Kylie Jenner has become a confirmed 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.
Jenner brought in sales of an estimated $360 million last year, according to Forbes.