Over the last several years, Kylie Jenner has become a household name.
Unless you live under a rock, you probably can’t go one week without hearing a breaking news story about Kylie or the Kardashians. Whether it’s online, on TV, or gossip overheard at a local coffee shop, it seems like everyone on the planet is talking about this family.
Love them or hate them; there are certain facts that just can’t be ignored. At 22 years young, Kylie Jenner is the world’s youngest billionaire.
That’s right; billion—with a B.
Let me take a moment to put that into perspective for you. Facebook founder, Mark Zuckerberg, became the fastest self-made billionaire when he reached this milestone at 23 years old. Kylie claimed this title two years faster than he did.
Zuckerberg earned his billions by revolutionizing our world with social media. Kylie built her fortune selling lip kits. When comparing the two, it’s ironic because Kylie used Instagram (owned by Facebook) to achieve her monumental accomplishments.
Yes, Kylie was born into the spotlight. She’s the daughter of Olympic gold medal winner, Bruce Jenner (now Caitlyn Jenner). Her half-sister is Kim Kardashian. Kanye West is her brother-in-law. It’s safe to say that her life in this celebrity family is far from ordinary.
Why should you care?
Kylie made $1 billion with Instagram and Shopify. These are two platforms that all of us have access to. She might have been able to scale it faster than everyone else, but you can apply those same principles to build your business as well.
I can’t sit here and promise that you’ll make $1 billion. But you can still have tremendous success by emulating her business model.
Accumulating so much wealth at such a young age is an incredible accomplishment. I’ll explain everything you need to know about Kylie and her path to $1 billion.
Life of Kylie — Biography and Timeline
Knowing where Kylie came from is crucial to understanding her billion-dollar success story. There’s no doubt that her upbringing contributed to her achievements.
She’s a model, reality TV star, social media influencer, socialite, and entrepreneur. Kylie currently resides in Hidden Hills, California. Jenner used to dating Houston rapper, Travis Scott. Kylie gave birth to their daughter, Stormi Webster, on February 1, 2018.
But $1 billion didn’t happen overnight. Let’s start from the beginning. Here’s a timeline of the monumental events in Kylie’s life that made her into the woman we know her as today.
2007: Reality Television
Kylie’s life has been recorded in a reality TV series, Keeping Up with the Kardashians, since Jenner was just ten years old.
The show first aired on E! in on October 14, 2007. Since then, there have been more than 230 episodes of the course of 15 seasons. There is plenty more to come. Renewed contracts with the network have the series running through 2020, at least.
KUWTK details the personal and professional lives of Kylie and her celebrity family.
The world got to watch Kylie grow up in front of their eyes. This made it easy for her to eventually transition into a social media icon, which is where she ultimately built her fortune.
2011: Kardashian Kolor
Kylie and her sisters struck a deal with OPI Nail Polish in 2011. The reality TV stars launched a nail polish line called “Kardashian Kolors.” Kylie’s colors were named “Wear Something Spar-kylie” and “Rainbow in the S-kylie.”
It was a lucrative deal for Jenner, who was just 13 years old at the time. She made $100,000 for her participation. All she had to do was attend a photo shoot, and tweet about the nail polish.
As a teenager, Kylie was already using her social media profile to help her cash a six-figure paycheck.
2013: “Kylie & Kendall” Clothing Line
Just 15 years old, Kylie and her older sister Kendall signed with PacSun for a young woman’s clothing line to launch in February 2013. The line became available in all PacSun stores across the nation. At the time, PacSun had 721 stores covering all 50 states.
Prices for the Kylie & Kendall clothing and accessories retailed from $24.50 to $79.50. The collaboration was marketed toward teenage girls. This target market holds great significance with Kylie’s subsequent endeavors on her path to $1 billion.
This was the first major clothing endorsement deal for Kylie, but it certainly was not her last.
2014: Time Magazine and Steve Madden
At age 17, Time Magazine named Kylie one of the most influential teens of the year. The list included other notable teens like Jaden Smith, Lorde, as well as Sasha and Malia Obama. Kylie’s sister Kendall was also on the list.
