Kylie Jenner Sells Controlling Interest in Her Cosmetics Company for $600M: Report
So… now Kylie Jenner is only half a billionaire.
Jenner sold a majority interest in her wildly successful cosmetics company Kylie Cosmetics to fragrance and cosmetics company Coty Inc. for $600 million, it was reported by several media outlets Monday. Coty is paying for a 51 percent ownership interest in the company. Jenner will remain the public face of the brand and it will be renamed Kylie Beauty.
In March, at 21 years of age Jenner officially become the world’s youngest, self-made billionaire according to Forbes stemming from sole ownership of her firm known primarily for nude lip liners and lipsticks.