She is just 22 and already soaring great heights in both business and beauty. Recently, Kylie Jenner sold a controlling share of ‘Kylie Cosmetics’ to Coty for a whopping $600 million. With this Kylie Jenner’s net worth shot higher than any Kardashian or Jenner.
Kylie Jenner first wooed everyone when her net worth titled her a billionaire. And now she has taken another step up the ladder. On Monday, she sold a major share of her company, Kylie Cosmetics, to Coty (parent company of Cover Girl). With this transaction, Kylie Jenner’s net worth reportedly reflects that she is the wealthiest member among her Kardashian Jenner relatives.
And as a cherry on the top, she is just 22!
(Barely the drinking age!)
Kylie Cosmetics to Coty
Coty’s chairman of the board, Peter Harf, defined Kylie Jenner’s success in the perfect words, “Kylie is a modern-day icon, with an incredible sense of the beauty consumer.”
Furthermore, he talked about a bright future of Kylie Cosmetics and Coty, “We believe in the high potential of building a global beauty brand together.” In fact, he was sure to stress that Kylie Jenner would be the face of the brand. Coty’s CFO said, “On one side, Kylie brings her incredible strong brand equity … with unparalleled social media reach among Generation Z consumers.”
Not only this, apart from her net worth, Kylie Jenner has a whopping 151 million followers on Instagram. These enhance her worth in terms of global outreach. In fact, this also played a big part in Kylie Cosmetics’ success despite a slowdown.
Billionaire and more
It was in March 2019 that Forbes crowned Kylie Jenner for her net worth. According to Forbes, Kylie became the youngest self-made billionaire in world history. But many had issues with the choice of words (‘self-made’) since Kylie Jenner has mostly come to the limelight thanks to her famous sisters. Some even doubted that she is a billionaire.
If anyone had any doubts about whether she is a billionaire or not, Kylie Cosmetics’ deal with Coty cleared the picture. If 51% of the company cost $600 million, this roughly puts Kylie Cosmetics at $1.2 billion! (And to add to this, she has another brand under her belt)
With the massive success of Kylie Cosmetics, Kylie Jenner also launched another beauty line, Kylie Skin, in 2019. Not only this, but reports claim that she is earning $1 million per sponsored Instagram post! (Read all about it here) Yes, Kylie Jenner sure is a billionaire. (Stormi is lucky, we’d say)
Kylie Jenner is worth a billion dollars. Do you these facts about Kylie Jenner?