In March 2019, Kylie took the title of youngest billionaire after signing a distribution deal with beauty retailer Ulta for the products. Kylie Cosmetics, which were only available online or in pop-up stores, to be sold. At the time, Forbes reported that the strategic move helped raise the estimated value of Kylie Cosmetics to “at least” $900 million, making its founder a billionaire.
The Kylie Cosmetics mogul made even more in November 2019, when she agreed to sell 51% of beauty brand Coty Inc. for US$600 million. The deal valued his business at around $1.2 billion.
But in May 2020, Forbes published an article saying that her team had “recalculated Kylie’s net worth and concluded that she is not a billionaire” but “a more realistic accounting of her personal fortune that would allow her to puts it at less than $900 million.” ,
Still, Kylie was undeterred by the revocation of her title, saying, “I can list a list of 100 things more important right now than deciding how much money I have.”
“I am blessed beyond my age”“I have a beautiful daughter, a successful business and doing absolutely fine,” she tweeted soon after the article was published.
Henry Lawson is a contributor at Sproutwired.com, covering a wide range of topics including news, politics, business, technology, sport, entertainment and lifestyle. He focuses on delivering clear, accurate and reader-friendly reporting that helps audiences stay informed about current affairs and important developments. With an emphasis on useful information and balanced coverage, Henry aims to highlight stories that matter most to readers, providing context and insight in a straightforward and accessible way.
