Unless you live under a rock, you probably know who Kylie Jenner is. Named the world’s youngest self-made billionaire in March 2019, (then 21-year-old) Kylie Jenner's net worth was skyrocketing. This social media star took advantage of her following and started a successful business. She entertains her millions of followers and grows her net worth with photos of her luxury cars, private jets, and flawless body.
And yet, as Forbes and other news outlets reported in May 2020, that billionaire story was a web of lies.
We’re here to share a timeline of how and why her wealth grew large enough that the story of her billionaire status was credible. Plus, what happened to dethrone her when the truth came out.
Kylie Jenner Net Worth: (estimated) $900 million
It takes a significant event to stop the presses. But it takes even more for a high-profile publication like Forbes to retract a cover story. Forbes was among the first to report Kylie's achievement of billionaire status. But as it turns out, there were behind the scenes machinations underway.
According to a report by Forbes:
The Jenners offered us their own number: 2017 revenues were up 7%, they said, to $330 million. “No other influencer has ever gotten to the volume or had the rabid fans and consistency that Kylie has had for the last two and a half years,” an executive at e-commerce platform Shopify, which manages Kylie’s online store, told Forbes at the time. Based on her rapid success—certified by industry sources, plus those 2016 tax returns—Kylie appeared on the cover of Forbes magazine in July 2018, ranking No. 27 on our listing of the richest self-made women. At age 20, she was worth $900 million, we estimated, and would soon become the youngest self-made billionaire ever.
“Thank you for this article and the recognition,” Kylie Instagrammed. Kim Kardashian West tweeted her congratulations—twice. “I am SO proud,” Kris Jenner wrote, finally pleased.
Kylie Jenner is still the richest, by far. Kim Kardashian comes in second. Even so, Kylie's net worth is still about three times that of Kim's.
On our #TheOnePercent podcast episode from March 2019, the topic of Kylie Jenner becoming the youngest billionaire came about. We discussed her business strategy and more – check it out below!
Even at a young age, Kylie’s life was never considered normal. She was born in Los Angeles and is the daughter of 1976 Summer Olympics decathlon winner Bruce Jenner (now known as Caitlyn Jenner). Kylie has an older sister, as well as four half-siblings on her mom’s side.
She went to Sierra Canyon School (a private high school) for a year but became homeschooled soon after. Her family’s reality TV show, Keeping Up With the Kardashians, started when she was just 9. It soon became popular and she was always in the spotlight.
It’s a simple fact that the Kardashians are filthy rich. However, it’s surprising to hear how much richer Kylie is than her sisters! Even when comparing her net worth with other young celebrities and stars, she blows them out of the water.
Other Rich, Young Celebrities
Even before starting her own business, Kylie had profits coming in from ads on her social media accounts and reality TV paychecks. Her family’s show, Keeping Up with the Kardashians, pays each of the stars about $4.5 million per season. The family members who are producers get a bit more than Kylie and Kendall do, as they are just cast members.
Kylie also had a spin-off reality show of her own! Life of Kylie was an eight-episode show that premiered in August of 2017 but was canceled soon later.
Kylie’s Instagram is also a good source of income for this social media mogul – 209 million followers will do the trick. Sources state that a sponsored post on her account costs $1 million. In addition, her Twitter account has nearly 30 million followers.
Kylie Jenner also does some modeling. In 2016, she was announced to be the new face of PUMA (along with Rae Sremmurd). You’ll find her face on the front of plenty of top fashion and business magazines.
Kylie always loved makeup. It’s no surprise she started her own cosmetics company!
Kylie Jenner’s makeup line is the main contributor to her huge growth in wealth and net worth. Kylie Cosmetics was created in 2015 and grew to a 7 figure business in just four years. She sold 51% of her company to Coty in a deal valued at $1.2 billion in January 2020.
To start out, she invested $250,000 in it to produce the first 15,000 products. She started selling exclusive Kylie Lip Kits for $29, which came with a lip liner pencil and liquid lipstick. Over time, they slowly began to branch out to other products. They now sell a wide variety of products including eyeshadow palettes, highlighters, lip glosses, eyebrow kits, face palettes, and bundles.
Kylie Cosmetics launched a “Kylie Skin” line in May 2019.
In the first 18 months, the company generated $420 million in revenue. Kylie Jenner’s net worth soon saw a huge burst as the company grew. Aside from the founder being one of the largest social media influencers, Kylie Cosmetics has done so well due to the exclusivity.
