It seems like only yesterday that the trolls were up in arms about Forbes‘s bold declaration that Kylie Jenner would soon obtain the status of the world’s youngest-ever self-made billionaire. In fact, it took the Kylie Cosmetics mogul less than six months to do so: On Tuesday, the magazine confirmed that Jenner had officially crossed over into 10-figure territory by the end of 2018.
According to Forbes, the mid-November launch of Kylie Cosmetics in Ulta stores around the country played a major role in giving Jenner the last push she needed to become the world’s current youngest billionaire (self-made or not). In just six weeks, the three-year-old company took in $54.5 million in sales from the partnership, helping Kylie Cosmetics’ overall value increase by 9 percent in 2018, to $360 million. Forbes therefore estimates that the company, of which Jenner is the sole owner, is conservatively worth about $900 million, which, added to the rest of Jenner’s other earnings, puts her personal fortune at $1 billion. Reminder: She just turned 21 in August. Mind you, this is all according to Forbes’s estimates and the perceived worth of her company, which is to say, Jenner does not have $1 billion in her bank account.
“I didn’t expect anything. I did not foresee the future,” Jenner told Forbes of achieving this milestone. “But [the recognition] feels really good. That’s a nice pat on the back.” She (and the magazine) attribute much of her company’s massive success to its low overhead costs: She employs only a handful of full-time employees and does nearly all of her marketing and promotion via her own Snapchat, Instagram, and Twitter feeds. “It’s the power of social media,” she said. “I had such a strong reach before I was able to start anything.”
Next up for Jenner and Kylie Cosmetics: She’s expanding her product range, introducing more of her existing products in Ulta stores, and definitely not considering selling her mega-profitable brand, no matter what her mom says. “I see [Kylie Cosmetics] going very far,” Jenner said. “I work really hard.”
Earlier this year, she addressed critics who have taken issue with her “self-made” status, saying in her Paper cover story that, despite her immense privilege, the label is “true,” since her parents “cut [her] off at the age of 15.” She explained, “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.”