Forbes Magazine have claimed that Kylie Jenner is set to become the youngest-ever self-made billionaire – but a lot of people don’t agree.
The mother-of-one, who will turn 21 on August 10, graced the front cover of Forbes for their America’s Women Billionaires issue this week.
Alongside a powerful image of Kylie, the front cover declared, “At 21, she’s set to be the youngest-ever self-made billionaire. Welcome to the era of extreme fame leverage.”
After the cover appeared online, critics immediately took to social media to call out Forbes’ definition of “self-made”.
One person tweeted, “‘Self-made’? Really? It’s easy to become a billionaire when you’re parents are millionaires…It’s called generational wealth + nepotism. Try Oprah Winfrey, who was raised on a small Mississippi farm by her grandmother, for self-made.”
Another wrote, “Calling Kylie Jenner a ‘self-made billionaire’ is like claiming you made soup from scratch because you opened a can and reheated it.”
A third person commented, “Calling Kylie Jenner self-made without acknowledging anywhere the incredible headstart she had is what allows people to turn around and look at poor people and ask them why they haven’t become billionaires yet. Her story is not inspiring or motivating for anyone.”
Calling Kylie Jenner self-made without acknowledging anywhere the incredible headstart she had is what allows people to turn around and look at poor people and ask them why they haven’t become billionaires yet. Her story is not inspiring or motivating for anyone https://t.co/YMnTSzHlKP
— Lola (@lola_adewuya) July 11, 2018
ah yes, kylie jenner, self made rich woman. how could you not love her backstory. being born to a lower class family, working menial jobs to make ends meet. finally getting her big break when her sister made a sex tape that turned into a reality show. you go, girl!
— Collin Duddy (@LoboExplosivo) July 11, 2018
“Kylie Jenner” being put on the Forbes cover and called “self made” is laughable….really? Someone born into one of the wealthiest families in America is self made? Must be two “self mades”
— MS.LOULOU (@MsJazzybelle) July 11, 2018
calling kylie jenner a ‘self-made billionaire’ is like claiming you made soup from scratch because you opened a can and reheated it.
— gulab jamun (@PedestrianPoet) July 11, 2018
Whether you agree with the term “self-made” or not, Kylie’s beauty brand Kylie Cosmetics has raked in $630million since it launched in 2015.
Forbes wrote, “Even using a conservative multiple, and applying our standard 20% discount, Forbes values her company, which has since added other cosmetics like eye shadow and concealer, at nearly $800 million. Jenner owns 100% of it.”
“Add to that the millions she’s earned from TV programs and endorsing products like Puma shoes and PacSun clothing, and $60 million in estimated after-tax dividends she’s taken from her company, and she’s conservatively worth $900 million, which along with her age makes her the youngest person on the fourth annual ranking of America’s Richest Self-Made Women.”
The 20-year-old employs seven full-time and five part-time employees at her company, outsourcing production and sales.
A lot has changed for the reality star in the last year, as she welcomed her first child Stormi with boyfriend Travis Scott in February.
And luckily for Stormi, Kylie wants her five-month-old daughter to inherit her business one day.
She told Forbes, “Maybe one day [I’ll] pass this on to Stormi. If she’s into it.”
While Kylie wants to keep her Kylie Cosmetics brand “forever”, momager Kris wants to keep their options open, as the 62-year-old said selling the company is “always something that we’re willing to explore.”
As with all of her kids, Kris pockets 10 per cent of Kylie’s earnings – which means last year alone, Kylie paid her mum a whopping $17million.