Posted by News Express | 9 March 2019 | 583 times
Kylie Jenner, the founder of Kylie Cosmetics, has become the world’s youngest self-made billionaire after her company signed an exclusive partnership with Ulta Beauty Inc.
Jenner, 21, is worth $1.02 billion, according to the Bloomberg Billionaires Index, which assumes that she owns 90 percent of her company and ascribes the rest to her mother Kris, who takes a management fee in exchange for handling public relations and finance. Forbes, relying on a different methodology, reported earlier Tuesday that Jenner had achieved the milestone.
Jenner, the half sister of Kim Kardashian, founded Kylie Cosmetics in 2015. The company posted $360 million of revenue last year, a 9 percent increase from 2017, according to Forbes.
Bloomberg classifies people as self-made if they don’t inherit their wealth through marriage, death or bequests. Jenner, the youngest member of the Kardashian-Jenner clan, has amassed 128 million Instagram followers and leveraged that popularity to promote her products.
•Sourced from a Businessday report
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