Kylie Jenner just went from rich to richer! The star has just gone to sell the majority of her shares of Kylie Cosmetics for a whopping $600 million.
Kylie Jenner is more than just a reality star, despite her roles on Keeping Up With The Kardashians and Life of Kylie, Jenner is now the youngest billionaire ever!
It was reported today that the star officially sold 51% of her Kylie Cosmetics share for $600 million. This not only brings the company to a higher worth but makes Kylie that much richer.
It all began when Kylie released her iconic lip kits back in November 2015, and the company has since gone on to be one of the most successful e-commerce companies in the world!
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TMZ broke the story, revealing how “the world’s youngest billionaire unloaded 51 percent of Kylie Cosmetics to Coty – the conglomerate behind Clairol, Covergirl and Max Factor to name a few”, the report said.
Kylie was definitely on board with this decision (I mean, who wouldn’t want an extra $600 million, right?), and claimed how “this partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse”, Jenner said.
This means Kylie will still have a huge say on what is created and released with Kylie Cosmetics, all while being able to have more time to get the job done. So where does this leave Kylie Cosmetics in regards to its worth?
Well, with this recent purchase, Kylie’s company is now set to be worth $1.2 billion, yes, that’s billion with a capital B!
Talk about businesswoman extraordinaire! Well done on Kylie for making this huge power move and putting Kylie Cosmetics onto an unstoppable path. We are putting in our bets and saying that a few years from now, Kylie Jenner will be the most successful woman in beauty and makeup ever!
What are your thoughts on this huge sale? Let us know in the comments below and stay tuned for more updates every day.