Nobody could have predicted the influence Kylie would gain in the years to come.
That same year, Kylie and Kendall partnered with Steve Madden for the “Madden Girl” line.
The sisters designed ten pairs of shoes and eight handbags, all falling in the $34 to $80 price range. This collaboration would, yet again, target teenage girls.
2015: Kylie Cosmetics
After more modeling and clothing collaborations with her sister, Kylie branched out to create her own brand, Kylie Cosmetics.
Initially, she just sold three different “Lip Kits.” The first batch of inventory sold out online in 60 seconds. Her products have since expanded to include things like eye makeup, blush, and makeup tools.
We’ll take a more in-depth look at Kylie Cosmetics shortly.
2017: Life of Kylie
On August 6, 2017, just days before her 20th birthday, Kylie’s own reality television series premiered on E!.
Unlike KUWTK, Life of Kylie was focused on the daily life of the young entrepreneur, as opposed to her family. Kylie’s best friend, Jordyn Woods, plays a prominent role in the show.
Woods has been all over the news as of late for allegations in a cheating scandal involving NBA star, Tristan Thompson and Kylie’s half-sister, Khloe Kardashian. But that’s a story for another day.
In March 2019, Forbes Magazine officially announced Kylie Jenner as the world’s youngest self-made billionaire. Less than a year ago the same publication ran a story valuing Jenner’s net worth at $900 million.
Jenner appeared on the cover, where they predicted she’d reach the $1 billion milestone.
After the story first ran in the summer of 2018, Kylie’s fans created a GoFundMe page taking donations to get the star to $1 billion. Obviously, the campaign didn’t actually put money in her pocket and was more of a joke. But it just goes to show you how powerful her influence and following is.
Kylie became a billionaire less than four years (roughly 40 months) after her company launched.
Coty, Inc. even managed to buy a 51% controlling interest in the company for $600 million in November 2019.
In October 2019, Jenner filed to trademark the phrase “rise and shine,” a line that became a meme when footage of Jenner singing the phrase to her 1-year-old daughter, Stormi, went viral.
The hashtag #RiseandShine reached one billion views on TikTok, making it the platform’s fastest-growing hashtag trend.
Keeping Up With The Kardashians
Despite the name of the television show, the Kardashians are quite difficult to keep up with. I could go on for days discussing the lives, gossip, X-rated videos, and scandals involving this family.
Instead, I just want to take a minute to identify the prominent members in Kylie’s life. Jenner ultimately leveraged their reach and exposure to build her empire.
- Bruce (Caitlyn) Jenner: Kylie’s father. In 2015 came out as a transgender woman in a 20/20 interview with Diane Sawyer.
- Kris Jenner: Kylie’s mother and agent. Kris takes a 10% manager commission for all of her children.
- Kendall Jenner: Sister.
- Kim Kardashian: Half-sister.
- Kourtney Kardashian: Half-sister.
- Khloe Kardashian: Half-sister.
- Rob Kardashian: Half-brother.
- Brandon Jenner: Half-brother.
- Burt Jenner: Half-brother
- Brody Jenner: Half-brother. Brody is known for his reality TV appearances in The Princes of Malibu and The Hills.
- Cassandra Marino: Half-sister.
- Travi$ Scott: Travis is Kylie’s ex-boyfriend and the father of her daughter, Stormi.
Kylie’s family has other big-time celebrity connections. The list of current and former partners and spouses ranges from athletes to rappers. Some notable names include Kanye West, Reggie Bush, Kris Humphries, Scott Disick, Lamar Odom, Tristan Thompson, Adrienne Bailon, and Blac Chyna.
Any time one of these people made news headlines, it brought more attention to the Kardashian-Jenner family.
This is extremely significant for Kylie’s path to $1 billion. All of this exposure on her, her family, and known associations made it possible for her to stay relevant. The Kardashians and Kylie are never yesterday’s news. Old headlines are just replaced with new ones, but always surrounding the family.
Formally Kylie Lip Kits, Kylie Cosmetics was founded on November 30, 2015. The company headquarters is located in Oxnard, California, less than 50 miles from Jenner’s home in Hidden Hills.
