Recent news had announced that Kylie Jenner has officially become the world’s youngest billionaire. There has been much debate and no shortage of hate over the fact that she isn’t considered “self-made”, considering her given platform and her ‘less-than-humble’ beginnings.
Let’s get something clear. That hate is absolutely been misdirected and unconventional.
Being raised in front of the media – the family including Kylie has been subjected to unauthorized exposure into her personal life and media scrutiny. So, when she achieved success, there were a million more individuals telling her that she didn’t “earn” or “deserve the success”. But guess what? Kylie paid their dues, whether you like it or not.
In 2015, Kylie Jenner was worth $5 million. Four years later, her value skyrocketed to $1 billion, making her the youngest billionaire. The public’s next criticism will be her family’s riches – but that wasn’t the case. Yes, she had a platform and that served as an advantage for her growth, but it wasn’t the reason for her amazing success. As the youngest sibling, she is richer than all her siblings combined, and it wasn’t because she sat on her ass and complained.
It was by a series of smart business decisions that leveraged emerging trends and technologies to make her empire into what it is today.
How She Made Her Money
The Kardashian clan made their ‘Keeping Up with the Kardashians’ debut in 2007 when Kylie was only 9 years old. There was an abundant uproar of fans that were appealed to the show and the family’s luxurious lifestyle, endless amount of drama and sweet loving moments. By 2014, she was making a reported $500,000 per episode. However, that was nowhere near $1 billion.
When she got older, Kylie began taking endorsement deals from well-renowned companies, collaborated with high-end clothing brands and her appearance in a mobile game that all earned her a hefty sum. Furthermore, these collaborations, appearances and endorsements will earn her a name in the social media world – gaining a large number of followers. This allowed her to differentiate herself from her family and create her own brand. She magnifies the qualities that made her different and expanded on that.
She invested $250,000 into her brand: “Kylie Cosmetics” and what critics failed to acknowledge is that that start-up money was Kylie’s own money that she earned.
Critics Further Helped Her
With such a large following on social media, Kylie is continually subjected to judgements, fake news – you name it! Her family were in the headlines constantly with a new bizarre story each time! By being in the music so often, her visibility and brand name only grew. Kylie used her status to her advantage and creating FREE PR for herself by developing lip kits in the process.
Essentially, her “haters” benefited her!
Power of Social Media
Being so young in the business world, she is awfully careful and smart about the image that she purposely portrays to the public that masterfully convinces her target market to purchase her products. Her life from her conscious fashion choices to her luxurious lifestyle (her abundant of cars!) and even her hair choices all contribute to the success of her brand.
She has direct access to millions of people’s Instagram feeds and extremely high visibility – this strong reach provided useful in starting a successful brand. Also, she knew her target audience (predominately women!) extremely well and that allowed her company to produce products that will sell! She tapped into demographics of millennials and Gen Z who are passionate about trends and (reality TV shows!).
Yes, her family was a massive help to Kylie. But she used her advantages and moulded it into a successful brand that others could only dream of. Her ‘privileges’ were only a stepping stone to her success, but it was through her smart decisions and choices that ultimately led her to achieve a “billionaire” status.