American reality TV personality, model, socialite and media personality Kylie Jenner has been named the youngest self-made billionaire by Forbes.
According to Forbes, the 21 year old social media queens wealth expanded greatly after Kylie Cosmetics, a company that Kylie Jenner owns 100 per cent signed a distribution deal with Ulta.
Ulta, an American beauty stores chain, started distributing Kylie Cosmetics products in 2018 which were previously only sold online. Forbes said that Kyle Jenner’s net worth multiplied from $360 million to around $900 million today from Kylie Cosmetics alone.
Kylie Jenner and Kylie Cosmetics employees
The funniest thing is that this $1 Billion dollar empire has only seven full-time employees and five part-time employees. The whole magic is in Kylie Jenner’s huge online following. Jenner has a combined total of 175 million followers across Facebook, Instagram, Snapchat and Twitter.
According to her, everything is done by social media. Product announcements, advertising and customer care. The biggest asset she had before opening Kylie Cosmetics in 2015 was her following.
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It’s the power of social media, I had such a strong reach before I was able to start anything
Kylie Jenner
Youngest self-made billionaire ever!
Kylie Jenner did not just become the youngest self-made billionaire at 21, she the youngest ever! Mark Zuckerburg held the record when he hit the $1 billion marker at 23. Jenner has shattered that record at 21!
Kylie’s success story and how she was entirely built online (social media) gives new hopes to young people. It show them how social media can actually be used to create empires.
When asked about how it feels to be a billionaire, the youngest one, Jenner said “I didn’t expect anything. I did not foresee the future, But [the recognition] feels really good. That’s a nice pat on the back.”
