The youngest member of the reality-TV Kardashian clan, Kylie Jenner, is said to become America’s youngest “self-made” billionaire, Forbes revealed on Wednesday.
The young mother, who gave birth to daughter Stormi in February, set up Kylie Cosmetics two years ago and the company has already sold more than $630 million worth of makeup, the magazine said.
Kylie is the youngest daughter of Kris and Caitlyn, formerly Olympic gold medalist Bruce. Her sister is supermodel Kendall. Her half-sisters are Kim, Kourtney, and Khloe Kardashian.
Forbes conservatively valued her company at $800 million and raised her overall worth to $900 million by throwing in earnings from television programs, endorsements and after-tax dividends.
She owns 100 percent of the company, which started out with a $29 “lip kit”, matching set of lipstick and lip liner that traded on her trademark pout.
Forbes said she used $250,000 earned from modelling to pay a company to produce the first 15,000 lip kits, which she spent months teasing on Instagram. They sold out in less than a minute at the November 2015 launch.
Her success has been attributed to her fame and ability to leverage social media, where she has more than 110 million followers on Instagram, 25.6 million on Twitter and 16.4 million follow her company directly.