Kylie Jenner appearing on the cover of a magazine is hardly an event, but even we did a double take when her famous mug was plastered on Forbes' August issue ranking the most successful women entrepreneurs in America.
According to the magazine, the new mom will reach billionaire status by next year making her the youngest billionaire ever - male or female.
The youngest Jenner sister also reveals that she put up $250,000 of her own money to pay an outside company to make her first 15,000 lip kits.
It's hard to conceptualize Jenner's exponential wealth, but Forbes highlights its direct connection to her social media success. The current title holder is Facebook CEO Mark Zuckerberg who became a billionaire at age 23. Using its standard formulation, Forbes values the company at $800 million, and Kylie is the sole owner. "It could easily be an instant game-changing acquisition for any company on the hunt for a winning brand with a younger customer", senior VP or merchandising at Ulta Tara Simon said. According to Forbes, she sold more than $630 million worth of makeup since its launch, including an estimated $330 million in 2017.
Forbes' Natalie Robehmed details how Kylie Cosmetics has found success both by harnessing Jenner's huge social media following and slashing costs by outsourcing labor.
The 20-year-old with her seemingly unstoppable makeup empire, Kylie Cosmetics, is one of seven newcomers on the list, which includes the likes of her sister Kim Kardashian. "Wow, I can't believe I'm posting my very own @forbes cover", she captioned the pic.
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There has always been rumors that Kylie Jenner's Kylie Cosmetics (the brand that launched the OG lip kit and a million copycats) was on its way to being a billion-dollar business, and now it appears that historic milestone is closer than ever.
Forbes values Kylie Cosmetics - which launched with only lip kits less than three years ago - at almost $800 million.
Her first round of kits sold out in less than a minute.
"Even using a conservative multiple, and applying our standard 20 percent discount, Forbes values her company, which has since added other cosmetics like eyeshadow and concealer, at almost $800 million".
Reflecting on the future, Jenner said she plans on working on Kyle Cosmetics "forever" noting that maybe one day she'll "pass this on to" daughter Stormi "if she's into it".