On August 10, 1997, in Los Angeles, California, Kylie Jenner was born. Kris Jenner, a businesswoman, and Bruce Jenner, a former Olympic athlete, had her as their youngest child (who is known today as Caitlyn Jenner). Kendall Jenner, a model, is Kylie’s older sister, while Kim Kardashian, Kourtney, Khloe, and Brody Jenner are her half-siblings. When Keeping Up with the Kardashians debuted on E! on October 14, 2007, Kylie was just 10 years old. Currently, the US’s longest-running reality series is KUWTK. For a few of the first seasons of the show, Kylie was a typical pre-teen who went to school and participated in the cheerleading squad. She stopped attending formal school in 2012 and started a home-schooling program. In July 2015, she received her high school diploma.
Is Kylie Jenner A Billionaire?
Kylie Jenner was named a billionaire by Forbes on November 18, 2019. According to Forbes, she became a millionaire after selling Coty Inc. 51% of her cosmetics business for $600 million, valuing the business as a whole at $1.2 billion. The formerly faltering beauty company Coty Inc. is the owner of names including CoverGirl and MaxFactor. The brand’s public face will continue to be Kylie. According to Forbes, on paper, the deal valued her remaining 49% ownership at $588 million. In recent years, Coty has battled with declining income and high CEO turnover. Coty is the parent company of Clairol and OPI nail paint. The stock price of the European company, which was purchased from Procter & Gamble in 2016 and is owned by the investment company JAB Ltd., has been cut in half since that time. She managed to persuade Coty Inc. to pay a staggering 27X multiple of profits in order for the company to be valued at $1.2 billion.
Remember that Facebook is currently trading at 26X profits. Trading for Procter & Gamble is 24X. The share price of Coty is 18X profits. Kylie will probably only have about $300 million after paying taxes on the $600 million share of the deal. We are unable to say for sure at this time because it is unclear how the $600 million has been set up. Was all of it cash? Stock? a combination of both? These inquiries have significant effects on how she will be taxed and, eventually, how much money she will finally receive from the deal. Additionally, Coty doesn’t anticipate the acquisition to be finalized until the third quarter of 2020. Forbes published a retraction post on May 29, 2020, in which they acknowledge that all the data they had previously given was incorrect. made up entirely by Kylie’s accountants.
Wealth Estimates
According to a 2018 Forbes article, Kylie’s cosmetics brand is worth $800 million. According to the publication, Kylie’s business made $307 million in revenue in 2016 and $330 million with a profit of $100 million in 2017. Additionally, the paper noted that Kylie Cosmetics’ sales had not been rising. In actuality, total revenue increased by only 7% in 2017 and was $70 million less than expected at the halfway point of the year. Additionally, her lip-kit sales were actually down 35% from the previous year. 4x profits, which would have valued the company at $400 million overall, in our judgment, would have been a far more realistic multiple at the time. She would have received almost $260 million after taxes from a sale as the 100% owner.
As a result, we believed Kylie’s net worth in July 2018 to be between $300 and $400 million. Inside Kylie Jenner’s Web of Lies – And Why She’s No Longer a Billionaire” is the title of a retraction piece that Forbes was compelled to publish on May 29, 2020. Forbes ultimately acknowledges in that piece that all of their information was incorrect. all of it. All of their magazine covers and headlines were founded on outright fabrications or lies. According to the Forbes retractions from May 2020, “Then there were Kylie’s financials. Revenues for the 12 months prior to the deal: The Coty presentation said $177 million, which was significantly less than the at-the-time publicized predictions. Further complicating matters, Coty reported a 40% increase in sales from 2018, which means the company only made approximately $125 million in revenue that year rather than the $360 million the Jenners had misled Forbes to expect. According to Kylie’s representatives, her skin care line, which debuted in May 2019, generated $100 million in sales in its first six weeks. In fact, according to the documents, the line was “on course” to end the year with only $25 million in sales.
According to data from the e-commerce company Rakuten, which monitors a small number of receipts, Kylie’s online sales fell by 62% between 2016 and 2018, according to Forbes.
And: “The Jenners have misled about the size of the company every year since 2016 in order to inflate Forbes’ estimations of Kylie Jenner’s profits and net worth, including having their accountant prepare tax filings with fictitious figures. Kylie’s camp has been lying, even though we can’t prove that those documents were phony (but it’s probable).”
Coty Sale
Despite everything, Kylie still made a ton of money from her sale to Coty. Even though, Forbes acknowledged in their retraction that Kylie did not possess a complete 100% of the business at the time of sale. It appears that Kris Jenner had at least 10% of the business. Kylie sold a portion of her 90% interest for $1.2 billion. Kylie would have gotten about $340 million in post-tax cash from the acquisition if it had been an all-cash transaction, and she would still have held a 45% paper share in the company.
