Kylie Jenneris responding to critics who say she’s not “self-made.”
In a new cover story forPAPERMagazine, Jenner, 21, opened up about her finances — and responded to the backlash over herForbescover last summer.
In July 2018, the makeup mogul was named one of America’srichest self-made women— with many wondering if “self-made” could apply to someone from a wealthy family likethe Kardashians.
To set the record straight, Jenner toldPAPERthat her parents,KrisandCaitlyn Jenner, “cut her off at the age of 15.”
“I had such a huge platform, I had so many followers already and I had so many people watching me,” Jenner said, adding that “the self-made thing is true.”
“My parents told me I needed to make my own money, it’s time to learn how to save and spend your own money, stuff like that,” she said. “What I’m trying to say is I did have a platform, but none of my money is inherited.”
As seenKeeping Up with the Kardashians, she stilllived with mom Krisuntil she turned 18, buying a $2.7 million Calabasas mansion in 2015. At the time, Jenner toldInStyle U.K.that Kris had stopped funding her lifestyle three years earlier, though a source told PEOPLE, “getting cut off ismore of a technicality.”
“She had a refrigerator full of food and all the luxuries that come with [living with] Mom but unless it was a gift, if she wanted a new Chanel bag, Kylie was the one paying for it,” the source said.
Of creating her makeup company, Kylie Cosmetics, Jenner toldPAPERthat she “followed her heart.”
“I just knew for myself as a customer, like, why am I buying a lip liner and a different lipstick? I wanted it the same color, I wanted it to be easy,” she told the magazine. “And I really spent every last dime that I had starting it, not even knowing if it would be successful.”
Kylie Jenneron the cover ofPAPERMagazine.Morelli Brothers/PAPER Magazine
Jenner, who’s surpassed older sisterKim Kardashian Westas the most profitable member of the family, turned her idea to launch lip kits into a $900 million business in the span of two years. And if she maintains the same pace,Forbespredicted in July that she was likely to surpass Facebook’s Mark Zuckerberg as the youngest self-made billionaire ever, male or female.
Forbesreportedthat Kylie Cosmetics has sold more than $630 million worth of makeup since its initial launch, which includes an estimated $330 million in 2017 alone. Combining all of the mogul’s profits,Forbesestimated the brand alone, which Jenner maintains sole ownership of, is worth nearly $800 million
Outside of Kylie Cosmetics, Jenner makes money through product endorsements (she’sdone sponsored postsfor Fit Tea Wraps,waist trainer company Waist Gang Societyand more),Keeping Up with the Kardashians, the Kendall + Kylie clothing line and her Puma deal. In the July story,Forbes“conservatively” estimated the star is worth $900 million.
source: people.com
