Kylie zener sits at a dark-wood dining table at she mother"s house in Calabasas, California, flicking with display choices for a forthcoming pop-up shop. The youngest member of the Kardashian-Jenner industrial complex needs to decide just how to showcase products by her Kylie Cosmetics assembly company. She taps her black iPhone X v a silver glittery nail and also turns the screen about to display a coterie of employee a vending machine.

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"You guys, imagine this, yet all in lip kits," says Jenner, pull on in a black blazer and matching black patent Louboutins with bright red soles. "I think it needs to be a clear vending an equipment where you view all the colors."

What her half-sister Kim Kardashian West did because that booty, Jenner has done for full lips. Like Kardashian West, she has actually leveraged she assets to obtain both fame and also money. However while she sister is best-known for the former, Jenner has actually proved adept in ~ the latter. In historical fashion.

jenner on the respectable 31, 2018 concern of

Just 20 as soon as this story posting (she"ll turn 21 in August) and very young mother (she had baby daughter Stormi in February), jenner runs among the hottest makeup companies ever. Kylie Cosmetics introduced two years ago with a $29 "lip kit" consist of of a matching set of lipstick and also lip liner, and has sold an ext than $630 million precious of makeup since, including an estimated $330 million in 2017. Even using a conservative multiple, and also applying our conventional 20% discount, values her company, which has actually since added other cosmetics prefer eye shadow and also concealer, at almost $800 million. Jenner owns 100% the it.

Add to the the millions she"s earned native TV programs and endorsing products like Puma shoes and PacSun clothing, and $60 million in approximated after-tax dividends she"s bring away from her company, and she"s conservatively precious $900 million, which in addition to her period makes her the youngest person on the fourth annual ranking of America"s richest Self-Made Women. (We estimate that 37-year-old Kardashian West, because that comparison, is precious $350 million.) yet she"s not just making background as a woman. One more year of development will make her the youngest self-made billionaire ever, male or female, trumping mark Zuckerberg, who came to be a billionaire at period 23. (Snapchat"s Evan Spiegel additionally became a billionaire in his at an early stage 20s, though it"s much less clear once he passed that threshold.)

Ultimately your fortunes every derive from the very same place. "Social media is an amazing platform," zener says. "I have such easy access to mine fans and my customers."

That and a big dose of tastemaking space pretty much her whole business, an invention of the Instagram age. Hewlett and also Packard immortalized the garage–Jenner has actually her (or she mom"s) kitchen table. Her near-billion-dollar empire consists of simply seven full-time and five part-time employees. Manufacturing and also packaging? Outsourced come Seed Beauty, a private-label producer in adjacent Oxnard, California. Sales and also fulfillment? Outsourced come the virtual outlet Shopify. Finance and PR? her shrewd mother, Kris, handle the actual service stuff, in exchange because that the 10% management cut she take away from every her children. Together ultralight startups go, Jenner"s operation is essentially air. And because of those minuscule overhead and marketing costs, the revenues are outsize and also go right right into Jenner"s pocket.

Basically, all jenner does to make all that money is leverage her social media following. Practically hourly, she takes to Instagram and also Snapchat, pouting for selfies through captions about which Kylie Cosmetics shades she"s wearing, bring away videos that forthcoming products and announces new launches. It sound inane till you realize the she has over 110 million followers on Instagram and also millions an ext on Snapchat, and also many of them are young women and girls–an audience at as soon as massive and also targeted, at least if you"re selling lip products. And also that"s before the 16.4 million who follow her firm directly, or the 25.6 million who follow her on Twitter, or the occasional society media assists from her siblings and friends.

It"s no that much various from the early days the Donald Trump"s presidential campaign, as soon as his strategy basically contained calling in to tv shows, tweeting provocatively and holding an sometimes rally. Products of truth television, both Trump and also Jenner construed how fame have the right to be leveraged–that they room as much brands together people and that fame is just another word for complimentary marketing. When this has constantly been somewhat true–it"s the an extremely nature that a celebrity endorsement–social media has weaponized fame to the suggest that a genuine estate mogul deserve to be president and a 20-year-old native a household "famous for being famous" can method billionaire standing by monetizing the to the extreme.


iven its perpetually young customer base, the $532 exchange rate beauty industry has always been inordinately driven by influencers and duty models. Similar to fast fashion in clothing, Generation Z consumers have actually been eschewing lethargic makeup brands prefer L"Oréal, Estée Lauder and also Coty in donate of quick-to-market commodities that castle learn about via social media.

A previous aesthetician for women favor Cindy Crawford and Naomi Campbell, Anastasia Soare started selling eyebrow pigments and pencils through her Anastasia Beverly Hills in 2000. The heat exploded as soon as it reportedly joined Instagram in 2013 and began sending out influencers free makeup to publicize the brand. Now with 17 million followers and products sold in 3,000-plus stores, Soare, 60, debuts top top the self-made women"s list through an approximated $1 billion.

Kylie zener at her mother Kris" residence in Calabasas, Calif.

