Kris Jenner the minted momager celebrates her billion dollar baby Kylie Jenner’s $600m cosmetics deal: ‘It’s a crystallization of all our work’
On Monday it was announced that Kylie Jenner sold a 51% stake in her cosmetics empire to beauty conglomerate Coty for $600million.
But the 22-year-old makeup mogul’s mom has insisted that her reality TV star daughter still wants to remain a part of the business she created.
‘This is what she wants to do for the rest of her life,’ said Kris Jenner, 64, in an interview with CNBC’s Squawk Box on Tuesday.
The rich get richer: On Monday it was announced that Kylie Jenner [L, in August] sold a 51% stake in her cosmetics empire to beauty conglomerate Coty for $600million. Kris seen R, this month
The self-styled ‘momager’ was bursting with pride during the interview, which was conducted over the phone by hosts Andrew Ross Sorkin and Joe Kernan.
‘Yesterday was a really big day for Kylie and our team at Kylie Cosmetics,’ said the Keeping Up With the Kardashian matriarch.
‘[It was] truly a moment for our family to be proud. It’s kind of a crystallization of all our work.’
Lifer: The 22-year-old makeup mogul’s mom has insisted that her reality TV star daughter still wants to remain a part of the business she created
Hooray: Jenner celebrated news of the sale with a celebratory tweet. Her siblings however have not yet publicly congratulated their little sister
The CEO of Jenner Communications then told the show about her youngest daughter’s plans for the future.
‘I think the goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand. That’s the vision.’
‘[Kylie] talks about [the business] all the time. Twenty years from now she sees herself doing this and maybe passing it down to her daughter [21-month-old Stormi]’.
Cherry on top: The 22-year-old reality-star-turned-beauty-mogul will still solely own the other 49 percent stake. The sale gives Jenner’s company a new valuation of $1.2 billion
Beauty product giant Coty Inc. announced on Monday it was buying a 51 percent stake in Jenner’s make-up and skincare empire.
The 22-year-old reality-star-turned-beauty-mogul will still solely own the other 49 percent stake. The sale gives Jenner’s company a new valuation of $1.2 billion.
Jenner was named the world’s youngest self-made billionaire of all time by Forbes earlier this year with an estimated net worth of $1 billion.
Billion-heir: ‘Twenty years from now she sees herself doing this and maybe passing it down to her daughter [21-month-old Stormi]’ said Kris. Kylie and Stormi seen together in May 2019
Jenner, who is the youngest and richest of the entire Kardashian-Jenner family, started her make up line in 2015 by selling $29 lipstick kits.
The kits sold out within minutes of launching – an early sign of the power of her now 270 million-plus social media following.
Jenner’s products were only sold online when it was first launched but last year the brand struck a deal to sell its goods in 1,100 Ulta Beauty stores across the U.S. She expanded her empire earlier this year with Kylie Skin – a line of moisturizers, under eye creams and facial scrubs.
Jenner brought in sales of an estimated $360 million last year, according to Forbes.
Kylie’s millions: How does $600m payday compare to the rest of the Kardashian family?
She’s just sold 51% of her make-up company, banking an incredible $600million.
So how does Kylie Jenner’s huge payday compare to the rest of the Kardashian family?
Kylie Jenner; Estimated net worth 1.2billion and counting
Like all her sisters, Kylie, 22, makes money from the family reality show, modelling gigs, and endorsements. However this is dwarfed by her makeup company, which started out as a single batch of 15,000 $29 lip kits which she self-funded and sold online to her Instagram followers in 2015.
With her beauty company now valued at 1.2billion, she has sold a controlling stake to CoverGirl owner Coty for $600million, making her officially the richest Kardashian and indeed the youngest self-made billionaire of all time.
Self made: Kylie Jenner, seen promoting Kylie Cosmetics , is worth more than 1.2billion
Kim Kardashian; Estimated net worth – $370million
The first member of the Kardashian family to find stardom was Kylie’s big sister Kim, 39.