How did Kylie Cosmetics get started?
Around 2014 the youngest Jenner was gaining lots of attention for the noticeable growing size in her lips. The attention sparked the viral fad on social media, called the “Kylie Jenner lip challenge.”
Teens all over the world were putting a glass around their lips and sucking in air through their mouth, giving their lips a ballooned appearance. Doctors everywhere were being interviewed about the dangers associated with this challenge. Either way, it was big news surrounding Kylie.
In May 2015, the 17-year-old admitted that she had been using lip fillers.
The announcement was so big that the search term for “lips” on Google reached an all-time high.
Jenner said that the size of her lips had always made her insecure, even at a young age. This was the perfect time to capitalize on the attention surrounding Kylie. She founded her company just six months after the announcement.
Who funded Kylie Cosmetics?
Well, Kylie did. Her mother helped her with the business operation side of things. But the $250,000 used to pay for the initial 15,000 lip kits came from Kylie’s modeling earnings.
Refer back to the timeline. By this point in her life, she already had big deals with major companies. Plus, as a teenager, she had virtually no expenses. Coming up with the $250k wasn’t that crazy for her.
The investment paid off big-time. Her products sold out instantly. The best part of all, she was able to do this without any paid advertisements. That’s right; Kylie Cosmetics is promoted organically.
Kylie used Instagram to promote her lip kits back before the products were even available for purchase. All she did was post content on social media about her upcoming lip kits. Jenner uses this same strategy today, in 2020.
Her company instagram shares popular beauty influences reviews, sales, new products, and many photos of Jenner herself using the products.
Immersive content such as video tutorials, trends and inspiration are often included on the websites of high street and high-end beauty brands.
Before the launch of her first pop-up store, people camped in the parking lot overnight to be first in the queue in the morning. When the lip kits are restocked or launched on her website they sell out within minutes.
While other celebrities don’t get that kind of sales on their products (perfumes etc) Kylie’s use of a technique called ‘the drop’ is the reason for this boost.
The products need to sell out for the strategy to be effective. This is why you always see Kylie’s products with elements of gold, and her social media strategies are genius.
Hype needs to be built around the impending release of the product in order to build demand.
Kylie also creates videos to launch her products and reinforce this idea of luxury and exclusivity, and her branding is especially well-done.
It makes sense. After all, who could she possibly pay to promote her products that has a better platform than her own? Other companies used her to expose their brands to teenage girls because she’s the perfect candidate for that target market.
All of these girls already wanted to be like Kylie. They see her on TV and rushed to try and get lips like her, even through dangerous methods (like the lip challenge).
Now they have the chance to buy her personal lip kits. Of course, it was going to be a huge success.
Kylie Cosmetics has extremely low overhead. They have just seven full-time employees, and five-part time employees. 12 people—that’s it!
All manufacturing and packaging get outsourced to Seed Beauty. Sales and fulfillment are processed through Shopify.
In short, the company barely has any expenses, inventory is purchased with profits, they spend $0 in advertising, and there is a feeding frenzy for their direct-to-consumer (D2C) product line. This helped make Kylie Cosmetics become one of the fastest growing beauty companies of all time.
Kylie Cosmetics earned roughly $630 million of revenue in less than three years. It’s a big number, but let’s put that into perspective. How long did it take other giants in the beauty industry to become so successful?
It took Tom Ford 10 years to reach $500 million in sales after launching his beauty line in 2006.
MAC reached $250 million after 13 years in business. It took them an additional 10 years to hit the $500 million mark.
L’Oreal Lancome hit $1 billion after 80 years in business.
So yes, it’s safe to say Kylie’s brand was scaling faster than ever seen before in the beauty world. All of this was accomplished with Instagram and Shopify.
How did Kylie Jenner make $1 billion with Shopify?
In simple terms, Shopify is an ecommerce platform. It’s robust enough to support any online business, from small to large, and anywhere in between.
Their platform allowed Kylie (or anyone) to create a customizable online store. With Shopify, brands can sell from multiple places including online, from mobile devices, and through social media. They even support pop-up shops and brick-and-mortar businesses.