Jamel Toppin

Instagram also helped Huda Kattan, 34, make our list for the first time this year, with an estimated net precious of $550 million. A assembly artist rotate digital influencer, with 26 million Instagram followers, she started Huda beauty in 2013 after three years the blogging around cosmetics. In December the firm sold a minority stake to exclusive equity certain TSG customer Partners; its recent $1 billion valuation converts into five times everyone sales.

Jenner"s massive and massively faithful following, however, puts she in a class of she own. The youngest daughter that Kris and Caitlyn jenner (formerly Olympic yellow medal decathlete Bruce Jenner), sibling that supermodel kendall Jenner and half-sister the Kim, Kourtney, Khloe and Rob Kardashian, Kylie Jenner grew up under a microscope. The family"s Keeping Up v the Kardashians first aired once she was simply 10 years old, beaming her onto television screens in an ext than 160 countries. Command by their mother, Kris, each scion had actually a moneymaking scheme, from mobile gaming (Kim) come modeling (Kendall) and even socks (Rob), however the teenage jenner felt adrift.

"I struggled because that a minute through finding miscellaneous to perform on my own," zener says. Through her mother"s guidance, she started making seven numbers as a model, notching endorsement deals with British retailer Topshop and Sinful Colors nail polish, amongst others.

Unsurprisingly because that a kid who grew up top top camera, jenner has constantly been precocious–especially in her appearance. "Ever due to the fact that I was in 6th grade, I would certainly wear violet eye shadow," jenner says. "I turned to makeup to help me feel an ext confident." She learned around makeup by the town hall YouTube videos and also scrutinizing the experts painting her face for TV appearances and also photo shoots. Jenner, who claims she to be insecure around her lips, occurred the habit of using liner beyond her lips" organic perimeter to create the illusion of larger lips. In respectable 2014, at age 17, she presciently brand the phrase "Kylie Lip kits ... Because that the perfect pout," two years prior to going out on she own.

As with sister Kim"s sex-tape fame, Kylie Cosmetics obtained started through capitalizing on a scandal. By 2014, Jenner"s appearance became tabloid fodder as the dimension of she lips ballooned. On social media, adolescents popularized the "Kylie jenner Lip Challenge," a famous fad in which they inserted their lips right into a shoot glass and then sucked out the air. In might 2015, she admitted to having actually temporary lip fillers–and v Kris zener dusting off her Kim Kardashian playbook, she almost immediately cashed in on it. "I said, "I"m prepared to placed up my own money. I don"t want to carry out it through anyone else," " jenner recalls. She provided some $250,000 that her revenue from modeling gigs to pay an outside company to develop the first 15,000 lip kits. One intuitive marketer like many of she family, she spent months teasing the kit on Instagram, climate announced the start via social media simply a day before they go on sale–November 30, 2015. The kits marketed out in less than a minute. Resellers started offering the $29 product top top eBay for up to $1,000. "Before I even refreshed the page, whatever was marketed out," jenner says.

This is where mom comes in again. As with all the Kardashian-Jenners" ventures, Kris Jenner has tendency to journey the huge moves. Sensing that this can be an recurring business, not just a one-time stunt, she brought in e-commerce communication Shopify, operation by billionaire Canadian business man Tobi Lutke, that December.

Kylie Lip kit relaunched as Kylie Cosmetics on Shopify in February 2016, this time stocked through 500,000 lip kits in 6 shades. "You could watch the buildup take place on the save as approached," states Loren Padelford, that runs the high-volume Shopify Plus. "To watch the internet emphasis down ~ above one website to be crazy."

The number kept gaining bigger. In November 2016 her holiday repertoire snagged virtually $19 million worth of assignment in the 24 hours after the launched. By the finish of 2016 Jenner"s agency was marketing 50-odd products, through revenue the $307 million–for a firm less than a year old.

"No other influencer has ever gotten to the volume or had actually the rabid fans and also consistency the Kylie has had for the critical two and a fifty percent years," adds Padelford, who Shopify Plus additionally powers the digital stores that Drake, Justin Bieber–and Kardashian West.

Jenner began experimenting v brick-and-mortar retail, with a limited Topshop run and pop-ups in new York, Los Angeles and also San Francisco that experienced lines stretch because that blocks (her very first pop-up, in December 2016 at the Westfield Topanga mall near Los Angeles, attracted 25,000 customers in 14 days). But at the finish of the day, why bother? To use Shopify"s platform, zener pays an approximated $480,000 annually, add to 0.15% of sales–pennies contrasted with the expense of doing the volume at physical retail.

Kylie jenner (center) at the Kanye West Yeezy Season 4 fashion show in new York City.

2016 Getty photos

The production works similarly. Kris Jenner found siblings John and Laura Nelson, inheritors of Spatz Laboratories, which has actually long produced private-label cosmetics out of that is 80,000-square-foot basic in Oxnard and also an station in Nanjing, China. That"s where all of Kylie"s products are now formulated and also made. Its parental company, seeds Beauty, also handles every little thing else, from packaging come shipping fulfillment. Altogether they employ more than 500 civilization just to work on Kylie Cosmetics.

