Most recently, Kylie Jenner became the first woman to hit 300 followers on Instagram. However, Kim Kardashian stays the richest woman among the Kardashian sisters at $1.4 billion. Kim is followed by her sister Kylie Jenner in terms of wealth!
Jenner’s net worth was estimated at $1 billion in 2019 and currently stands at $700 million. The downfall came as a result of the Covid-19 pandemic. From being a preteen on “Keeping up with the Kardashians” to a mother of two, to being a cosmetic entrepreneur, the 24-year old star has made a fortune for herself.
Kylie Jenner Net worth: Annual income and other sources
Kylie started her career from home. She starred in “Keeping up with the Kardashians” at the tender age of 10. Today, she owns a cosmetic brand called “Kylie Cosmetics” and continues to star in music videos and reality shows. Her major source of income comes from:
- Early collaboration with clothing brands like PacSun
- The clothing line, “Kendall and Kylie”:
- Cosmetics line “Kylie Lip Kits, now “Kylie Cosmetics”
- Recently launched fragrance line “Kylie Skin”
- A mobile app called Kendall and Kylie (reached no. 1 on the iTunes App store)
- Investments in real estate
- Reality shows and music videos
- 10% manager’s fee on her kids’ projects like “Kylie Baby”
Kylie Cosmetics generated around $177m between October 2018 and October 2019. Kylie sold 51% of “Kylie Cosmetics” to Coty Inc for $600m in November 2019. She earned roughly $340m after taxes from the sale. And do you know, she also co-authored a science fiction novel with her sister Kendall. This book sold only 13,000 copies in its first four months due to mass criticism.
Kylie also purchased some of the most exclusive properties in the year 2020 including the Holmby Hills, Ca mansion (paid $36.5 million) and a vacant lot in Hidden Hills, Ca (paid $15 million) along with a separate mansion in Hidden Hills ($12 million).
The flipper queen
Kylie loves investing in properties and then flipping them for a much higher price. At 17, Kylie bought her first home (2015), 5000-square-foot home in Calabasas at $2.6 million, and flipped it in 2017 for $3.15 million.
Kylie already owned her second home ($6 million) in Hidden Hills, Ca. She bought the place next door to use as her office. She paid $4.5 million for that one, and in 2017, she sold both properties for $12 million. I must say, not a bad deal at all.
Forbes revelations about Kylie
Kylie was anointed by Forbes as the “youngest self-made billionaire” in the world in 2018. However, the magazine recalculated her income in May 2020 and claimed that Kylie and Kris had provided false information about their wealth. The duo was accused of forging tax documents. Kylie Jenner topped the Forbes List of Highest-Paid Celebrities in 2020 despite these accusations.
The Forbes article “Inside Kylie Jenner’s Web of Lies-Why she’s No Longer a Billionaire”, stated:
“Then there were Kylie’s financials. Revenues over 12 months preceding the deal: $177 million, according to the Coty presentation—far lower than the published estimates at the time. More problematic, Coty said that sales were up 40% from 2018, meaning the business only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe. Kylie’s skincare line, which launched in May 2019, did $100 million in revenues in its first month and a half, Kylie’s reps told us. The filings show the line was actually “on track” to finish the year with just $25 million in sales.”
Kylie made a comeback with a tweet that said, “What am I even waking up to…I never asked for a title or tried to lie my way there EVER. PERIOD.” No matter what, Kylie is one of the richest Kardashians.
The Philanthropic side of Kylie
Kylie Jenner doesn’t mind spending for social causes. Well, she earns a lot, and donations keep her in the good books of many. She auctioned old clothing to raise money for “Children’s Hospital Los Angeles” Later, she appeared in a charity bowling game for raising money for “The Robin Hood Foundation” in 2014 alongside her sister.
In 2015, Kylie distributed Christmas gifts to the Los Angeles Teen Center. In 2017, she donated $10,000 to Jordyn Woods for his father’s memorial cost after he passed away from cancer. She also donated $50,000 in the same year to “Teen Cancer America”
Jenner is currently an ambassador for Smile Train (donated $159,500), a charity that funds surgery for kids left with palates and cleft lips. In 2020, she gave $1 million to give organizations in Australia to tackle bushfires. She was seen alongside her mother making commendable donations during the Covid-19 pandemic.
I think she got the compassionate side from her late father Caitlyn Jenner (born “William Bruce Jenner”), who was a retired Olympic gold-medal winning decathlete.
What’s her current wealth?
Kylie’s major paper wealth comes from her cosmetic brand “Kylie Cosmetics”, and her net worth stands at $700 million. And yes, even after selling 51% of this brand to Coty Inc, she still remains the mastermind for marketing and product development.
Interestingly, the self-proclaimed “momager” charges a 10% manager’s fee for all her kid’s projects. This makes her worth $170-$190 million keeping aside her wealth from other sources.
Well, she really is in a position to lend loans to her other family members, just in case. What do you think?