KYLIE JENNER The Youngest Self-Made Billionaire
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The ground-breaking news this morning is that the super celeb Kylie Jenner broke another record and reached another milestone. It is official that she now is the Youngest self-made billionaire. It sure is another history to be told.
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Yes, yes congratz Kylie, we all love you.
On her new status she told Forbes ““I didn’t expect anything. I did not foresee the future. But feels really good. That’s a nice pat on the back.”
On July 2018, when she was featured on Forbes magazine cover, questions were raised that how is she self-made?
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She responded “The self-made thing is true. My parents told me I needed to make my own money, it’s time to learn how to save and spend your own money, stuff like that. What I’m trying to say is I did have a platform, but none of my money is inherited.”
On the other side, Forbes defines “self-made” as somebody who manufactured an organization or built up a fortune all alone, as opposed to acquiring a few or every bit of it. Unless a person didn’t acquire a business or cash from inheritance or other means, she is named self-made.
While we do know she did have the golden spoon by birth, Jenner citied the fact that her parents “cut her off at the age of 15.” Her main source is Kylie Cosmetics which is a sheer success and she cleared that while launching the company when she said “spent every last dime that I had”, “not even knowing if it would be successful.”
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Kylie Cosmetics is another business wonder if you look at it, which she started in 2015. It incurred very low overheads and almost all the profits go straight into her savings. Her domain comprised of only seven full-time and five part-time employees, can you imagine? Manufacturing and assembling are outsourced, deals and satisfaction is taken care of by an online trader, her mother deals with the account and PR, and showcasing is all done online to her gigantic fan following. She says “It’s the power of social media.”
Kylie in 2015 invested $250,000 to manufacture her first 15,000 lip kits, which was sold out in a single minute at launch. Her cosmetic company earned $420 million in sales in its initial 18 months. She owns 100% of the company and made $60 million for herself.
She currently has 128million followers on Instagram and charges 1 million dollars for each sponsored post she makes. Now we know the power of social media. This makes her the highest paid influencer on the social media platform leaving Cristiano Ronaldo and Selena Gomez behind.
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Kylie loves to showoff her money and living the luxury dream. Her 1.4-acre Hidden Hills compound which she bought in 2016 for $12 million is also home to her plenty of luxury vehicles including a vintage Rolls Royce, Aventador, Mercedes Maybach, Ferrarris, Italia Spider, Bentley Bentayga and a lot more. We could sure do another article on her collection of bags and jewelries.
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She stared in the journey with her appearance in the TV show Keeping up with the Kardashians, collaborated with her sister in the clothing brand PacSun, launched and is running Kylie Cosmetics. She was recognized as the most influential teens, one of the most followed celebrity in Instagram, youngest person to be featured on the Forbes Celebrity 100 list and now the youngest self-made billionaire.
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While Mr. Zuckerberg achieved the milestone at 23, Kylie did it in only 21. Whoa, that’s two whole years. The list follows snapchat CEO Evan Spiegel at 25, John Collison and Dustin Moskovitz at 26, Bobby Murphy at 27, Patrick Collison at 29 and so on.
As millions of us are ecstatic with this news, we are eager and even more excited to watch the upcoming levels of success and milestones this wonder woman achieves.
