Kylie Jenner born August 10, 1997, is on the edge of achieving what Microsoft co-founder Bill Gates aged 31 in 1987 and Facebook co-founder Mark Zuckerberg aged 23 in 2008 achieved in their time, but at a much younger age. She is the youngest and richest member of the Kardashian family who recently made it as the youngest woman in America to occupy the 27 spot on Forbes‘ list of richest self-made women in America.
Her emergence on this list has set the internet abuzz with a lot of questions being asked about what businesses she does, why Forbes will choose to describe and list her as a self-made millionaire despite being born into one of America’s most wealthy family. Here you will read all the juicy details about Kylie Jenner’s wealth and satisfactorily be in the know of how she was able to build almost a $1 billion fortune in just 3 years.
How Did 20 Year Old Kylie Jenner Build Close To $1 Billion Fortune Under 3 Years?
We won’t negate the fact that she was conceived and born into wealth itself, grew up having the best things any kid would want and turned out making the best out of life’s numerous opportunities to her. But again, there are others who had most of the opportunities she had but still went ahead to send themselves into financial oblivion.
Kylie began making appearances in the reality television series Keeping Up with the Kardashians in 2007 with her siblings and parents. The show as you know focuses squarely on the lives of the family members. The series was very successful and had as one of its spin-offs Kourtney and Khloé Take The Hamptons in which Kylie Jenner has made multiple guest appearances. She also starred alongside her mum Kris Jenner and sister Kendal Jenner in an episode of America’s Next Top Model reality television series. Over the years, she has earned millions from television programs and brand endorsements.
For her OPI nail polish endorsement where she has two nail lacquers with Kendall, they earned $100,000 each for their OPI endorsements in 2013. The sisters disclosed to the public the launching of their clothing collection called the Kendall & Kylie Collection which was with PacSun. The clothing line has since its commencement been releasing several collections of the line. They also have a jewelry line with Pascal Mouawad’s Glamhouse in addition to another clothing line called Kendall + Kylie which they launched with British fashion retailer Topshop.
Kylie Jenner’s massive net worth stems mainly from the success of her lipstick business. She launched her brand on November 30, 2015, with the Kylie Lip Kit which had a lipstick and a matching lip pencil with it and was sold for $29 per kit. The product was sold out in minutes after its launch. After a year and 6 months of being in business, the company had recorded a profit of $420 million from sales. In 2016, they launched their holiday collection release which turned out to be an even bigger success with as much as $19 million sales in just one day.
Since 2015 when the company was launched, they have made giant strides in boosting sales and their rate of turnover amounting to $630 million worth of makeup products sold with $330 million coming in 2017 alone. Indeed, enhancing beauty is big business. Kylie Cosmetics has since its burgeoning success added other products like concealer and eyeshadow. The company which is valued to be worth $900 million is owned %100 by Kylie Jenner as the 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 brand of its own; determining its standards and norm, probably with no competition and as such enjoys a sort of monopoly which those who socially or economically identify with the brand are at ease with.
The benefit of this at a time like ours is the huge social media influence the family members have on cyberspace. Kylie Jenner has leveraged on this to have a commanding influence on social media which translates into having a large pool of customers and potential customers who she has an easy and quick access to.
Kylie has over 110 million followers on Instagram alone, her Snapchat account ranked up as the most viewed account in August 2016, while on Twitter about 25.6 million followers cum potential customers will always see her tweets. All these figures are aside from the millions more following her company and/or products in their respective social media accounts.
These followings translate into big money when experts run the analysis of advertising to such a large number of people. It is given that more than 50% of her followers across all her social media platforms are probably young ladies and girls with beauty and fashion taste akin to hers. Most would see her as a role model and will probably take to any product they see her promoting, talk more of her own very Kylie cosmetics products.
When you see Kylie’s social media posts showing pictures of her selfies, she often posts them on an hourly basis with captions of the Kylie Cosmetics product she is wearing, or you see her posting videos of her forthcoming product launches, just know that she is on her way to becoming a billionaire because that is how she advertises her products. How best can one sell other than showing it off for others to see you use what you want to sell to them?
In summary, our research revealed that Kylie Jenner was able to build close to $1 billion fortune under 3 years by simply advertising her cosmetics products to the millions of fans she has on social media.