Kylie Jenner is now the youngest billionaire

03.9.2019     /     News author: Dima

Kylie Jenner is now the youngest billionaire
© Instagram / Kylie Jenner
In mid-November, Kylie Jenner marked an important moment by visiting a shopping center. Over the past three years, Kylie Cosmetics has sold her makeup only online and briefly in ephemeral stores. After signing an exclusive distribution deal with Ulta, beauty retailer Kylie Cosmetics launched its $ 29 lip kits - a matte liquid lipstick and matching lip liner - in more than 1,000 stores of Ulta.

According to Oppenheimer estimates, Kylie Cosmetics sold $ 54.5 million worth of products to Ulta over the next six weeks. "I went to a few stores, I used my usual social media. I did what I usually do, and it worked, "she says.

Fueled in part by the extension of Ulta, Kylie Cosmetics' revenue grew by 9% last year to $ 360 million. With this type of growth, and even using a conservative multiple in the growing makeup industry, Forbes estimates that Jenner's company is worth at least $ 900 million. She has all this. Add to that the money that Jenner has already drawn from the profitable business, and the 21-year-old is now a billionaire, with a fortune estimated at a billion dollars. She is the youngest billionaire in her history, reaching a ten-figure fortune at a younger age than even Mark Zuckerberg (who was 23 when he hit that mark).

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