Even though it had been circulated that Kylie Jenner, at the age of 21, became the youngest self-made billionaire ever, recent revelations have shown that she is worth $900 million and yet to attain the status of a billionaire.
Born on the 10th of August 1997, Kylie is the youngest daughter of Olympian Bruce Jenner and Kris Jenner. She might be the youngest of the Kardashians-Jenner clan but she has overtaken her older sisters and indeed, all the members of her family in wealth to become the richest. Kylie Kristen Jenner is an American reality television star, model, and cosmetic business mogul. Having made a big name for herself in the entertainment industry, fame is one thing Kylie has gotten very used to.
She was a part of the Sierra Canyon School cheerleading team before dropping out for home-education in order to focus more on her modeling career. Looking at her net worth and the status she has attained as one of the Most Influential Teens on social media, there is no doubt that it was worth it.
Kylie Cosmetics Is The Biggest Source of Her Wealth
Although Kylie’s earnings initially came majorly from her modeling career and reality show, an eponymous cosmetic business proved to be the real money-spinner for the star. The business wasted no time to catch up with huge retail giants as it was once said that her lipsticks are sold at least once every five seconds. Shortly after that, it was reported that Kylie Cosmetics made $420 million in 18 months. It was also estimated that by 2022, the business could make an impressive $1 billion. This was predictable as the establishment that started business in 2015 had already sold an estimated $630 million worth of makeup by 2018.
While everyone was waiting for the year that would see Kylie Jenner become one of the most famous billionaires in the world, it happened sooner than most people expected. It was in March 2019 and at the age of 21 that Forbes reported Kylie Jenner’s emergence as the youngest self-made billionaire. The American business magazine valued Kylie Cosmetics at $900 million at this point, disclosing that its revenue had improved by 9% from the previous year to an estimated $360 million.
Proclaiming that Kylie Jenner owned all of the company valued at $900 million, Forbes referred to the huge revenue the company pulled and concluded that she was a billionaire with an estimated fortune of $1 billion. With that, it was upheld that she was the youngest self-made billionaire the world has ever seen. Several platforms ran the story and it quickly circulated that the youngest member of the Kardashians-Jenner clan isn’t only the richest member of the family but also a billionaire.
If her billionaire status was ever questioned in some quarters, the doubts were put to rest before the year ran out. Sometime in November 2019, it was reported that Coty, an American multinational beauty company, bought a 51% stake in Kylie Cosmetics for a massive $600 million. It was also reported that the company was worth $1.2 billion at this point. Given that, there were no reasons for anyone to doubt that Kylie Jenner had attained a ten-figure fortune.
But She Is Yet To Become a Billionaire
The prestige of been regarded as the youngest self-made billionaire in the world disappeared almost as quickly as it materialized for Kylie Jenner. Barely a year after Forbes proclaimed that Kylie was a billionaire, the media outlet published a lengthy piece that related how Kylie and her family mislead them into overestimating her net worth.
The business magazine was compelled to recalculate the model’s net worth after it followed filings released by Coty which now owns 51 percent of Kylie Cosmetics. With that, it was concluded that the business which is known to have contributed most to Kylie Jenner’s net worth was never as big as the family made the public believe and was also making less profit than what had been reported over the years.
Contending that the Jenners have been lying to the media and the public about the financial status of the company founded in 2014 since 2016, Forbes alleged that the family had their accountants come up with falsified tax returns which led to an overestimation of Kylie Jenner’s net worth and earnings. Even as the magazine couldn’t provide anything that can prove the draft tax returns the Jenners provided were fake, it upheld based on the filings on Coty that Kylie and her family have been lying.
Kylie Jenner Was Never The Sole Owner of Kylie Cosmetics
In addition to the claim that the Jenners have been lying about how big the cosmetics company is, and the revenue it was generating, it was unveiled that Kylie Jenner has never been the sole owner of Kylie Cosmetics. As learned from the agreement document from Coty’s acquisition of Kylie Cosmetics, Kristen Jenner owns a stake in the company. This is so because the agreement named KMJ 2018 Irrevocable Trust as an establishment that owns a profit interest in Kylie Cosmetics and, the trust is controlled by Kylie’s mother, Kristen.
Based on what the acquisition agreement document disclosed, the trust is entitled to get capital and interest in the company. Forbes says the family had claimed that Kylie is the beneficiary of the trust and that it was created to hold the wealth she acquired before she turned 18. But then, the trust is said to have been created after Kylie turned 18. With the Jenners’ unwillingness to prove otherwise, Forbes concluded that Kristen also owns Kylie Cosmetics and that Kylie owns about 44.1 percent of the company rather than the 49% which had been used all along to estimate her earnings and net worth.