Sadly for Kylie and Coty, the transaction hasn’t exactly helped the stock price of the parent firm. Coty’s shares dropped 60% in the six months after the acquisition, at least partially as a result of the revelation that it spent far too much for Kylie Cosmetics and will probably have to write down the brand’s worth. That will undoubtedly lower Kylie’s remaining 45%’s paper worth. A chart of Coty’s shares from May 2019 to May 2020 is shown below:
Investors estimate that the company’s current market valuation is $2.8 billion. That sums up the combined worth of a large number of brands, including Kylie Cosmetics, which, as we reported, has never been worth anywhere close to $1.2 billion. Coty would probably soon have to write off a sizable portion of the Kylie brand, making Jenner’s remaining 45% interest worthless.
Early Career Success and Endorsements
With the success of the Sears apparel line “Crush Your Style,” Kylie Jenner’s modeling career took off. Additionally, she has appeared in a number of picture sessions for magazines like OK! Magazine and Teen Vogue. In September 2011, Kylie Jenner made her runway debut at New York Fashion Week. In the front row, the family members supported their younger sister during the tense situation. This little princess may have been anxious, but she didn’t let it show as she strolled down the runway wearing a black dress with a ballerina-style silhouette designed by Abbey Dawn.
Jenner obtained modeling assignments for numerous businesses, including Australian swimsuit brand White Sands, following in the footsteps of her older sister Kendall. In 2010, Jenner and her older sister were both highlighted in Individuals magazine’s article on attractive people. In Los Angeles, Kylie and Kendall hosted red carpet festivities for The Twilight Saga: Breaking Dawn and Glee: The 3D Concert Movie. At the March 12 premiere of The Hunger Games, they also conducted an interview in the Bing Box. In 2013, Kylie and Kendall each received $100,000 for their support of the Nicole by OPI nail polish line. Rebels: City of Indra, a science fiction book by Kylie and Kendall, is about two girls with superpowers going on an adventure.
Kylie finally made her acting debut in a trailer for the 2014 Much Music Video Awards, which she co-hosted with Kendall. Kylie debuted a collection of handbags for Steve Madden in 2014. She was named the Nip + Fab skincare brand’s ambassador in March 2015. In collaboration with the British apparel company Topshop, Kylie and Kendall debuted their clothing line in June 2015. Kylie was introduced as the new face of PUMA in 2016. 2017 saw the debut of Kylie’s eyewear collection with Quay Australia, an Australian business.
Kylie Cosmetics
Kylie’s massive personal wealth is a result of her successful cosmetics business. In August 2015, she launched her first range of lipsticks. The “Kylie Lip Kit” became popular right away. In September 2015, she unveiled a customised website and app.
Kylie Jenner Real Estate
Kylie Jenner has acquired and sold a number of homes in Southern California over the years. At least FIVE mansions in Southern California are currently hers. In Calabasas, Kylie acquired her first house at the age of just 17. The Oaks, a private gated neighborhood in Calabasas, California, is where the $2.7 million property is situated. In 2017, she flogged this house for $3.15 million.
Hidden Hills:
In Hidden Hills, California, Kylie currently resides in an eight-bedroom, eleven-bathroom Cape Code house. She paid $12 million for this mansion in 2016. There are eight bedrooms and eleven bathrooms in the 13,000 square foot house. In Hidden Hills, California, Kylie spent $15 million in May 2020 for an empty site. She then commissioned Richard Landry, a renowned architect, to design an 18,000 square foot home.
Kylie purchased her first property in Hidden Hills for $6 million in May 2016. The stunning estate, which sits on roughly 4.5 acres of ground, has six bedrooms and seven baths. After that, she eventually purchased the vacant lot right next door. She sold the mansion for $6.7 million and the vacant lot for $5.35 million in September 2018. Here is a drone video taken above this house:
Beverly Hills: In October 2018, Kylie and Travis Scott co-acquired a home in Beverly Hills, Ca for $13.45 million.
La Quinta: In February 2019 Kylie paid $3.25 million for an undeveloped plot of land in La Quinta, Ca, within the exclusive Madison Club gated community where several of her family members also own homes.
Holmby Hills: In April 2020, Kylie paid $36.5 million for a mansion in Holmby Hills, Ca.
Monthly Expenses
It has been reported by a source close to Kris Jenner that Kyle spends $300,000 per month on clothes for herself and her daughter. She also reportedly spends $300-400,000 per MONTH on cars payments and security.
The property’s we previously mentioned were acquired for a combined $80 million over various transactions. In California, her annual property tax bill is roughly 1% of purchase price. That means on an annual basis Kylie owes the state of California around $800,000 in property taxes, roughly $67k per month.
Private Jet + “Climate Criminal”
Kylie reportedly spent $72 million on a Global Express private jet. She has not been shy in using the jet, even for criminally short flights. In July 2022 Kylie earned the nickname “Climate Criminal” after it was revealed that she had used her private jet to fly from Van Nuys to Camarillo, California, a trip that could have taken a half hour by car and only took about 12 minutes by flight. Around the same time she was shamed as “classless” after posting on social media a photo with her boyfriend Travis Scott standing in front of two private jets with the caption “You wanna take mine or yours?”.
Critics have been especially harsh considering Kylie’s purported image as an eco-crusader.
Personal Life
Kylie first started dating rapper Travis Scott in 2017. They welcomed a daughter in February 2018. They started living apart in mid-2019. She had previously been in a relationship with rapper Tyga between 2014 and 2017.
