here and learn how she built up a fortune of nearly $1 billion in just 3 years.
How Did 20 Year Old Kylie Jenner Build Close To $1 Billion Fortune Under 3 Years?
We will not deny the fact that she was conceived and born into wealth itself, grew up with the best things that any child would wish for, and turned out to have made the most of the many opportunities life has to offer. But again, there are others who had the most opportunities she had, and who still fell into financial oblivion.
Kylie began appearing with her siblings and parents on the reality television series Keeping Up with the Kardashians in 2007. As you know, the show focuses entirely on the lives of the family members. The series was very successful and one of its spin-offs was Kourtney and Khloé Take The Hamptons, in which Kylie Jenner made several guest appearances. She also starred in an episode of the reality television series America’s Next Top Model, along with her mother Kris Jenner, and sister Kendal Jenner. Over the years, she has earned millions with television programs and brand recommendations.
For their OPI nail polish endorsement, where they have two nail polishes with Kendall, they each received $100,000 for their OPI endorsement in 2013. The sisters announced to the public the launch of their clothing collection called the Kendall & Kylie Collection, which was at PacSun. The apparel line has launched several collections from line since its inception. They also have a jewelry line with Pascal Mouawad’s Glamhouse and another clothing line called Kendall + Kylie, which they launched with British fashion retailer Topshop.
Kylie Jenner’s enormous net assets are mainly due to the success of her lipstick business. She launched her brand on November 30, 2015, with the Kylie Lip Kit, which included lipstick and matching lipstick, and sold for $29 per kit. The product sold out within minutes of its launch. After one year and 6 months in business, the company had made a $420 million profit from sales. In 2016, they launched their holiday collection, which proved to be an even greater success with sales of up to $19 million in just one day.
Since 2015, when the company was founded, it has made tremendous strides in increasing sales and revenue of $630 million worth of makeup products, with $330 million in 2017 alone. Indeed, increasing beauty is a big business. Kylie Cosmetics has added other products such as concealer and eye shadow since its flourishing success. The $900 million company is wholly owned by Kylie Jenner as CEO (Chief Executive Officer), while her mother, Kris Jenner, is the company’s CFO (Chief Financial Officer).
Social Media Presence
You will probably agree that the Kardashian Jenner clan is a separate brand that sets its standards and norms, probably without competition, and as such enjoys a kind of monopoly that makes those who identify socially or economically with the brand feel comfortable with it.
The advantage in a time like ours is the enormous influence of social media that family members have on cyberspace. Kylie Jenner has used this to exert a dominating influence on social media, resulting in a large pool of customers and potential customers to which she has easy and quick access.
Kylie Jenner has more than 110 million followers on Instagram alone, her Snapchat account was voted most viewed account in August 2016, while on Twitter about 25.6 million followers and potential customers will always see her tweets. All these numbers are in addition to the millions who follow their company and/or products in their respective social media accounts.
This following brings in a lot of money when experts do the analysis of advertising in front of such a large number of people. It is estimated that more than 50% of their followers on all their social media platforms are probably young ladies and girls whose taste in beauty and fashion is related to their own. Most would see her as a role model and would probably accept any product they thought they were promoting and talk more about their own Kylie cosmetic products.
If you see Kylie’s social media posts that show pictures of herself, she often posts them hourly with captions of the Kylie cosmetic product she wears, or you see her posting videos of her upcoming product launches, just know that she’s on her way to becoming a billionaire because that’s how she promotes her products. What’s the best way to sell if you don’t show it to others to see how to use what you are trying to sell them?
In summary, our research has shown that Kylie Jenner has been able to build a fortune of nearly $1 billion in 3 years by simply promoting her beauty products to the millions of fans she has in social media.