Other Sources of The Model’s $900 Million Net Worth
In spite of the controversy surrounding Kylie Jenner and the billionaire status she was widely reported to have attained in 2019, there is no doubt that she is very rich. While Kylie Cosmetics and the $340 million she pocketed after Coty bought ownership of the company is the major source of her wealth, she has made good money from other means.
It is only a matter of time before no one would have any reason to doubt she is a billionaire. In fact, she is only about 100 million dollars shy of pulling off a ten-figure fortune. Even as Forbes declared she isn’t a billionaire in 2020, it estimated that her personal fortune was “under $900 million”. Below are the other sources of her wealth:
Salaries from Her Family Reality Show and Other Series
As the youngest child in the family of television stars, Kylie became a part of the reality television series Keeping Up with the Kardashians. More than being her earliest source of income, it laid the foundation for her to explore other opportunities that proved to be successful and lucrative.
Kylie has been a main cast of the series since 2007 and by 2017, it was estimated that she earns as much as $4.5 million per season of the series. Another series titled Life of Kylie revolved around her and she has been a part of a handful of other television shows.
In addition to the foregoing, paychecks from hosting several high-class events in Hollywood have contributed to her net worth in no small manner. Some of these events include the 2014 Much Music Video Awards, the 2014 Billboard Music Awards, and many more.
Earnings from Her Modeling Career and Endorsement Deals
Her career as a model started with Sears’ clothing line, Crush Your Style. While she earned from this, she was also able to augment her income from what she earned from being featured on the covers of several magazines like the OK! Magazine, Teen Vogue, and many others. Similar to her sister, Kylie has also been modeling bikinis for Australian swimwear designer, White Sands.
Also, she rakes in money from different partnership deals including the one with the clothing company PacSun. It is hardly a surprise that partnering with popular brands and endorsing their products is a big source of income for Kylie: she is one of the most-followed people on Instagram with over 221 million followers as of March 2021. Back in 2013, it was reported that the model and her sister each pocketed $100,000 for endorsing OPI.
By 2018, Kylie Jenner was said to be the highest-paid influencer on Instagram as she was receiving as much as $1 million for each sponsored post. The amount climbed to $1.2 million the following year and has presumably been increasing since then.
Revenue Realized from Her Various Offerings
Kylie Jenner has a jewelry line called Kendall & Kylie Jewelry Collection and launched a shoe and a handbag line with her sister for the Steve Madden‘s Madden Girl Line. She also has several other business opportunities in the shoe industry, including a sneaker deal with Puma which according to her brother-in-law, Kanye West, is worth $1 million.
In October 2014, she partnered with Bellami Hair to launch a line of hair extensions called Kylie Hair Kouture. What followed in 2015 was the Kendall + Kylie clothing line she launched with her sister in partnership with Topshop. 2019 came and she collaborated with Kim Kardashian’s KKW Beauty to launch a fragrance line and that same year, the model founded a skincare brand called Kylie Skin.
In a nutshell, Kylie has a long list of products in the market that have become a stable source of income for her, including the mobile game she launched with her sister in February 2016.
Kylie Jenner Insists She Has Had No Plastic Surgery
Among other things, people have expressed that Kylie Jenner went under the knife to attain her looks because of the fact that she looks significantly different from what she looked like as a teenager. Apart from having lips that are fuller, she now has a pronounced hourglass shape which is often likened to that of her half-sister, Kim Kardashian.
Nonetheless, Kylie has maintained that she has never had plastic surgery. She once explained in an interview that the changes people point out in her face that make them believe she had surgery to reconstruct it are the doings of good hair and makeup. Based on what she said, fillers are responsible for the significant changes people notice.
For her hourglass figure, it has been rumored that she had a Brazilian butt lift, this is a cosmetic procedure that revolves around transferring fat to the backside in order to attain fuller buttocks. It is speculated that she did this with hip implants which accounts for the curvey shape that looks like Kim’s. Kylie has denied this just as she has dismissed the claims that she had a breast augmentation. According to her, her breasts are now bosomy because she gained weight as she became older and uses the Victoria Secret’s Bombshell bra.
How She Regained Her Body After Childbirth
Kylie Jenner and Travis Scott the rapper started dating in April 2017. The relationship saw the birth of their daughter Stormi Webster who was born on the 1st of February 2018. As it is with all the women who have gone through childbirth, the birth of Stormi changed Kylie’s body a great deal, to the point that she is being trolled and body-shamed online.
In a tweet she later deleted, Kylie disclosed that she always craved Eggo waffles while she was pregnant and gained as much as 40 pounds. However, she maintains that pregnancy is a life-changing and empowering experience for her. In July 2018, she related that her breasts bother her as it is three times larger and has stretch marks. Adding that her butt and thighs are now bigger, the model also expressed that her stomach and waist aren’t the same.
About a year later, she revealed that cutting out food has helped her regain her pre-pregnancy body; it happened that she started eating better and avoided consuming whatever she desires, especially dairy products and pizza.