When she first began, she only sold lip kits and released them spontaneously for her social media followers. The demand was incredibly high – they sold out within minutes. The first lip kits sold out in under one minute. Many people were re-selling them for double the price on eBay. During one release, the huge spike in traffic broke Google Analytics!
Now, her signature products are mostly stocked up. They were primarily an ecommerce business (other than the rare pop-up shop) until they recently got into Ulta. During the first week in Ulta, they sold almost $55 million. Kylie Cosmetics also releases exclusive holiday collections that sell out quickly.
When it comes to Kylie Jenner’s net worth, Forbes retracted their story of her billionaire status and now estimates her net worth at $900 million.
Many contemplate if Kylie is truly “self-made” since she grew up in fame and fortune. Would she have been successful otherwise? We think so. Kylie definitely had an advantage, but she knows how to be an entrepreneur and turn her advantage into gold. She leveraged her social media following to create an incredibly successful business!
Just look at the net worth of her family members. Kylie is worth nearly three times Kim Kardashian’s net worth, the second richest person in the family (and Kim is nearly 40).
In 2013, Kylie teamed up with Kendall (her sister) to release their first exclusive clothing collection for Pacsun. Their collaboration still exists and new collections are released every season. They continued to release Kendall + Kylie collections with various companies including Topshop, Nordstrom, and Revolve.
In 2017, Kylie also collaborated with Quay Australia to release a line of sunglasses, Quay x Kylie.
Not only does Kylie Jenner already have a billion dollars, but she has already started a family. If you dream of having kids, why not start early when you’re a billionaire?
Kylie Jenner’s baby daughter Stormi was born on February 1, 2018. Travis Scott is the father. Her pregnancy shocked millions of fans – nobody knew until after she gave birth! There was plenty of speculation, however.
Kylie has had two serious relationships in the last few years. Her first was Tyga, who she dated from age 17–19. Kylie Jenner’s age may have had to do with their breakup. He was eight years older than her, which is a lot when you’re still a teenager!
After their breakup in 2017, Kylie met Travis Scott at Coachella and they instantly fell for each other. They were so hooked that she simply jetted off to join Travis on the rest of his tour! Sounds like a pretty spectacular first date.
Travis Scott is also the father of Stormi. There are rumors of their engagement due to Kylie’s glamorous ring (there are cheating rumors too, so who knows).
She also dated Jaden Smith for a short period when she was 15.
Kylie’s Instagram is filled with photos of her in a thousand dollar outfit, playing with her gorgeous friends, standing by a luxurious car, spending time with her baby, or inside one of her glamorous homes. The world is her playground.
In the last four years, Kylie has bought a variety of properties for herself. We’re surprised she hasn’t indulged in more considering the high net worth of Kylie Jenner!
We’ll start from the newest purchases to the oldest.
It seems like Kylie is flashing a new, luxury car every week. A recent picture showcases her with six different cars! We’re not sure if all of them belong to her, but we wouldn’t be surprised. Kylie Jenner’s net worth in 2020 is $900 million. She’s only 23, so we can only imagine her car portfolio growing.
The photo features two shades of Range Rovers, a Rolls Royce, a Porsche, a Lamborghini, and a Ferrari. She also has two other Rolls Royce cars – one is vintage and was gifted to her by Travis Scott.
Not only does she buy cars for herself, but Kylie gave her mother a $250,000 Ferrari for her birthday in 2018. She also gifted her ex-boyfriend Tyga a Bentley.
Another glance at Kylie’s IG will show her lavish outfits and expensive trips. Her arm candy and rings often add up to $10,000+ worth. These are some of Kylie’s signature outfits, pieces, and other lifestyle purchases. Even with these crazy purchases, Kylie Jenner’s net worth still remains incredibly high.
Overall, Kylie Jenner used her social media power to create a makeup empire. Although she had an advantage from being born into a rich and famous family, she was able to leverage this to become much richer than all of her family members. As a 21-year-old billionaire with an incredibly successful company, Kylie Jenner’s net worth is only going to keep growing!
So, one reason so many people love reading articles like this - about people who've created massive, life-altering wealth - is curiosity. We want to know how'd they get so rich? What are they doing with all that money? What's their life like? It's almost as if there's this invisible wall we want to peer over, to see how "the other half" lives. It's as if the ultra-rich have secrets most people don't know. They DO! And that's good news, actually, because we can all learn them. Once we begin learning what they know, we can do what they did, and create the kind of life most people only wish they had. If you've got that same curiosity about "the other half" you should check this out.