The youngest member of the Kardashian clan, Kylie Jenner is on her way to becoming America’s youngest ‘self-made’ billionaire at just 20 years of age.
According to Forbes, the social media star set up Kylie Cosmetics two years ago and since then has sold more than US$630 million (RM2.53bil) worth of makeup.
Her company is valued at US$800mil (RM3.22bil) which raises her overall worth to US$900 million (RM3.63bil), in addition to earnings from television programmes, endorsements and after-tax dividends.
The company started out with a US$29 (RM117) “lip kit” which includes a matching set of lipstick and lip liner that gave her a trademark pout. The young mother, who gave birth to daughter Stormi in February, owns 100 per cent of the company.
She is already the youngest person on the 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.
Her success has been attributed to her fame and ability to leverage on social media. She has more than 110 million followers on Instagram, 25.6 million on Twitter and 16.4 million follow her company directly.
Forbes said the firm has only seven full-time and five part-time employees, with manufacturing, packaging and sales outsourced, and her mother, Kris handling the business side in exchange for a 10-per cent management cut.
Reality TV show Keeping Up With the Kardashians launched when Kylie was 10 years old. Aged 17, she trademarked the phrase “Kylie Lip Kits… for the perfect pout.”
Forbes said she used US$250,000 (RM1 mil) earned from modelling to pay a company to produce the first 15,000 lip kits that sold out in less than a minute at the Nov 2015 launch.