According to Forbes, she’s the youngest-ever “self-made” billionaire.
Kylie Jenner is a lot of things: a makeup mogul, a reality TV star, a possible chemtrail truther, a mom. As of this week, she’s also the world’s youngest “self-made” billionaire, per Forbes’s annual billionaires list. This isn’t the first time Forbes implied that the youngest Jenner got to where she is on her own: In July 2018, the magazine published a story on “America’s women billionaires” featuring Kylie, whom it claimed was “set to be the youngest-ever self-made billionaire.”© 2017 Getty Images Kylie Jenner unveils Her New Wax Figure at Madame Tussauds Hollywood on July 18, 2017 in Los Angeles, California. (Photo by Vivien Killilea/Getty Images for Madame Tussauds Hollywood)
Whether Kylie Jenner, whose family has been the subject of the wildly popular reality show Keeping Up With the Kardashians — not to mention several spinoffs, including her very own miniseries, Life of Kylie — is truly “self-made” has become a topic of contention. Critics say her financial success never would have been possible had she not been born into a life of fame and fortune. Despite the moniker, it’s not a stretch to say Kylie’s 10-figure net worth has a little something to do with her famous (and already quite wealthy) family.
© Jordan Strauss/Invision/AP Kylie Jenner arrives at the 61st annual Grammy Awards at the Staples Center on Sunday, Feb. 10, 2019, in Los Angeles. (Photo by Jordan Strauss/Invision/AP) There’s Kim, the most contoured and arguably the most famous Kardashian, whose leaked sex tape turned the family into a household name in the aughts, and who, in less than a decade, went from being Paris Hilton’s assistant to gracing the cover of Vogue. There’s Kourtney, whose brand can best be summed up as glam mommy blogger (she’s launching a new lifestyle brand, named Poosh after her nickname for her daughter, Penelope); and Khloe, the one who’s into fitness (she has a show called Revenge Body, which is basically about getting fit to get even). Kendall, the model, has become a fashion week mainstay. (And then there’s Rob, who is best known for his failed relationship with Blac Chyna and his uh, novelty sock line; the Kardashians don’t really talk about him a lot.)
To someone who has followed the Kardashian-Jenners closely, Kylie’s meteoric rise is both unlikely — she was, for a time, the most normal and low-key member of her family — and completely expected.
© Thomson Reuters Kylie Jenner. REUTERS/Andrew Kelly Kylie’s billionaire status raises a more interesting question than whether she really did it all on her own. How did the youngest (and at one point, the least famous) of the Kardashian-Jenner clan out-earn all her siblings? In other words, how did Kylie become a billionaire before Kim?
The devil works hard, but Kris Jenner works harder
Kylie’s financial success, as well as that of her siblings, is largely the result of one woman’s hard work: Kris Jenner, the matriarch of the Kardashian-Jenner family, who also happens to manage all her children’s careers. If there’s one thing Kris knows how to do, it’s put her kids to work — especially in ways that, more often than not, don’t look like real work at all.
© Thomson Reuters Travis Scott and Kylie Jenner arrive at the Metropolitan Museum of Art Costume Institute Gala (Met Gala) to celebrate the opening of “Heavenly Bodies: Fashion and the Catholic Imagination” in the Manhattan borough of New York, U.S., May 7, 2018. REUTERS/Carlo Allegri Kris was the one who pitched Keeping Up With the Kardashians, which premiered in 2007, to Ryan Seacrest. (Kim’s sex tape with Ray J, which leaked a year earlier, was both an “aha” moment for Kris and a plot point on the show’s first season. “When I first heard about Kim’s tape, as her mother, I wanted to kill her,” Kris said in a confessional. “But as her manager, I knew that I had a job to do.”) Perhaps without meaning to — though, to be clear, everything Kris Jenner does is intentional — she secured her family’s place in the zeitgeist and laid the foundation for Kylie’s eventual fortune.
Kylie wasn’t really relevant in the show’s earliest seasons; she and Kendall were mostly there for comic relief and the occasional feel-good plot line about volunteering.
© Evan Agostini/Invision/AP Kylie Jenner arrives at the MTV Video Music Awards at Radio City Music Hall on Monday, Aug. 20, 2018, in New York. (Photo by Evan Agostini/Invision/AP) But as Kendall and Kylie entered their late teens, Kris began securing sponsorship and licensing deals for her two youngest children. The two Jenner sisters launched lines at PacSun, Steve Madden, Topshop, and Sugar Factory, a candy company. Kylie later launched a solo hair extensions line with Bellami Hair. The real money, though, came later.
Kendall leveraged the family name into a modeling career and instantly began walking in high-profile shows like Marc Jacobs, Givenchy, and Chanel, which, as Fashionista pointed out in 2014, are the kind of gigs most models get after years in the industry. And Kylie? In 2014, at the age of 17, the youngest of Kris’s children reportedly used $250,000 of her earnings from her various brand sponsorships and modeling jobs to create the first of her eponymous lip kits.
© Evan Agostini/Invision/AP Kylie Jenner, left and Travis Scott attend The Metropolitan Museum of Art's Costume Institute benefit gala celebrating the opening of the Heavenly Bodies: Fashion and the Catholic Imagination exhibition on Monday, May 7, 2018, in New York. (Photo by Evan Agostini/Invision/AP) The fact that all the money was her own is an important part of the story: Kylie is the sole owner of Kylie Cosmetics, as well as its CEO and chief marketing officer. Her mother is its chief financial officer and continues to manage Kylie’s career. Unlike most other entrepreneurs, Kylie didn’t have to seek outside funding for her business venture because her mother had been booking branded content gigs and sponsorship deals for her for years. (In the Kardashian-Jenner world, becoming old enough to shill #spon is a sort of coming of age, like a bat mitzvah or a quinceañera.) Had Kylie needed an investor, she wouldn’t own 100 percent of Kylie Cosmetics today — if that were the case, it’s possible she wouldn’t be a billionaire.
Source : https://www.msn.com/en-ie/money/news/how-kylie-became-the-wealthiest-member-of-the-kardashian-jenner-family/ar-BBUwoPz?li=AAl3MKL