Is Kylie Jenner Officially Billionaire After Selling 51% Of Her Company?
The 24-year-old beauty mogul, Kylie Jenner, began her journey in 2007 from Keeping Up with the Kardashians. With the correct platform and talent, she established her lipstick line called Kylie Lip Kit in 2015 (later renamed to Kylie Cosmetics).
Throughout time, she has made massive progress in her finance. In 2018, the brand reportedly sold about $630 million worth makeup. With the new alignment, Kylie is now considered the youngest self-made billionaire of the world; however, the argument still exists.
While there are few sources like Forbes who claim that after selling 51% of her company, the mother of one is officially a billionaire, but other sources put out some valid reasons that her worth might not be in nine figures yet.
The Dispute Over Kylie Jenner Being The Youngest Self-Made Billionaire Of All-Time
As of 24th November 2022, Kylie Jenner is officially a billionaire with a net worth of $1.5 billion, according to Forbes. The Billionaire status was added to her name after she confirmed a deal worth $600 million with Coty Inc. for 51% of Kylie Cosmetics valuing the company at $1.2 billion.
Whereas, according to Celebrity Net Worth, Kylie is actually not a billionaire as she is technically off by $12 million. In addition, Kylie’s remaining 49% stake is valued at $588 million on paper is pre-tax paper net worth.
If the wealthiest Kardhash-Jenner is to sell her remaining stake today, she will have around $294 million after taxes. Adding her $100 million and today’s $300 million, her net worth would sum up at $694 million.
In a similar way, her company is hardly worth $1.2 billion. The debate began from the Forbes’ July 2018 article where they claimed the company was worth $800 million.
As per the article, Kylie owned a separate $100 million non-cosmetic fortune, and there you are, she has a $900 million net worth, which is still not a Billion.
Reactions From Other Kardash-Jenner Sisters About The Deal
Following the $600 million deal, momager Kris Jenner was obviously very proud. She said:
“It was truly a moment for our family to be proud. It’s Kind of a crystallization of all our work.”
She further added,
“I think the goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand. That’s the vision.”
Likewise, older sister Kim Kardashian revealed that the agreement was in the pipeline for about a year.
Kim praised her sister for turning what was once insecurity about her lips into a billion-dollar business.
She said, “I’m so proud of her. To think, in her early twenties, she built a business off of something that she first was insecure about, and finding confidence and tapping into that and figuring out how to make an amazing product and just being true to herself and doing what she loves to do, That’s so inspiring and so amazing and I’m so proud of her.”
Her other sisters, including Kourtney Kardashian, Khloe Kardashian, and Kendall Jenner, are yet to react on public platforms.
The Journey Of Kylie Cosmetics
The beauty guru launched her billion-dollar company, Kylie Lip Kit, in August 2015. In February 2016, the company was later renamed to Kylie Cosmetics, and the production rose from merely 15,000 to 500,000.
Some of her notable collaborations include her sisters Kourtney Kardashian, Kim Kardashian-West, Khloe Kardashian, And momager Kris Jenner.
On 22nd May 2019, she founded her skincare brand Kylie Skin. The brand includes vegan skincare products like face washes, scrubs, makeup removal wipes, travel bags, hydrating lip masks, face masks, and moisturizers.
