Forbes is the place to go for numbers — but maybe not for words.
Many people are taking issue with the magazine’s definition of ‘self-made’, after it placed Kylie Jenner on its latest cover.
The publication branded her the ‘cosmetics queen’, declaring on the cover: ‘At 21, she’s set to be the youngest-ever self-made billionaire. Welcome to the era of extreme fame leverage.’
According to the publication, Kylie – who is set to turn 21 on August 10 – is currently worth an estimated $900million thanks to her cosmetics line.
Is she really ‘self-made’? Many people are taking issue with Forbes’ celebrating Kylie Jenner on its latest cover
The Internet immediately lit up with reaction, with even Dictionary.com appearing to throw shade.
On Wednesday it tweeted the definition: ‘Self-made means having succeeded in life unaided.
‘Used in a sentence: Forbes says that Kylie Jenner is a self-made woman,’ it added, posting a link to the Forbes article.
Many more on Twitter took umbrage, with one pointing out that ‘calling kylie jenner a ‘self-made billionaire’ is like claiming you made soup from scratch because you opened a can and reheated it.’
Nope: The Internet immediately lit up with reaction, insisting her privileged upbringing contradicted the definition
‘For the love of God, I seriously want to break something when I see the very epitome of privilege described as “self-made”. For f*** sake, if you start the 40-yard dash on the 39-yard line, you are NOT self-made,’ a second posted.
‘“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 *whispers Kylie also isn’t a billionaire yet*’ a third tweeted.
A fourth asked: ‘Does Forbes know what Self Made means?
Zing: Even Dictionary.com appearied to throw shade
Another claimed ‘Calling Kylie Jenner self made is like saying cardi b spelled “kulture” right.’
Self-made or not, once she crosses the $1billion mark, she will unseat Facebook’s Mark Zuckerberg as the youngest-ever self-made billionaire.
The daughter of Kris Jenner, 62, gave her low-cut gowns a rest to pose for the cover, opting instead for business chic in a dark blazer with her long locks pulled back.
In the story accompanying the cover, Forbes said they estimate that Kylie Cosmetics has raked in $630million since it launched in 2015.
‘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 article reads.
According to the article, Kylie employs just seven full-time and five part-time employees at her company, outsourcing production and sales.
As with all of her kids, Kris handles her daughter’s finance’s and public relations for a 10 per cent fee. Last year, that meant Kylie paid her mom $17million.
Kylie talked about launching the business in a beauty video for Vogue in June.
Buy my stuff! The raven-haired beauty is worth $900m and soon she will cross the billion dollar mark. Here she is seen in a Tuesday post pushing her summer collection
Bold colors: The beauty also posed in this racy orange outfit to push the new shades
Just the facts, ma’am: Kylie Cosmetics is a cosmetic company owned by Kylie and was formerly known as Lip Kits By Kylie. But the company was founded and renamed Kylie Cosmetics in 2016 after the release of the liquid lipstick and lip liner set, the Kylie Lip Kit, in 2015
In the video, she says she had been thinking of starting her own cosmetics company for awhile.
She says her mother was cautious about the ordeal, saying she would have to put up her own money to fund the venture.
‘I had Kylie Lip Kit trademarked like two years before it even launched and I was like bugging my mom about it. I see it, like, I need to do this.
‘She was like “Okay, put up your own money, like stop talking about the Lip Kit.” And then I didn’t even order a lot and I was like “Okay, if this doesn’t work out you’re gonna have, like, a lot of Lip Kits in your garage,”‘ she recalled.
Kylie decided to take the risk, and it paid off immediately.
Kylie recently welcomed a baby girl named Stormi (mother and daughter pictured left) with rapper Travis Scott (couple pictured on the right)
Last year, Kylie splashed out on this $9.9million home in Hidden Hills, California. Recent reports suggest she’s building another compound in the town
‘I didn’t even make it to my launch party. I like refreshed the page and in two seconds everything was gone and like I just remember me and all my glam people, my friends, we were like screaming.
‘And then the Kylie Instagram used to be Kylie Lip Kit and then the day after I changed it to Kylie Cosmetics and I was like “This is like gonna be something, like, I can actually do, yeah,’ Kylie said.
Finding a business she could run was a big moment for the youngest Kardashian-Jenner.
Having watched her mother help start a modelling career for her sister Kendall, a sock business for her brother Rob, and an online game for her sister Kim, Kylie says she felt adrift.
Kylie, far right, is now the richest person in her family by a long shot. The members of the Kardashian-Jenner clan, excepting brother Rob, are pictured above in 2016. From left to right: Kris, Khloe, Kendall, Kourtney, Kim, Caitlyn and Kylie. Also pictured in front is North West, Kim’s eldest daughter
‘I struggled for a minute with finding something to do on my own,’ she told Forbes.
But she quickly found inspiration in her life long obsession with make-up.
‘Ever since I was in sixth grade, I would wear purple eye shadow,’ Kylie said. ‘I turned to makeup to help me feel more confident.’
She honed her make-up skills through YouTube videos, and when she felt self-conscious about her thin lips, she used lip liner to overdraw her lips and make them look larger.
She also got fillers, but initially denied getting plastic surgery, which caused a bit of scandal around the time that she launched her company.
Earlier this week she revealed she had taken her lip fillers out.
The $29 Kylie Lip Kits debuted in November 2015 and sold out within seconds. The Kylie Lip Kits went on to start a general trend in the industry for liquid matte lipsticks, with both drug- and department-store brands quickly going to market with similar products.
The timing of the article is perfect for Kylie as she is launching her summer collection on Friday.
Jenner is also a new mother: she welcomed daughter Stormi with rapper Travis Scott in February.