As a cloud-based software, Shopify users don’t have to worry about maintaining software, upgrading to the latest version, or focusing on their web servers.
Shopify supports drop shipping businesses, which is crucial for Kylie Cosmetics. Orders get shipped straight from the manufacturer. So Jenner doesn’t have to worry about fulfilling orders or shipping logistics. All she has to do is promote the product, which costs her nothing with organic Instagram posts.
Kylie Cosmetics isn’t the only major brand using Shopify. Some other notable names include:
- Tesla Motors
- Red Bull
- Herschel Supply Co.
- Los Angeles Lakers
- October’s Very Own (OVO, which is Drake’s brand)
As you can see, it’s extremely versatile, even for big companies. So if you sell products online and need an e-commerce platform, you can follow in Kylie’s footsteps by using Shopify.
Deal With Ulta Beauty
The vast majority of Kylie Cosmetics products are sold online. But it’s also worth noting that she recently experimented with brick and mortar sales.
Rather than opening up her own stores, she simply partnered with a beauty company that already has existing locations. It’s a smart move. Remember, Kylie is all about low-cost and overhead.
Products hit the shelves of Ulta Beauty stores on November 17, 2018. The company has 1,124 stores across the United States. To say it was successful would be a drastic understatement.
Kylie sold $54.5 million worth of products in her first six weeks with Ulta.
So, what exactly is Kylie selling?
As I said before, it all started with Kylie Lip Kits. What’s a lip kit? For anyone other than a teenage girl, it’s a fair question.
Each Kylie Cosmetics lip kit comes with a matte liquid lipstick and a matching lip liner. This was the foundation for her beauty empire.
But Kylie has been expanding her product line. Today, her ecommerce site also sells things like highlighters, skin concealers, setting powders, lip gloss, eye shadow, and other beauty accessories.
Lip kits retail for $29. But other items go for much more. Her 2019 Valentine Collection bundle retailed for $209. Her 21st Birthday Mega Bundle sold for $415, although the package came with several items.
As expected, these limited options are currently all sold out on her website.
Due to the easily recognizable packaging and high demand for the product at the time, some customers had their packages stolen.
In order to solve the theft issue, the boxes were changed to a basic black, and the recognizable lip gloss design was moved to the inside of the box.
The Power of Instagram — Kylie’s Social Media Influence
Instagram is Jenner’s primary platform to promote her company. Kylie became a billionaire without spending a dime on advertisements.
How is this possible?
It’s all about branding. Refer back to what we talked about earlier in terms of the TV show, brand collaborations, modeling deals, and celebrity associations. All of this allowed Kylie to create her personal brand before founding Kylie Cosmetics.
Without her personal brand attached to the product, it’s worthless. How is Nike able to sell shoes for $150 when they can be bought for $20 somewhere else? How is Gucci able to sell shirts for $1,000?
It’s the same concept—branding. But unlike other companies, Kylie was able to brand herself on social media, without any endorsements.
Overall it’s a simple strategy that any business can implement.
- Build a following.
- Identify your niche.
Kylie just accomplished these three steps on a massive scale. Let’s focus on the first part; building a following.
Here’s a look at Kylie’s Instagram followers over the last 6 months, according to Ninjalitics.
In July 2014 she had 9.7 million followers. This was around the same time she was gaining attention for the growing size of her lips.
One year later, in July 2015, her Instagram follower count nearly tripled, reaching 28 million. This was three months after Jenner announced that she had been using lip fillers.
When Kylie Cosmetics launched in November 2015, Jenner had 43 million followers on Instagram. That’s a 43% increase in just four months.
Kylie reached the 50 million follower mark on February 3, 2016. She hit 100 million the following year, in December 2017.
As of July 2020, she sits at 183 million Instagram followers. Who knows? By the time you read this, she’ll probably be over 190 million at the rate she’s been going.
On average, Kylie gains 146,141 followers per day. That translates to more than 6,000 followers per hour!
Where does that stack up against her sisters? Let’s take a look.
