Among the revelations found in the Forbes ranking of the wealthiest women in the United States are the fact that Kylie Jenner is by far the richest Kardashian, people still buy tons of Alex + Ani bracelets, and that Women entrepreneurs have always found success in fashion and beauty.
Let's start with the biggest main poster here: Kylie Jenner, the star of the subject's cover, entered number 27 on the list with an estimated net worth of $ 900 million. That fortune comes in large part from her Kylie Cosmetics empire, which started with a simple $ 29 lip kit in February 2016 (two years ago!) And has since sold more than $ 630 million in eye shadow palettes , markers and more. She still maintains 100 percent ownership of the company, which means that it is likely that within the next year she will beat Mark Zuckerberg to become the youngest self-made billionaire, man or woman.
"Basically, all Jenner does to generate all that money is to take advantage of his subsequent social networks," writes Forbes. This is how the rest of the business works:
Your almost one billion dollar empire consists of only seven full-time employees and five part-time employees. Manufacturing and packaging Subcontracted to Seed Beauty, a private label producer in the vicinity of Oxnard, California. Sales and compliance? Subcontracted to the Shopify online point of sale. Finance and public relations? His astute mother, Kris, takes care of the real business things, in exchange for the 10% reduction in administration that takes away all of her children. As the ultralight startups go, Jenner's operation is essentially aerial. And because of those minuscule overhead and marketing expenses, the profits are huge and go directly to Jenner's pocket.
Kylie is one of the 17 women on the list (there are 60 in total) who have made a name in fashion and retail space, with seven of those in cosmetics and skin care. There are also two great beauty actresses: Anastasia Soare, the founder of the eyebrow empire Anastasia Beverly Hills (No. 21, valued at $ 1 billion), and Huda Kattan, the beauty blogger and founder of Huda Beauty (No. , with a value of $ 550 million), which WWD attributes to "the growing sales of cosmetics among Gen Z".
Many of the fashion entrepreneurs on the list are established actors: Gap co-founder Doris Fisher (no. 8), inventor of Spanx Sara Blakely (No. 21), co-founder of Forever 21 Jin Sook Chang (No. 27), Tory Burch (No. 29), Vera Wang (No. 34), Kendra Scott (No. 40), Donna Karan (No. 43) – but beauty innovators tend to be names a little newer
In addition to Soare and Kattan, there are also Kathy Fields and Katie Rodan, who occupied the number 13 position. They are the founders of Proactiv Solutions and the multi-level marketing company Rodan + Fields, which is controversial, sells items such as the popular Lash Boost and its skin care regimens in several steps.
There is also Jamie Kern Lima, a former television reporter who founded It Cosmetics to help cover her rosacea and then sold it to L'Oréal for $ 1,200 million, as well as Jessica Iclisoy, who launched California Baby To create non-toxic organic products and lotion, sunscreen and soap for babies with sensitive skin. And although it's certainly not a new name, Kim Kardashian West came to the list in 54th place, thanks to her $ 100 million in sales of KKW Beauty.
Although some have questioned Forbes's claim that Kylie Jenner, the youngest member of one of the most famous families in the United States, is a "self-made" entrepreneur (the magazine said they included "anyone You will not inherit any part of your money "), the women on the list follow a long tradition of American businesswomen finding success in the beauty and wellness industry.
At the end of the 19th century, there was Lydia Pinkham, who marketed herbal home remedies for women with uncomfortable menopausal and menopausal symptoms ("Female complaints ") and created one of the best-known patented medicines of the decade.
At the beginning of the 20th century, Madame C.J. Walker became the first self-proclaimed millionaire (real) in the United States; She was born of parents previously enslaved only four years after the Proclamation of Emancipation. She became famous selling door-to-door beauty products and hairdressing for black women in Denver at the beginning of the 20th century, and in the following decade she had built a factory, a beauty salon and a beauty school in Indianapolis.
Around the same time as Walker, Elizabeth Arden began her saloon empire in New York City, while moguls like Estée Lauder and MLM's predecessor Rodan + Fields, Mary Kay Ash, would follow in later decades, all the companies that today are worth more than one billion dollars.
And even with the emergence of a new class of new beauty companies run by women, from Glossier to Ouai and KNC Beauty, many large beauty companies have few or no women on their boards of directors or among their senior management teams. But if history has shown us anything, it is that women will continue to find new opportunities to earn money where men are not looking.