Kylie Jenner, the daughter of Caitlyn and Kris Jenner, has been heralded as the youngest “self-made” billionaire in history. As a result, collective confusion as to the meaning of “self-made” has arisen.
Indeed, Forbes ran a piece Tuesday chronicling the 21-year-old’s continued success with her Kylie Cosmetics brand and how its Ulta distribution deal has given the lip kits empire a boost to the next level of commerce. In the piece, Jenner—whose net worth is claimed to be approximately $1 billion—is touted as “the youngest-ever self-made billionaire, reaching a ten-figure fortune at a younger age than even Mark Zuckerberg.”
Kylie Cosmetics reportedly saw a nine percent increase in 2018 for a final annual revenue of $360 million, a figure the Forbes article cites as part of its value assessment of the company. By their estimate, Kylie Cosmetics—owned solely by Jenner—is worth “at least” $900 million. The billion-dollar mark comes from adding in previous estimated profits, i.e. the money she made when the lip kits were only available online.
Forbes‘ “self-made billionaire” claim, as stated up top, has been called into question due in part to the meaning of “self-made.” Most notably, a literal dictionary took to the tweets to point out this discrepancy:
Also worth noting is the fact that these billionaire-related headlines arrive in the wake of tabloid reports aimed at her and Travis Scott, who recently (albeit briefly) deactivated his Instagram to allegedly “prove his commitment” to the relationship.
Previous reports of Jenner’s wealth have also been met with skepticism. Back in January, Nick Cannon expressed hesitance at believing that Jenner’s worth surpassed that of JAY-Z. Speaking on Jenner’s Forbes list placement, a tie position at numbers 4 and 5 with JAY, Cannon characterized such rankings as mere publicity stunts.
“At this point, I don’t think JAY-Z’s publicist has to pitch him for Forbes,” he told DJ Vlad at the time. “But Kylie, I feel some spinning there. I’m not necessarily rocking. Somebody’s publicist made a call and they know the attention she be getting.”
source: complex.com BY TRACE WILLIAM COWEN