Billion-dollar lifestyle
How “Kerching Kylie” spends her loot!
She’s the world’s youngest billionaire and now Kylie Jenner has added a chunk of change to her fortune. The 22-year-old sold a 51% stake in her company for an estimated $930 million to beauty conglomerate Coty, which owns other big labels like Cover Girl and O.P.I.
“I can’t wait for all of the amazing things to come,” Kylie said, adding that she was excited to “expand my brands globally. This is only the beginning!”
It all began when she was inspired to create her own cosmetics brand, which launched with her lip kits in 2015 – the same year she fessed up to getting lip injections – because she was self-conscious about having a thin pout.
“It’s beyond belief how fabulous her world is now,” says a source. “While she was always confident that she’d be rich, she never expected she’d be this successful.”
These days, though, it’s her closet size that’s giving the tycoon pause.
“While her closets are to die for, there isn’t enough room to fit all the shoes she owns – there are well over a thousand pairs,” continues the insider, adding that Kylie – who in 2018 posted an Instagram photo of her handbag closet, which contained at the time an estimated $390,000 worth of designer purses – doesn’t look at price tags any more.
“She spends at least $470,000 on fashion every week. She has rooms full of things she’s only worn once.”
Kylie’s also been known to use pricey vehicles as the ultimate accessories.
“She’s bought cars just to match her outfits,” claims the source, noting the Keeping Up with the Kardashians star’s fleet includes a $3.4 million LaFerrari Aperta, a $4.6 million Bugatti Chiron as well as assorted Rolls-Royces, a Mercedes G-Wagon, a Ferrari 488 Spider and more. While her collection sounds extravagant, so is plonking down more than $60 million on properties in the last two-and-a-half years alone.
“She wants to continue to expand her portfolio – within the US and other countries,” notes the source. “She’s even considering buying a private island and turning it into a retreat so she can relax without being disturbed.”
Instead of worrying about making rent or saving like others her age, Kylie instead ponders ways to give others a taste of her lifestyle.
“When she goes out to dinner with pals, she always pays,” explains the insider, who’s heard about Kylie picking up the tab for whole restaurants, “just because she’s in a good mood!”
But the main beneficiary is her daughter Stormi, 21 months. “Kylie is constantly showering her with gifts – expensive jewellery, the latest gadgets, you name it, Stormi has it. She can drop upwards of $150,000 in a week on her little girl.”
Kylie does have it all, but the glamorous persona she presents on social media hasn’t always equated to happiness. As she admitted in July, despite all her money and material possessions, she has hard days too. “My life is not perfect,” the anxiety sufferer explains. “I’ve lost friends along the way and I’ve lost myself too sometimes.”
Sadly, her family isn’t always there to help. “The Kardashians are extremely competitive and play mind games in a bid to outdo each other,” alleges the insider. “Kim credits herself as being the one who made the family famous and has tried to stop Kylie from outshining her.”
The 39-year-old has found an ally in sister Khloé, 35, in the past. “They won’t admit it, but they tried to scare Kylie off starting her business in the beginning, warning her that it was too big of a risk. Needless to say, she’s glad she didn’t listen to them.”
Instead, she trusted her instincts, finding something she loves and making it into a career. She’s also open to feedback, admitting that customer complaints even led her to change the length of her lip wands. Kylie relies on a team of experts to help educate her. She maintains a work-life balance – she has a nursery for Stormi at her office. And she doesn’t let personal drama get in the way of her dreams.
“Kylie’s constantly making business calls and attending meetings, and she’s been doing it for years,” notes the insider. “Making money is in her blood.”
And she’s not done cashing in. “The goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand,” momager Kris Jenner, 64, says, confirming that Kylie will soon expand into other beauty categories. “This is what she wants to do for the rest of her life!”