Kylie Jenner set to be youngest US self-made billionaire
Aged just 20 and the youngest member of the extended reality TV Kardashian clan, Kylie Jenner is on track to become America's youngest "self-made" billionaire, Forbes revealed on Wednesday.
The young mother, who gave birth to daughter Stormi in February, set up Kylie Cosmetics two years ago and the company has already sold more than US$630 million (S$860 million) worth of make-up, it said.
Forbes valued her company at US$800 million and raised her overall worth to US$900 million by throwing in earnings from TV programmes, endorsements and after-tax dividends.
Jenner owns 100 per cent of the company, which started out with a US$29 lip kit - a matching set of lipstick and lip liner.
She is already the youngest person on Forbes' list of richest self-made US women and another year of growth would make her the youngest self-made billionaire ever.
"Thank you @Forbes for this article and the recognition. I am so blessed to do what I love every day," Jenner tweeted next to a photograph of the cover story.
Forbes said her company has only seven full-time and five part-time employees, with manufacturing, packaging and sales outsourced, and momager Kris Jenner handling the business for a 10 per cent management cut.
"As ultralight start-ups go, Jenner's operation is essentially air. Because of those minuscule overhead and marketing costs, the profits are outsize and go right into (Kylie) Jenner's pocket," Forbes wrote. - AFP
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