After a couple of years lurking on the sidelines of fame as Paris Hilton’s friend and sometime stylist, she was catapulted into the public eye when an intimate sex tape was leaked in 2007. While Kim was by her own account ‘devastated’, her mother Kris Jenner saw an opportunity and took over, guiding Kim to win a $5million payout via a lawsuit against the company, and signing up the newly notorious family for their own reality show.
This year Kim’s net worth is estimated at $370million by Forbes, which put her at number 26 on the magazine’s 2019 list of America’s Highest-Paid Celebrities. The mother-of-four’s money mostly comes from her share of the Keeping Up With The Kardashians show pay check and her KKW makeup line, which produced $100million in revenue just last year. She has also made millions from her computer game, Kim Kardashian: Hollywood.
She supplements this income with endorsements, recently confirming she gets offered up to $1million for a single sponsored Instagram post.
She said she turned down that particular offer because her husband Kanye West didn’t like the ‘fast fashion’ company because ‘they would knock off Yeezy all the time.’
Her rapper husband has called himself a billionaire, and according to Forbes Kanye earned $150million over the past year, putting him at number three on the magazine’s World’s Highest-Paid Entertainers 2019 list.
Sister act: Kylie’s big sister Kourtney, Kim and Khloe promite their KKW fragrance Diamonds together
Kris Jenner; Estimated net worth – $90million
When her daughter’s sex tape with ex Ray Jay hit the internet, Kris Jenner took control, negotiating so well that the reality star continues to make money from royalties today.
Indeed it is all thanks to Kris that fleeting infamy became something more. Shortly after the sex tape leaked she signed up the entire family for their eponymous reality show, which premiered that same year. KUWTK is currently in its 17th season, and she remains the executive producer.
She also operates as the family momager – a nickname she likes so much she trademarked it – taking a percentage cut of her children’s earnings whenever she negotiates their deals.
While at 30million her social media presence is a fraction of her daughters, Kris also occasionally scores endorsement deals of her own, including a Fendi campaign with Kim and her daughter, North West.
According to the website CelebrityNetWorth she is worth around $90million, however if she negotiated Kylie’s Coty deal, it will mean a huge payday.
Khloe Kardashian; Estimated net worth $40million
Along with the family reality show, and endorsement deals, Khloe has her own clothing line, Good America, which is sold in department stores and online.
Kourtney Kardashian; Estimated net worth $35million
The bulk of Kourtney’s income comes from the family reality show, and endorsement deals. She is currently promoting her Diamond fragrance line with sisters Kim and Khloe.
The mother-of-three’s net worth is estimated at $35million, according to Money.
Caitlyn Jenner; Estimated net worth $100million
Famous first as an Olympian, Caitlyn for years received a pay check for appearing on KUWTK.
Since divorcing Kris Jenner, she has left the money-spinning show, and come out as a trans woman. She paid her bills with her own spinoff chronicling her life as a trans woman, and released a tell-all autobiography.
She currently stars on the British reality show I’m A Celebrity Get Me Out Of Here for which she is being paid $648,000, according to The Sun newspaper.
Her net worth is estimated at $100million.
TV role: Caitlyn Jenner is currently appearing on British reality show I’m A Celebrity
Kendall Jenner; Estimated net worth $30million
Like her sisters Kendall cuts a paycheck from Keeping Up With The Kardashians.
However she combines this role with life as a high fashion model.
Last year she was the world’s highest-paid model for the second year in a row, according to Forbes, making $22.5million in 2018 alone. Money estimates her worth at $30million.
High fashion: Kendall Jenner walks the runway in Rome last month
Rob Kardashian; Estimated net worth $10million
It will come as no surprise that Rob is the least wealthy of his siblings. Still, with an estimated net worth of $10million, the single dad is still a wealthy man.
Rob made his money by appearing on Keeping Up With The Kardashians and his short lived spinoff show. He stepped back from KUWTK last year, now making only occasional appearances for which he is thought to be paid $50,000 an episode. He also has a sock company, Arthur George.
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