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Kylie Jenner Is Richer Than Kim Kardashian West Thanks to Kylie Cosmetics

Kylie Jenner Is Richer Than Kim Kardashian West Thanks to Kylie Cosmetics
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It’s official — Kylie Jenner is the richest self-made member of the Kardashian clan. The 20-year-old was ranked 27th on Forbes’s list of America’s Richest Self-Made Women, with an estimated net worth of $900 million. Her sister Kim, the Kardashian who started it all, was 54th with an estimated net worth of $350 million. Forbes estimates that with another year of growth, she’ll become the youngest billionaire ever, trumping Mark Zuckerberg.

The key to Kylie’s success is her cosmetics brand, Kylie Cosmetics, which she launched in November 2015. She owns 100 percent of the company, which is worth $800 million according to Forbes. It all started with a humble lip kit. Well, humble in the sense that it came from a member of the most recognizable family in pop culture. Regardless, Jenner is the youngest member on the list, which includes celebrities like Madonna and Beyoncé. Other beauty moguls on the list include Anastasia Beverly Hills founder Anastasia Soareand Huda Kattan of Huda Beauty.

Forbes defined a self-made woman as “anyone who didn’t inherit any part of their money,” according to WWD. Jenner’s fortune includes not only her cosmetics company — which has very few employees or marketing expenses — but also brand endorsements. Jenner mused in an interview with the magazine that maybe she’ll pass on the company to her newborn daughter, StormiForbes, for the record, thinks that Jenner’s current cosmetic venture will flame out before then. Jenner can celebrate with a glass of Champagne on August 10, when she turns 21.

The gold rush continues in California, where a select group of women entrepreneurs, entertainers and executives are striking it rich.

Twenty-seven people, almost half of Forbes’ fourth-annual list of America’s Richest Self-Made Women, have made the Golden State their home base. Among these Californians are makeup moguls, tech executives, and pop stars who are collectively worth $29.3 billion.

Fourteen listmakers — eight with tech fortunes — live in the Bay Area. They include Houzz founder and CEO Adi Tatarko, Oracle co-CEO Safra Catz, YouTube CEO Susan Wojcicki and venture capitalist Theresia Gouw. Sixteen live in Southern California, where beauty, entertainment and household names dominate, including Beyonce Knowles, Barbra Streisand and Oprah Winfrey.

No other state comes close. New York is a distant second, home to just six women on the list. And the windfall shows no signs of stopping: Six of the seven newcomers this year all hail from California, including Kim Kardashian West and her half-sister Kylie Jenner as well as Anne Wojcicki, cofounder of 23andme.

At $3.3 billion, longtime tech executive Meg Whitman is the richest Californian, replacing Oprah Winfrey who held the title for the last two years.  Whitman is one of ten in the state who made fortunes in the tech sector. Other C-suite executives include Facebook Chief Operating Officer Sheryl Sandberg with a fortune of $1.55 billion and former Yahoo CEO Marissa Mayer, worth $600 million, who recently launched tech incubator Yumi Labs.

A notable tech newcomer is Therese Tucker, founder and CEO of enterprise accounting-automation software company BlackLine. Tucker, who started BlackLine in 2001, initially cashed out her retirement savings to fund the business and grew it into a $2.6 billion (market cap) company. Tucker has an 11% stake in the company, edging her net worth to $380 million. She is one of two founders of tech companies in the ranks. All the rest are high ranking executives or investors. The Los Angeles resident is also the only Californian in tech who doesnot call Silicon Valley her home.

Eleven of the Californians are billionaires, five more than last year. Among the new billionaires are Jayshree Ullal, CEO of computer networking firm Arista Networks, who became a billionaire this year (she’s now worth $1.35 billion) after shares of Arista Networks soared 72% in the last twelve months. Other new billionaires include dermatologists-turned-skin care moguls Kathy Fields and Katie Rodan, whose fortunes have more than doubled in the last year, following a 50% jump in 2017 revenue for their skincare firm, Rodan + Fields; and the purchase of a minority stake in June by private equity firm TPG.

Kylie Jenner Makeup mogul Anastasia Soare appears on the list for the first time with a billion-dollar fortune thanks to eyebrow products from her company Anastasia Beverly Hills, which are used by the likes of Cindy Crawford and Naomi Campbell. Soare is one of three new beauty entrepreneurs on the list who are based in California and who have tapped social media to build up the business. Kylie Jenner, at 20 years old (she will turn 21 in August) with a net worth of $900 million, is the youngest but richest member of the Kardashian-Jenner clan thanks to Kylie Cosmetics, a fast-growing beauty line known for its lip kits (lipstick and a matching lip liner). While other beauty companies spend millions on marketing campaigns and strategies, Jenner, with over 110 million Instagram followers (and counting), can achieve the best kind of advertising for free. Following in her footsteps, older half sister Kim Kardashian West (114 million Instagram followers) also launched her own cosmetics company, KKW Beauty. It has generated an estimated $100 million in sales since June 2017 with a focus on contouring kits and perfumes, helping push Kardashian West’s net worth to $350 million.

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