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Kylie Jenner, 21, is Officially the Youngest Billionaire Ever According To Forbes

In today’s world, the makeup industry is growing and progressing everyday as we go. From makeup videos on YouTube to beauty influencers creating makeup lines, Kylie Jenner is definitely at the top of the cosmetics game.

Kylie Jenner, 21 years old, the youngest of the Kardashian/Jenner family, is officially the youngest billionaire in the world; as well as being the wealthiest out of all of her family members, according to Forbes.com. This meaning she has surpassed Facebook CEO, Mark Zuckerberg, who was the youngest billionaire before Jenner.

From ‘Kylie Lip Kits’ to ‘Kylie Lip Challenge,’ and now even the youngest billionaire in the world, the cosmetics mogul has grown so much from back then.

The brand was first named Kylie Lip Kits, which launched on November 30th, 2015. Jenner then renamed the brand Kylie Cosmetics, after Jenner sold out all of her lip kits in a matter of seconds.

“I went to the store and I bought every single lip liner that looked like the color of my lips, so people didn’t think I was wearing lip liner. And I would just like over-line my lips as much as I could, but I could never find a lip liner and a lipstick that were the perfect match, so, that’s how Kylie Lip Kits started.” – Jenner said on her E! Entertainment show, Life of Kylie.

(Credit: YouTube)

Jenner has stated many times that she was embarrassed and very insecure about her lips at a very young age. On an episode of Life of Kylie, Jenner revealed that a crush of hers told her she had small lips. “When a guy you like says that, I don’t know, it just really affected me. I just didn’t feel desirable or pretty.”

“It was like one of my first kisses and a guy was like, ‘I didn’t think you’d be a good kisser because you have such small lips,'” she told her therapist on the show.

“Finally I was like this lip liner isn’t doing it. I ended up getting my lips done,” she said.“- www.thisisinsider.com

(Credit: YouTube)

Kylie would only sell her cosmetics on her Kylie Cosmetics website and briefly in pop-up shops. Towards the end of 2018, Jenner had signed an exclusive distribution deal with beauty retailer, Ulta.

According to the estimates of Oppenheimer, in the next six weeks, Kylie Cosmetics had sold over $54.5 million worth of products in Ulta. “It sold out faster than we planned,” admits Tara Simon, Ulta’s senior vice president of merchandising.

“I didn’t expect anything. I did not foresee the future,” says Jenner, who is the youngest billionaire in the world. “But [the recognition] feels really good. That’s a nice pat on the back.” – Kylie Jenner.

Her empire consists of just seven full-time and five part-time employees. Manufacturing and packaging is outsourced to Seed Beauty, a private-label producer in nearby Oxnard, California. Sales and fulfillment are handled by online merchant Shopify. Her shrewd mother, Kris, takes care of finance and PR in exchange for the 10% management fee she siphons from all of her kids. Marketing is done mostly through social media, where Jenner has a massive following. She announces product launches, previews new items and announces the Kylie Cosmetics shades she’s wearing directly to the 175 million-plus who follow her across Snapchat, Instagram, Facebook and Twitter. – Forbes

“This is amazing for Kylie. It truly is inspiring, especially a woman being the youngest. I aspire to be the Kylie Jenner of my family.” Arianna, LHS

 

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