Kylie Jenner Has Several Other Young Billionaires to Thank for Her Success
(Bloomberg) -- Like many women her age, Kylie Jenner is active on social media. But she's done one thing that no one else has: build a billion-dollar fortune by age 21.
Jenner is the youngest person to become a billionaire with her own company, Kylie Cosmetics, and she has several other young billionaires to thank.
“The business would not exist at its current size without social media,” said Conor Begley, co-founder of brand-marketing company Tribe Dynamics.
See also: Kylie Jenner becomes world's youngest self-made billionaire
Instagram co-founder Kevin Systrom, Snapchat co-founder Evan Spiegel, Facebook co-founder Mark Zuckerberg and Twitter co-founder Jack Dorsey are all billionaires younger than 45.
Each of Jenner's Instagram posts is worth about $1 million, according to Hopper HQ, a social media scheduler. Jenner's posts include family photos and mirror selfies, in addition to new product announcements or promotions for blush, lip gloss and eye shadow. Jenner has 128 million followers on Instagram, and plenty of others on Twitter, Facebook and Snapchat.
“She's a unique case in that she has a massive, massive audience,” Begley said. “That can be replicated for sure.”
Take Rihanna (68.3 million Instagram followers), whose Fenty Beauty has partnered with luxury-goods powerhouse LVMH, and Huda Kattan (33.6 million followers), who left a finance job to become a makeup artist. She founded Huda Beauty with her sisters in 2013 after her makeup blog became popular. The company now has $200 million in annual revenue, according to Begley.
“What you find consistently across the successful celebrity brands is a deep passion and authenticity by the celebrity for the creation of the products themselves,” Begley said. “Kylie is very active in the development of her products and can show her fans that process, day-to-day, through Instagram. That level of visibility and commitment makes her fans significantly more likely to support her.”
To contact the reporter on this story: Sophie Alexander in New York at salexander82@bloomberg.net
To contact the editors responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net, Peter Eichenbaum, Steven Crabill
©2019 Bloomberg L.P.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