- Kim Kardashian — 178.1 million followers
- Kendall Jenner — 133 million followers
- Khloe Kardashian — 115.7 million followers
- Kourtney Kardashian — 96.9 million followers.
Kylie and her sisters have a combined 706 million followers on Instagram. Her mother, Kris, has 35 million followers. When you add her to the mix that’s more than 741 million total.
It’s also worth noting that her company’s page, @kyliecosmetics has 24.3 million followers.
But lots of people have a huge following on social media. As of June 2020, the most followed account on Instagram (besides Instagram) is an international soccer star, Cristiano Ronaldo.
Yet, Ronaldo’s estimated net worth is $450 million. At 35 years old, Ronaldo has been playing professional soccer for more than 16 years.
Look at the other big names on this list. Not one other person is a billionaire. In fact, nobody on this list has a net worth that even reaches $500 million.
What does this tell you?
Having lots of followers on Instagram doesn’t mean anything unless you’re able to monetize them. Kylie was able to do that better than anyone else.
But in order to have a successful monetization strategy, you’ve got to know your audience. Take a look at who follows Kylie on Instagram.
Nearly 80% of her followers fall into the same age group as she does. Who is Kylie’s brand targeting? Girls in her age group.
Kylie has posted more than 6,400 times on her Instagram profile. The Kylie Cosmetics page has more than 6,700 posts as well.
But she does more than that. Kylie leverages Instagram live, and Instagram stories to promote her personal brand and products.
Kylie has also come up with a great strategy for driving high demand for her product; although she may have stumbled into this unintentionally.
Remember how the company started? She spent $250,000 on 15,000 lip kits. That’s a lot of inventory that literally sold out in seconds.
Not so fast. At the time, Kylie had 43 million followers on Instagram. Assuming all sales came from her followers, 15,000 units is just 0.03% of her entire following.
The average Instagram conversion rate is 1.08%, so her inventory estimates were actually pretty modest. But nobody could have predicted how fast her product would sell.
Kylie continued to use that same strategy moving forward. By creating a limited amount of products and promoting them for months in advance, the demand is always high.
In 2016, her limited edition lip kits for Valentine’s day sold out in just 10 minutes.
Her engagement metrics are impressive as well. Typically, as an account gets more followers, engagement drops. Here are some statistics from a recent study that analyzed more than one million Instagram influencer accounts.
Once accounts hit the 100,000 follower mark, engagement drops to 1.7%. Kim Kardashian has a 1.21% engagement rate, which is right in line with that average.
But Kylie Jenner has a 3.13% engagement rate on Instagram.
In order for her business to function, people need to like and comment on her posts. They need to view her stories. They need to watch her live video streams. By increasing engagement, she simultaneously increases her chances of driving sales.
How do you increase engagement? You need to post relevant content on a regular basis.
Kylie is a genius with this. Everything she posts appeals to her audience. Her followers want to be like her, so they’ll gladly purchase her products.
Jenner built a billion-dollar empire on this premise. That’s the power of Instagram.
Kylie by the Numbers: $1 Billion
How did Kylie Jenner become a billionaire?
It’s time to look at the numbers. $1 billion is tough to account for dollar for dollar, but we can still break down the most significant figures. Here’s how she reached $1 billion.
Jenner made $100,000 promoting nail polish at age 13. Over the next couple of years, she made similar deals with new clothing lines for various brands.
Kylie paid $250,000 of her own money to fund the first 15,000 lip kits when she launched her business.
She kept it simple. Initially, there were only three different types of lip kits available for purchase. That inventory sold out in 60 seconds.
Retailing for $29 per lip kit, that translates to $435,000 in revenue in just one minute. Not bad for a day’s work.
In the first 18 months of business, Kylie Cosmetics sold $420 million worth of products.
Last year, in 2018, the company made $360 million in revenue.
The current valuation of Kylie Cosmetics is $900 million.
After partnering with Ulta Beauty, Jenner sold $54.5 million worth of products in just six weeks.
Kylie Jenner gets paid $5 million for each season of Keeping Up with the Kardashians.
