$900,000,000
Kylie Jenner
Net Worth
Born in (City)
California
Born in (Country)
United States of America
Date of Birth
10th December, 1997
Date of Death
-
Mother
Kris Jenner
Father
Caitlyn Jenner
Children
- Stormi Webster
About
Kylie Kristen Jenner, born on August 10, 1997, is an American media personality, socialite, model, and businesswoman. She has starred in the E! reality television series Keeping Up with the Kardashians since 2007 and is the founder and owner of cosmetic company Kylie Cosmetics.
At age 14 in 2012, she collaborated with the clothing brand PacSun, along with her sister Kendall, and created a line of clothing, "Kendall & Kylie". In 2015, Jenner launched her own cosmetics line called Kylie Lip Kits, which was renamed Kylie Cosmetics in the next year. She also did release a mobile app that turned out to be the most excellent one on the iTunes App Store.
Early Life
Time magazine listed the Jenner sisters as one of the most influential teens in the world, citing their considerable influence among youth on social media. With over 150 million followers, she is one of the most followed personalities on Instagram. In 2017, Jenner was placed on the Forbes Celebrity 100 list, making her the youngest person to be featured on the list. Jenner starred on her own spin-off series, Life of Kylie, which premiered on E! on August 6, 2017. In November 2018, New York Post credited her for being the most influential celebrity in the fashion industry.
According to Forbes, in 2019, Jenner’s net worth was estimated at US$1 billion, making her, at age 21, the world’s youngest billionaire as of March 2019, though the notion of Jenner being self-made is a subject of controversy, owing to her privileged background. In May 2020, however, Forbes released a statement accusing Jenner of forging tax documents so she would appear as a billionaire. The publication also accused her of fabricating revenue figures for Kylie Cosmetics. Afterward, she was stripped of her billionaire status and her title.
Road to Success
More than a decade into their fame, the Kardashian-Jenners tend to induce eye rolls and sighs among jaded media consumers. But when it comes to their wealth, even critics of reality TV’s first family are intrigued; the Kardashian-Jenner machine—and the cash it generates—has been the subject of articles, podcasts, even books. But no one cares more about the topic than the family itself, which has spent years fighting Forbes for higher spots on our annual wealth and celebrity earnings lists.
So when the youngest of the clan, Kylie Jenner, sold 51% of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion this January, it was a watershed moment for the family. One of the greatest celebrity cash-outs of all time, the transaction seemed to confirm what Kylie had been saying all along and what Forbes had declared in March 2019: that Kylie Jenner was, indeed, a billionaire—at least before the coronavirus. She is now worth roughly $900 million
Challenges
But in the deal’s fine print, a less flattering truth emerged. Filings released by publicly traded Coty over the past six months lay bare one of the family’s best-kept secrets: Kylie’s business is significantly smaller and less profitable than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe.
Of course, white lies, omissions, and outright fabrications are to be expected from the family that perfected—then monetized—the concept of “famous for being famous.”
“It’s fair to say that everything the Kardashian-Jenner family does is oversized,” says Stephanie Wissink, an equity analyst covering consumer products at Jefferies. “To stay on-brand, it needs to be bigger than it is.”
Based on this new information—plus the impact of Covid-19 on beauty stocks and consumer spending—Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire.
Failures
Any doubts that Kylie wasn’t a billionaire were seemingly erased in November 2019, when $8.6 billion (revenues) Coty announced it was snapping up 51% of Kylie Cosmetics for $600 million, effectively valuing the business at about $1.2 billion. The deal gave the struggling 116-year-old Coty a hip, social media-savvy brand to help turn around its sagging balance sheet. It gave Kylie a major chance at expansion, plus a boatload of cash and apparently clear proof of her billionaire status.
In a call with stock analysts, Coty’s chief financial officer heralded the deal as “a compelling financial equation” that would help “make Coty a modern, growing and profitable beauty player.” The analysts were immediately skeptical. It looked like Coty was paying way too much for a celebrity brand that could prove to be just a fad, one charged. Another asked how Coty could be sure Kylie will remain committed to promoting the business in the years to come.
Achievements
Teen Choice Awards - 2013|Capricho Awards 2016-2017|WWD Beauty Inc. Awards 2016-2017
Quotes
- Love is when the other person’s happiness is more important than your own.
- Nobody knows who I am except family and my close friends.