Kylie Jenner was once declared a billionaire primarily due to the success of her cosmetics company, Kylie Cosmetics. However, this status has been debated and is no longer consistently applied to her.
Here's a breakdown of the factors:
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Kylie Cosmetics' Valuation: The company achieved massive success, primarily driven by online marketing and social media influence. Coty Inc. acquired a 51% stake in Kylie Cosmetics in 2019, valuing the company at approximately \$1.2 billion. This initially placed Kylie Jenner's net worth at over \$1 billion, considering her remaining stake and other assets.
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Coty Deal and Re-evaluation: Following the Coty deal and subsequent financial scrutiny, Forbes magazine revised its estimate of Jenner's net worth. They alleged that figures regarding Kylie Cosmetics' profitability were inflated, and significantly lowered their valuation of the company and Jenner's wealth. Forbes no longer considers her a billionaire.
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Sources of Income: Besides Kylie Cosmetics, Jenner earns income from:
- Television Appearances: Featuring on reality TV shows like Keeping Up with the Kardashians.
- Endorsement Deals: Leveraging her massive social media following for endorsements with various brands.
- Real Estate Investments: Investing in properties.
In conclusion, while Kylie Jenner was initially declared a billionaire based on the estimated valuation of Kylie Cosmetics after the Coty deal, this assessment has been challenged, and she's no longer consistently referred to as such. Her wealth derives from a combination of her cosmetics business, television appearances, endorsements, and real estate.