Kylie has more than 183 million followers on Instagram. That’s why she charges $1 million per paid Instagram post.
For two years straight, Kylie Jenner was the top-earning star when it came to Instagram, racking in an average of $1.27 million per sponsored post.
According to Hopper, Dwayne “The Rock” Johnson is now the No. 1 highest-paid star on Instagram. Apparently, the actor is the only star who makes more than $1 million per post on average.
So, what does a $1 billion get you? I’m sure some of you are wondering what Kylie Jenner spends her money on. Here are some of the big purchases:
- $12 million 8 bedroom home in Hidden Hills, California.
- Over $1.4 million on luxury cars, including a Range Rover, Mercedes Maybach Benz, Rolls Royce, two Ferraris, and a Mercedes G Wagon.
- $50,000 Fendi baby stroller for her daughter, Stormi.
- $70,000 on baby clothes for Stormi.
- Rolly, her English bulldog puppy, was $50,000.
- $1 million private jet.
- $1 million collection of bags and purses.
- $10,000 on takeout food per year with Postmates.
It’s quite the lifestyle for a girl who has been legally old enough to drink for less than a year. But with a $1 billion net worth, it’s safe to say she can afford it.
World’s Youngest Billionaires
Who is the youngest billionaire in the world? Kylie Jenner isn’t the only person in their 20s with substantial wealth. We’ll take a look at the top eight billionaires in the world under the age of 30.
1. Kylie Jenner
- Age: 22
- Net worth: $1 billion
- Country: United States
Kylie owns 49% stake of her makeup company after the Coty, Inc. sale, Kylie Cosmetics. This celebrity in the Kardashian-Jenner family is the youngest self-made billionaire ever.
2. Alexandra Andresen
- Age: 23
- Net worth: $1.3 billion
- Country: Norway
Alexandra inherited 42% of her father Johan’s investment company, Ferd. Ferd has private equity investments and runs hedge funds in the Nordic stock exchange.
3. Katharina Andresen
- Age: 25
- Net worth: $1.3 billion
- Country: Norway
Katharina Andresen is Alexandra’s older sister. She also inherited 42% of Ferd from her father, Johan.
4. Gustav Magnar Witzoe
- Age: 27
- Net worth: $3 billion
- Country: Norway
Gustav’s father founded SalMar ASA in 1991. The company is one of the largest salmon producers in the world. In 2013, Wiztoe inherited nearly half of the company, as a gift from his father.
5. John Collison
- Age: 29
- Net Worth: $3.2 billion
- Country: United States
A Harvard graduate, Collision is the president of Stripe, an online payment processing company. John co-founded the company with his brother Patrick (age 30) in 2011.
6. Evan Spiegel
- Age: 30
- Net Worth: $4.9 billion
- Country: United States
Spiegel is the CEO and co-founder of Snap Inc. Spiegel created Snapchat with his college classmates Bobby Murphy and Reggie Brown while they attended Stanford University. In 2015, Spiegel was the world’s youngest billionaire at the time.
7. Ludwig Theodor Braun
- Age: 30
- Net Worth: $1 billion
- Country: Germany
Braun owns 10% equity in B. Braun Melsungen, which is a medical device company with 60,000 employees across the world. Ludwig inherited his shares in the company from his father.
8. Anna Kasprzak
- Age: 30
- Net Worth: $1 billion
- Country: Denmark
Anna is a part-owner of ECOO, a Danish shoe manufacturer with more than $1.46 billion in sales. The company was originally founded by Kasprzak grandfather in 1963, and her shares were inherited after he passed away. Kasprzak is a dressage rider and has competed in two Summer Olympics (2012 and 2016).
Is Kylie Jenner a “Self-Made” Billionaire?
This has been the billion-dollar question since the news broke of Kylie’s net worth. Everyone seems to be weighing in with an opinion.
The answer truly depends on your definition of “self-made.” I’ll make a case for both sides and let you decide for yourself.
According to Forbes, Kylie is self-made because she didn’t inherit her wealth. If you refer back to the list of the world’s eight youngest billionaires, five of them were handed their money, as opposed to earning it.
