Kylie Jenner just became the world’s youngest self-made billionaire

Financial Post
Kylie Jenner James Alexander Michie

Kylie Jenner is founder of Kylie Cosmetics.Valerie Macon/AFP/Getty Images

Kylie Kristen Jenner or better known as Kylie Jenner, is an American entrepreneur, designer, and model. It reached certain notoriety in the tabloids and on vanity TV shows as a result of its appearance on the Kardashian family’s self-promotional reality show, Keeping Up with the Kardashians.

Jenner, with a net worth of US $ 1,000 million, became in 2019 the youngest billionaire in history at 21 years of age, surpassing the record established by Mark Zuckerberg, founder of Facebook, who became a billionaire at 23 years of age.

Multimillionaire self-taught

As already mentioned, Jenner, who is the founder of Kylie Cosmetics, has now become the youngest self-taught multimillionaire in the world after her company signed an exclusive partnership with Ulta Beauty Inc.

Do not forget that Jenner is only 21 years old. Even so, it has a value of US $ 1,020 million, according to the Bloomberg Billionaires Index. That being the case, it is presumed that Jenner owns 90 percent of his company and attributes the rest to his mother Kris, who charges a management fee in exchange for managing public relations and finances. On the other hand, Forbes, based on a different methodology, reported last Tuesday that Jenner had reached the milestone.

Likewise, Bloomberg values Jenner’s firm by comparing it with four publicly traded pairs: L’Oreal SA, Inter Parfums Inc., Estee Lauder Cos. And Elf Beauty Inc. Kylie Cosmetics subcontracts its manufacturing and packaging to Seed Beauty and sales and compliance to Shopify. The details of those agreements are not public and could alter the valuation.

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Source: Bloomberg News, Sophie Alexander and Tom Maloney | Financial Post

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