Kris Jenner Defends Kylie Being a 'Self-Made' Billionaire: 'She Showed Us How to Do It'
"It takes a lot of work to do what they’re doing," Kris Jenner said of her children and their business empires
The 21-year-old Kylie Cosmetics mogul was crowned the youngest self-made billionaire by Forbes earlier this year, and while many online have questioned whether the “self-made” label could ever apply to a member of the Kardashian household, Kris isn’t one of them.
“I think she’s self-made,” the momager, 63, remarked during a recent sit-down with CBS Sunday Morning, which was released on YouTube on Sunday.
“I mean, listen, my girls, you can say that certain things have been handed to them, but it takes a lot of work to do what they’re doing,” she added, sharing that while her daughter may have inherited a large platform because of her last name, “the money she’s made is her own.”
Pointing out that her daughter actually began the company “with her own savings,” Kris shared just how instrumental Kylie was to her own success.
“She put her own blood, sweat and tears into it. It was her idea. It was amazing what she did,” she remarked, adding that her entire family took note.
“She showed the rest of us how to do it,” Kris boasted.
Earlier this year, the Kylie Cosmetics mogul admitted that while she never “inherited” her fortune, she “can’t say” she became a billionaire all on her own.
“I can’t say I’ve done it by myself,” Jenner told The New York Times in March. “If they’re just talking finances, technically, yes, I don’t have any inherited money. But I have had a lot of help and a huge platform.”
Driven by Kylie Cosmetics’ expansion into Ulta in 2018, the company’s revenue climbed 9 percent last year to an estimated $360 million, with the overall valuation of the brand estimated at $900 million, which Forbes called a “conservative” report. Jenner owns 100 percent of Kylie Cosmetics, which first launched in 2015 with three Lip Kits.
But Jenner’s billion-dollar empire also stems from her other earnings like an array of product endorsements (including sponsored posts for Fit Tea Wraps, waist trainer company Waist Gang Society and more), her KUWTK paycheck, the Kendall + Kylie clothing line and her Adidas partnership.
Overall, the businesswoman credits her booming success to the internet (she has over 130 million Instagram followers alone). “It’s the power of social media,” Jenner told Forbes. “I had such a strong reach before I was able to start anything.”
RELATED VIDEO: Kylie Jenner Spurs Engagement Rumors Once Again with Flashy Ring on Her Left Hand
“I had such a huge platform, I had so many followers already and I had so many people watching me,” Kylie said, adding that “the self-made thing is true.”
“My parents told me I needed to make my own money, it’s time to learn how to save and spend your own money, stuff like that,” she shared. “What I’m trying to say is I did have a platform, but none of my money is inherited.”
As seen on Keeping Up with the Kardashians, she still lived with mom Kris until she turned 18, buying a $2.7 million Calabasas mansion in 2015. At the time, Kylie told InStyle U.K. that Kris had stopped funding her lifestyle three years earlier, though a source told PEOPLE, “getting cut off is more of a technicality.”
“She had a refrigerator full of food and all the luxuries that come with [living with] Mom but unless it was a gift, if she wanted a new Chanel bag, Kylie was the one paying for it,” the source said.
However, Kylie doesn’t feel like anything has changed since becoming a billionaire.
“I don’t define myself by how much I have,” she told Paper. “I honestly don’t wake up even thinking about it.”