Tuesday, 25 June 2019

Kylie Jenner to be youngest self-made billionaire

LOS ANGELES: Aged just 20 and the youngest member of the extended reality-TV Kardashian clan, Kylie Jenner is on track to become America’s youngest “self-made” billionaire, Forbes revealed Wednesday.

The young mother, who gave birth to daughter Stormi in February, set up Kylie Cosmetics two years ago and the company has already sold more than $630 million worth of makeup, the magazine said.

Forbes conservatively valued her company at $800 million and raised her overall worth to $900 million by throwing in earnings from television programs, endorsements and after-tax dividends.

Jenner owns 100% of the company, which started out with a $29 “lip kit” – matching set of lipstick and lip liner that traded on her trademark pout.

She’s already the youngest person on Forbes’ list of richest self-made US women and another year of growth would make her the youngest self-made billionaire ever, beating Mark Zuckerberg, who crossed the threshold at the age of 23.

“Thank you Forbes for this article and the recognition. I’m so blessed to do what I love everyday,” she tweeted next to a photograph of the cover story.

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