LOS ANGELES – Kylie Jenner has become the youngest self-made billionaire ever at age 21, according to Forbes, after using her Instagram influence to build a lucrative makeup empire.
Jenner, the half-sister of Kim Kardashian, has used her 128m followers on Instagram as a customer base, as many follow her for fashion and make-up tips.
The entrepreneur owns 100% of Kylie Cosmetics, the three-year-old beauty business that did an estimated US$360 million (NZ$529 million) in sales last year, and most of her sales are done online. Much of it is driven through social media.
She has attributed her rise up the rich list to her vast and dedicated following, telling Forbes: “It’s the power of social media.
“I had such a strong reach before I was able to start anything.”
Her first foray into the cosmetics industry was through selling her lip kits, promising her followers that they could replicate her famous pout. Now, she sells eyeshadows and eyeliners and is broadening her range later this year.
https://www.instagram.com/p/Bucn5M4nmAj/
The star also makes what is rumored to be tens of thousands of pounds through Instagram influencing, being paid by companies to endorse their products.
Recent sponsored posts show the young woman posing with vitamins promising glossy hair, and “detox” tea, which is said to give the user a flat stomach.
According to Forbes, there are fewer billionaires around – 2,153 of them on the 2019 list, down from 2,208 in 2018. This, in part, explains why their average net worth is $4bn, down from $4.1bn. Forbes also found that 994 of them are less well off than a year ago.
Whatever happens next? As Kylie is already running a successful makeup brand we wonder what will she come up next?
One thing is certain. Jenner will share it all on social media, much to the delight of her tens of millions of fans.
https://www.instagram.com/p/Bt7nGKenGkv/
Kylie is after all the ever first selfie-made billionaire.
