What is Kylie Jenner's greatest achievement
Rich by reach: Kylie Jenner is the youngest self-made billionaire in the world
That night, Kylie Jenner posted a photo on her Instagram account showing her against a lilac background. She wears a two-piece made of snakeskin, including a simple skin-colored sweater with a turtleneck and striking pink nails. Kylie Jenner commented on this photo, which after eleven hours already liked 4.25 million people, simply with three words: "thank you @forbes". If you click on the "Next" button to see the photo, what is hidden behind this first picture, it quickly becomes clear: It is no coincidence that the 21-year-old Kylie Jenner is a fashionable and at the same time serious business woman presents. Because at second glance, it announces its greatest business success to date. It reads: "Kylie Jenner is the youngest self-made billionaire in the world to have reached a ten-figure fortune and is younger than Mark Zuckerberg". The Facebook founder was 23 years old when he broke the billion mark for the first time.
Forbes names Kylie Jenner the youngest self-made billionaire
Kylie Jenner became known years ago for the TV show "Keeping Up with the Kardashians", but she has long since become more than a reality star. The 21-year-old quickly understood how to take advantage of the attention she received from the TV show on social media. In around ten years she has not only gained 128 million Instagram followers, she is also the founder and owner of a successful cosmetics company, Kylie Cosmetics. Thanks to this, the youngest member of the Kardashian clan has moved out of the shadow of Kim, Kourtney, Kendall and Khloé and fought for a place among the super-rich. To this day, the key to this business success is her total of around 175 million followers in social networks. "I had such a strong reach before I could do anything with it," Kylie Jenner told Forbes magazine. Now she can.
Sales deal with cosmetics retailer Ultra
However, one cannot speak of a real empire at Kylie Cosmetics. Only seven full-time and five part-time employees take care of the company, which was founded in 2015 and which became a billion-dollar business in just a few years. With her business model of outsourced production, packaging and logistics as well as a marketing strategy that works primarily through social media, the 21-year-old keeps her costs low - and thus increases profits for herself as the owner. Kris Jenner, Kylie's mother, takes care of finances and PR. She keeps ten percent of the profits for herself - as with all her famous children, as it is called in "Forbes" magazine. However, Kylie Jenner and her company secured their mega success with a deal with the cosmetics retail chain Ultra. With this contract, Kylie Jenner has increased her sales many times over in just a few months since November 2018. Ultra, in turn, benefits from Kylie Jenner's reach and relatively young customer base.
Kylie Jenner is the only woman among the self-made billionairesen
Critics note that due to the fame and fortune of her family, Kylie Jenner cannot really be described as a self-made billionaire who has made her fortune like an inheritance without a given circumstance. But that criticism shouldn't hide Kylie Jenner's success. Because another side of the coin is: Of the 41 self-made rich people on the "Forbes" list who are younger than 40 years old, all are men - except for her. The other 14 female billionaires on the list of the richest people have inherited their fortunes. Just in time for International Women's Day, Kylie Jenner's success is a reminder that much still needs to change in terms of gender inequality in the world of work and the gender pay gap.
Kylie Jenner is not without competition: Cosmetics companies Kylie Cosmetics and Fenty Beauty by Rihanna are head-to-head. More on this.
The 5 Best Male Beauty Vloggers: Male beauty gurus have now firmly established themselves in the scene, we are introducing them. Go to Article.
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