Celebrity Net Worth: Kylie Jenner named youngest self-made female millionaire

In our fortnightly celebrity investment and wealth round-up, Dulquer Salmaan backs an Indian supplements group and Shakira invests in a gluten-free cereal

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Kylie Jenner

Once named the youngest self-made billionaire in the world, Kylie Jenner now has an estimated net worth of $600 million, down from $620m in 2021, according to a new wealth index by Forbes magazine.

As with many of the world's richest people, Jenner, 24, has seen her net worth shrink over the past year, driven by the Russia-Ukraine crisis, the Covid-19 pandemic and volatile stock markets. Nevertheless, she remains the youngest person on the magazine’s annual list of self-made women with an overall ranking of 41.

Jenner’s wealth stems from her make-up business, Kylie Cosmetics. She sold 51 per cent of the company to multinational beauty conglomerate Coty in 2020 for $600m. At the time, the deal valued the business at $1.2 billion. Jenner earned $340m from the sale.

However, filings by Coty later indicated that the size of the business was smaller and less profitable than previously estimated, Forbes reported in 2020, when it revised down her net worth to less than $900m.

In 2020, sales of the business dropped dramatically, the magazine said. This year, it reportedly plunged again — online sales dropped by more than half.

The youngest member of the Kardashian-Jenner clan, Jenner is half-sister to reality TV star Kim Kardashian and starred in the reality television series Keeping Up with the Kardashians from 2007 to its final season in 2021.

Jenner created her first business at the age of 14. With her sister Kendall, she launched a line of clothing, Kendall & Kylie, in collaboration with the brand PacSun.

Several years later, she launched what was to become Kylie Cosmetics, reportedly using $250,000 from her income as a model.

Products were principally marketed to her 100 million Instagram followers and she said the $29 kits sold out in less than a minute. Jenner has now trebled her Instagram follower count to 340 million.

She reportedly charges brands just under $1.5m for a single Instagram endorsement post, according to social media marketing platform Hopper.

Jenner has also boosted her wealth by buying and selling homes in and around Los Angeles, according to wealth tracking website Celebrity Net Worth. As of 2021, she owns homes in Holmby Hills and the mountains above Beverly Hills, as well as vacant lots in Hidden Hills and La Quinta, Architectural Digest reports.

Other women on the Forbes self-made women's list under the age of 40 include pop stars Rihanna, with an estimated net worth of $1.4bn, and Taylor Swift ($570m).

Roofing and building supply billionaire Diane Hendricks, the founder of building materials brand ABC Supply, topped the list with a fortune estimated at $12.2bn. That is up from $11bn a year ago on the back of a pandemic-driven housing boom.

Dulquer Salmaan -- Handout photos of stills from the Bollywood film Bangalore Days, 2014
CREDIT: Courtesy Anwar Rasheed Entertainment

Dulquer Salmaan

Indian actor and playback singer Dulquer Salmaan has invested an undisclosed amount in Indian health supplements brand Wellbeing Nutrition.

The plant-based company, founded in 2019, aims to position “nutraceuticals”, or functional food, as lifestyle products rather than medicinal supplements. Wellbeing Nutrition raised $2.2m in a series A round led by Fireside Ventures in 2021.

Other celebrity investors in the company include actor Rakul Preet Singh and model Mira Kapoor.

“I have always believed that health and wellness is one of the most important investments one makes,” Salmaan told entertainment website Bollywood Hungama.

“Given my busy schedule, the melts and the Slow range from Wellbeing Nutrition were so easy to adapt into my lifestyle. I believe it will be a game-changer in the wellness industry and I am happy to be associated with the brand and support its vision.”

The actor, 35, is the son of Malayalam box-office star Mammootty.

Salmaan’s net worth is estimated at $7m and derives mainly from his film work. He is also reported to have a significant real estate portfolio, with properties in Dubai and his home state of Kerala.

Salmaan has starred in more than 30 films in four languages since his 2012 acting debut in Second Show. His first Netflix series, Guns and Gulaabs, is currently being filmed.

Shakira has joined an $80 million Series B funding round for US breakfast cereal maker Magic Spoon. