Kylie Jenner has become a bonafide billionaire at the tender age of 22 after selling the majority stake in her cosmetics brand for $600 million. 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. 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.
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