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How does Kylie Jenner, the world’s youngest ‘self-made’ billionaire, spend her money?
The reality TV star behind Kylie Cosmetics, has a US$12 million home and bought her mum a US$250,000 Ferrari and daughter a US$12,500 Fendi push chair
Kylie Jenner, pictured at this year’s Met Gala charity event in New York, was named the world’s youngest self-made billionaire – at the age of 21 – by Forbes magazine in March. Photo: Reuters
Remember when Kylie Jenner caused a storm for being named “the youngest self-made billionaire ever” by Forbes magazine in March 2019 – much to the chagrin of many of her critics, including Dictionary.com?
By the age of 21, the American media personality was worth more than US$1 billion, and her cosmetics company, Kylie Cosmetics, was valued at US$900 million.
Much of the controversy surrounding Kylie's still-disputed title comes from the fact that she was born into wealth and fame. It is not exactly the scenario most people picture when they hear the words “self-made”.
Haven't we gone over this?
Self-made: Having succeeded in life unaided.https://t.co/g0ZHDSkVfu https://t.co/3O48zKsInN
— Dictionary.com (@Dictionarycom) March 5, 2019
As Dictonary.com, the online dictionary, wrote after the Forbes report was published: “Haven’t we gone over this? Self-made: Having succeeded in life unaided.”
Billionaire Kylie Jenner (second from right), beside her boyfriend Travis Scott and (from left) Corey Gamble, Kris Jenner, Kim Kardashian West, Kanye West and Kendall Jenner at May’s Met Gala charity event in New York. Photo: EPA-EFE
While being born a Kardashian-Jenner essentially ensured Kylie fame as well as a plush upbringing, she transformed that influence into her own impressive income.
So where exactly does Kylie's money come from?
Kylie's main source of revenue is her cosmetics company, Kylie Cosmetics. She started the company at just 17, reportedly using US$250,000 of her own money to launch her lip kits.
That US$250,000 came from various brand sponsorships and deals her mother helped secure for her during Kylie's teenage years. From walking in fashion shows to publishing a ghostwritten young adult fiction novel, Kris kept Kylie busy with various ventures.
A 2015 collaboration with Topshop and her sister, Kendall, also expanded into the Kylie and Kendall collection, a line at Neiman Marcus, and a collaboration with PacSun.
As a result of all those contracts bringing in cash, Kylie was able to launch her business without outside funding, something most entrepreneurs are not in a position to do.
Since its launch, Kylie has been the sole owner of Kylie Cosmetics as well as its CEO and chief marketing officer.
Kylie Cosmetics officially launched in November 2015, offering three US$29 lip kits to choose from. The demand for the kits caused the site to crash immediately, and once it was back up and running, the kit sold out within minutes.
Kylie Jenner’s main source of revenue is her cosmetics company, Kylie Cosmetics. She started the company at just 17, reportedly using US$250,000 of her own money to launch her lip kits
During its first 18 months, Kylie Cosmetics made US$420 million in sales, and it is estimated that Kylie personally earned US$60 million after taxes.
Kylie Jenner and her daughter, Stormi Webster, dressed in a Burberry jacket. Photo: Instagram @kyliejenner
Kylie herself attributes the early success of Kylie Cosmetics to her large social media following.
Before she launched her lip kits, Kylie had a combined 56 million followers from Instagram and Twitter. She was also known for having a massive following on Snapchat, with her regularly updating them about her life, along with sneak peeks of her lip kits.
Five years later, Kylie now has about 189 million combined followers on Instagram alone.
The estimated value of a single post by Kylie Jenner on social media is US$1 million. She has posted ads for products including Quay Sunglasses, Teami Blends detox tea and SugarBearHair Vitamins
Her huge social media following also brings in a hefty income for Kylie through sponsored posts.
The estimated value of a single post is US$1 million. She has posted ads for products including Quay Sunglasses, Teami Blends detox tea and SugarBearHair Vitamins.
Kylie's social media is also where we can see how she spends her millions.
In 2016, she bought a 1.4-acre (0.5 hectare) Hidden Hills compound, in California, which includes a 1,300-square-foot (120 square-metre) mansion, for US$12 million.
Over the years, Kylie has bought at least five other properties totalling more than US$40 million.
With all those properties, she definitely has the space to store all of her luxury cars.
Last July she was reported to have paid an estimated US$10,000 to ‘wrap’ her G-Wagon in an orange covering ‘just for the summer’ to match her US$400,000 Lamborghini Aventador
Since receiving a US$225,000 black Mercedes-Benz G-Wagon for her 16th birthday, Kylie has amassed a pretty impressive collection of luxury cars.
In July 2018 she was reported to have paid an estimated US$10,000 to “wrap” her G-Wagon in an orange covering “just for the summer” to match her US$400,000 Lamborghini Aventador.
For her 19th birthday, Kylie bought herself a one-of-a-kind Land Rover for US$200,000. Her car collection also includes a maroon G550 4x4 SUV, multiple Ferraris, a black Bentley Bentayga, and a number of Rolls-Royces, each worth six figures. And as an early birthday present, Kylie bought her mother a Ferrari 488 worth US$250,000.
Kylie definitely loves to spoil the people in her life.
For then-boyfriend Travis Scott’s birthday, she rented Six Flags Magic Mountain in Los Angeles – the cost of which starts at US$150,000. The birthday festivities continued in Turks and Caicos where the couple stayed at luxury beach resort Amanyara, where luxury suites cost up to US$23,538 per night.
Kylie has faced criticism for spending a lot of money on her daughter, Stormi. From buying a US$820 Gucci baby carrier to a US$12,500 Fendi baby stroller, Kylie seems keen to introduce the girl to luxury right away.
Yet considering Jenner gave birth at Cedars-Sinai Medical Centre in Los Angeles, where private birthing suites range from US$3,600 to US$5,100 a night, is that really a surprise?
During an online wardrobe tour, Kylie revealed her impressive bag collection. Her wardrobe includes an entire row of Hermès Birkin bags, one of the most expensive handbags in the world.
Asked what she would grab in the event of a fire, Kylie Jenner said she would choose a US$432,000 Hermès Himalayan crocodile skin Birkin bag with 18-carat white gold hardware and more than 200 diamonds
She already has a mini Birkin bag picked out to be Stormi’s first purse.
Asked what she would grab in the event of a fire, Kylie said she would choose a US$432,000 Hermès Himalayan crocodile skin Birkin bag with 18-carat white gold hardware and more than 200 diamonds.
Kylie's lavish accessory budget extends to her hair.
The make-up mogul is known for frequently transforming her locks with custom-made wigs created by hairstylist Tokyo Stylez, which can cost up to US$5,000 per wig.
Kylie is willing to pay a lot to look perfect. Her beauty budget includes US$30 for her favourite mink eyelashes from Lilly Lashes, US$350 spray tanning sessions at Jimmy Coco, and fresh manicures by Britney Tokyo, an LA-based manicurist who charges US$125 for a two-hour session and an additional US$50 for house calls.
The youngest Kardashian-Jenner certainly knows how to make waves, especially when it comes to expanding her cosmetics empire into a billion-dollar business.
As for whether Kylie Jenner will always be the youngest self-made billionaire ever, only time will tell.
This article originally appeared on Business Insider.