This just in:
Kylie Jenner is crazy rich.
What? You already knew that?
Okay, try this on for size in that case:
Kylie Jenner is HISTORICALLY rich.
The latest issue of Forbes states that Jenner has surpassed Facebook co-founder and CEO Mark Zuckerberg as the youngest self-made billionaire in history; he was 23 when he reached the billion dollar-mark as a result of creating this Presidential-election-swinging social media platform.
Is Jenner really self-made, however?
This is the debate that has now broken out across the Internet.
Ready to join in?!? Scroll down for more!
Forbes made it official in March of 2019: Kylie Jenner is the youngest self-made billionaire EVER.
Wait, Didn’t Kylie Already Earn This Honor?
Not officially, no. In July 2018, Jenner covered this same magazine, which teased that the $800 millionaire was “set” to earn this distinction.
Where Does She Rank Worldwide?
Jenner sits at number 2,057 on the list of 2,153 billionaires around the globe. She is the youngest person on this list.
“I didn’t expect anything. I did not foresee the future,” Jenner told Forbes. “But (the recognition) feels really good. That’s a nice pat on the back.”
How Did This Happen?
Forbes credits an exclusive distribution deal with Ulta for Kylie Cosmetics, whose revenue climbed 9% last year to an estimated $360 million.
Writes the Magazine:
With that kind of growth, and even using a conservative multiple from the booming makeup industry, Forbes estimates Jenner’s company is worth at least $900 million. She owns all of it. Add in the cash Jenner has already pulled from the profitable business, and the 21-year-old is now a billionaire, with an estimated fortune of $1 billion.
Jenner Has Built This Business Wisely
There’s very little overhead, for instance, meaning most of the profits go straight into Kylie’s pocket. Kylie’s beauty empire consists of just seven full-time and five part-time employees.
Kylie Does Most of Her Own Marketing
“It’s the power of social media,” says Jenner, who has amassed over 128 million Instagram followers. “I had such a strong reach before I was able to start anything.”
How Much Does Kris Jenner Make Off This?
Kris takes care of Kylie’s PR and finance and therefore makes 10% as her daughter’s manager. Not shabby!
Okay, But is Kylie Truly Self-Made?
Ah, yes, now we get to the crux of the debate. “I see [Kylie Cosmetics] going very far,” Jenner says. “I work really hard.”
Kim Rushes to Kylie’s Defense
This debate broke out last summer, prompting Kim Kardashian to shoot down critcs as follow: “You know, everyone has a team, I don’t care who you are. But when you don’t get it from someone else, that’s ‘self-made.'”
More from Kim:
“It’s not like that was handed to her,” Kim says of her half-sister’s fortune. “She figured that all out. I mean, we all have.”
Kris Also Chimes In
“She made her own money for over a decade, she put it in the bank, she saved every nickel,” Kris told Entertainment Tonight when this controversy broke out in July 2018. “And then, when she decided on what she wanted to do, she spent her money on a venture that could have gone south or north, and it did really well.”
Dictionary.com Even Entered the Fray Twitter Also Had Some Takes Give the Girl Some Credit! Yeah, Give Me Some Credit!
Said Kylie to Paper Magazine about this topic: My parents told me I needed to make my own money, it’s time to learn how to save and spend your own money, stuff like that. What I’m trying to say is I did have a platform, but none of my money is inherited.”
We Hate to Say This, But…
… we sort of agree. Did Kylie have major advantages in the business world due to her last name, her famous family members and the universe in which she was raised? Absolutely. But this is the case for nearly all billionaires.
We All Have Help Along the Way
And this is why the most patriotic thing one can do is pay taxes! In order to give back to the society that helped one get to where one is today, billionaire or not! Sorry. We digress.
Who Tops This List?
Jeff Bezos. The Amazon founder is worth $131 billion.
Microsoft founder Bill Gates is the strong runner-up with a net worth of $96.5 billion.
Business magnate Warren Buffett rounds out the top trio with a net worth of $82.5 billion.
So… Kylie Has a Long Way to Go
Yes, but she’s starting to sell setting powers on March 7, 2019. So she’s on her way!