Kylie Jenner, John Collison, and Evan Spiegel were the only ones on the list who founded their own companies.
However, Kylie is different from everyone else. She was born into the limelight. Think back to all of the points we covered about her parents, siblings, and celebrity associates. This undoubtedly made it easier for Kylie to become successful.
But with that said, where do you draw the line? Do you need to come from nothing to be considered self-made?
For example, what if a person raised in an average middle-class American household got their college education paid for by their parents. After graduation, this person went on to start their own business that became a major success. Is that person self-made?
Look at Mark Zuckerberg. Nobody doubts that he was self-made. Mark was raised in Dobbs Ferry, New York. The median household income there is $120,631, which is more than double the national average.
As a child, Mark went to private school. His mother was a psychiatrist, and his father was a dentist. When he was in middle school, his parents hired a software developer to give Zuckerberg private tutoring lessons.
Don’t get me wrong; I’m not going to sit here and say that Mark Zuckerberg isn’t self-made. I’m just trying to draw parallels between him and Kylie.
Kylie did not inherit her wealth. She was given an opportunity and took advantage of it.
She accumulated a massive Instagram following and simply promoted her own brand using posts like this.
It’s that simple!
People will say, “Anyone in her position would have been able to do the same thing.”
Really? Kylie Jenner has nine siblings. None of them are billionaires. Her next-richest sister is Kim Kardashian, who has an estimated net worth of $350 million. By the way, Kim has a Beauty company as well. She has more Instagram followers than Kylie and still hasn’t come close to $1 billion.
The reality is this—Kylie Jenner owns 100% of her company, and she personally funded the startup costs.
She built her fortune using Instagram and Shopify, two platforms that everyone with an Internet connection has access to. If anyone else in her position could do the same, why haven’t they?
So is Kylie Jenner a self-made billionaire? I’ll let you decide that one for yourself.
What You Can Learn From Kylie
Since Kylie and her family were so well-known, she was able to scale her business extremely fast. But with that said, she used basic strategies that anyone can apply to their own company.
Carve out a niche.
Know your target audience. Find out what your audience wants, and give it to them.
In Kylie’s case, she realized that people wanted to have lips like her. So what did she do? She started selling lip kits. It just goes to show you that you don’t have to be a rocket scientist and come up with some groundbreaking product that will revolutionize an industry to become successful.
Keep it simple.
Kylie doesn’t have thousands of employees across the world. Just twelve people work for her, and only half are full-time. Everything else is outsourced, which keeps her overhead costs extremely low and easy to manage.
Promote your products on social media.
It’s all about branding. Jenner doesn’t spend any money on advertising. She organically grew her followers and then monetized them. In her case, she was able to make millions from it in just a couple of years.
That may not be realistic for everyone, but there is still plenty of money to be made. Start with 1,000 or 10,000 followers. Then work your way up to toward 100,000. Once people are familiar with your name and brand, use your social media profiles as a distribution platform.
Create educational content. Post pictures of your products. Share videos. Broadcast live. Add content to your story. Give product demonstrations on YouTube.
Take advantage of opportunities and resources.
If you see an opportunity, don’t be afraid to run with it. After the “Kylie Lip Challenge” fad and all of the buzz surrounding Kylie’s lips, she could have just done nothing about it. Her family was already wealthy, and she probably could have gone the rest of her life without working if she wanted.
But Kylie was hungry and ambitious enough to see an opportunity. Rather than distributing products on her own, she looked for resources like Shopify to meet her needs.
Everyone is entitled to their opinion. Love her or hate her; there are certain facts that can’t be ignored.
Kylie Jenner is a 22-year-old billionaire. She’s the youngest billionaire in the world.
The success of her company can’t be argued or disputed. It’s truly remarkable what she’s been able to accomplish, especially at such a young age. Kylie has put herself in a position to continue growing exponentially for years to come.
With all of that said, her fortune was built on a simple formula.
She didn’t try to invent something new or never-before-seen. Kylie Jenner just branded herself, attached her name to a product, and sold it on Shopify using Instagram as a promotional method.
That’s how you make $1 billion in the modern era.