Kylie Jenner, founder of Kylie Cosmetics, has become the globe’s youngest self-made billionaire after Kylie Cosmetics signed an exclusive partnership with Ulta Beauty Inc.
Kylie is worth $1.02 billion, according to the Bloomberg Billionaires Index, which supposes that she owns 90 percent of the company and the 10 percent is given to her mother Kris Jenner, who receives a management fee in exchange for handling public relations and finance.
Forbes stated earlier Tuesday that Kylie had reached the achievement.
Kylie founded Kylie Cosmetics in 2015. The company received $360 million of revenue last year, a 9 percent increase since 2017, according to Forbes.
Kylie Cosmetics outsources its manufacturing and packaging to Seed Beauty, and sales and fulfilment t to Shopify.
Bloomberg classifies people as self-made if they don’t receive their wealth through marriage, death or inheritance. Kylie has reached approximately 128 million Instagram followers and grasped her popularity to promote her goods.
by Alexandra Ramaite