But it"s more than scale. Zener wisely defers come the Nelsons" know-how rather than develop and test brand-new formulas, a process that have the right to take increase to 6 months. That permits Jenner to introduce brand-new products for her trend-driven pan base within weeks the conjuring them. (The partnership to be so effective that L"Oréal sue Spatz Labs in may 2016, alleging it had actually breached its long-term contract in order to manufacture Jenner"s products. Spatz Laboratories refuse the claims; the suppliers are working to with a settlement as that publication.)

It"s a substantial win for Spatz, i beg your pardon estimates got paid $180 million in 2017 because that products and also services, or about 55% of full sales. (Kylie Cosmetics disputes the figure but refuses come disclose exactly how much the paid.) yet the deal likewise ultimately permits Jenner to be a mogul while sitting at home, posting pictures and also pondering new looks.


ack at Kylie Cosmetics human being headquarters for the day–looking the end at her mom"s swimming swimming pool while sipping an iced tea–Jenner prepares come hop right into her black Bentley Bentayga to choose up she 5-month-old daughter. "Maybe one day happen this on come Stormi, if she"s into it," claims Jenner, who envisions functioning on Kylie Cosmetics "forever."

Such a worldview is an ext in line through a naïve 20-year-old than a near-billionaire mogul (Jenner, the course, is both). It seems far-fetched come think the brand, who customers are mainly women eras 18 to 34, will last the long, much much less independently. Especially with a business tied to the fickle world of an individual fame. Stars loss out that public donate or lose interest. And others watch the gravy train and jump in. Capitalizing on her front-row view, Kardashian West established her very own line, KKW Beauty, in June 2017 and also has already nabbed an approximated $100 million in revenue. Rihanna complied with in September through Fenty Beauty, which focuses on color-inclusive shades, in partnership v LVMH division Kendo.

"All of castle could adjust their minds," Shannon Coyne, one equity research analyst in ~ BMO funding Markets, claims of the influx of celebrity assembly entrepreneurs. "Kylie seems to desire to produce this beauty empire, but anything can happen, and also she"s therefore young."

Kylie Cosmetics" expansion is already starting to taper off: after ~ leaping come $307 million in 2016, revenue flourished just 7% in 2017, in spite of the addition of 30 brand-new products. approximates lip-kit revenue dipped 35% from about $153 million in 2016 to $99 million in 2017. Still, Kris Jenner claims revenue is up "considerably" in the an initial six month of 2018 contrasted with the same duration last year–a claim that couldn"t verify.

While jenner dismisses the idea of selling out, she calculating mother–who got paid an estimated $17 million by she daughter in the past year–can perform the math. "It"s constantly something that we"re ready to explore," she says.

all the Jenners and Kardashians owe their careers to household matriarch Kris.

Would someone buy it? "It might easily be an immediate game-changing acquisition for any firm on the hunt because that a to win brand through a younger customer," states Tara Simon, an elderly vice president of merchandising at cosmetics giant Ulta.

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But celebrity lines cannot command valuations anywhere near the six times revenue that various other beauty brands demand since of the volatility the relying ~ above one name to offer a product. Kylie Cosmetics could definitely sell for fifty percent that, or 3 times sales, i beg your pardon is where locations its valuation. "They"re not looking to be sustainable brands," said Mintel"s buy it Jindal, referring to Kylie Cosmetics and KKW Beauty. "In a pair of year it wouldn"t surprise me if she was on come something else. As soon as you are leveraging her name, you deserve to turn it into anything you desire to sell."

When you have the right to make such quick cash, who demands a big exit? Kylie Cosmetics has already generated an estimated $230 million in network profit. And sometime later on this year, its owner will most likely take a title the Bill Gates and Mark Zuckerberg when held–youngest-ever self-made billionaire, redefining in the procedure the very nature the "self-made." It"s fairly a human being we live in.

Read the latest: At 21, Kylie zener Becomes The Youngest Self-Made Billionaire Ever

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Kim Kardashian"s cell phone universe and also China"s Hollywood ambitions, plus functions on suppliers from White lock to Paddle8. Online, i tally the world"s highest-paid actors to models, writer and also rappers, keeping tabs top top the glitz and glamour that the Hollywood hustle. I also co-edit the 30 Under 30 Music and Hollywood lists, as well as the Entertainment section of Under 30 Europe. As a former reporter ~ above’ wide range team, I covered the world"s 1,820+ billionaires, examining how lock made, spent and also gave away your fortunes. I an initial joined as an intern in 2012, extending startups and also entrepreneurship. A graduate of Columbia University, I"ve created for The nationwide newspaper in mine hometown of Abu Dhabi and in Hong Kong, among others. Monitor me ~ above Twitter or gain in touch: nrobehmed(at) You have the right to send me a secure tip at or submit sensitive documents anonymously and also securely at">