03.07.19
It's official -- Kylie Jenner is the youngest-ever self-made billionaire, according to Forbes.
The milestone was fueled, in part, by the brand's roll-out to 1,000 Ulta stores last November. Forbes reports that within six weeks, the brand pulled in an estimated $54.65 million after the launch -- while Kylie took care of marketing by showing up to greet fans at several Ulta stores.
According to the article, Kylie Cosmetics has just seven full-time and five part-time employees, and outsources its manufacturing and packaging to Seed Beauty.
Forbes tweeted, the photo above, saying, "Kylie Jenner leveraged her massive social media following to build a $1 billion empire."
But Is Kylie 'Self-Made'?
Forbes says yes, and explains why Kylie fits its definition of "self-made," even if Kim Kardashian West helped make her famous and her mom helped build her business. Kylie excels at using her fame to her advantage. There are many commenters on social media, however, who disagree --- in this story, the Washington Post discusses the topic in-depth.
When Forbes featured Jenner on its cover last year for the story, America's Richest Self-Made Women, its staff gave each of the 60 women on its list a "self-made score."
Here's how Forbes' scoring system works: Oprah Winfrey scored a 10, which is defined as "Self-made who not only grew up poor, but also overcame significant obstacles." Jenner is a 7, defined as: "Self-made who got a head start from wealthy parents and moneyed background."
Forbes explains more in the article, Here's What Forbes Means By Self-Made: From Bootstrappers To Silver Spooners.
One point can't be argued -- Jenner didn't inherit a beauty company from her famous family, she created it.
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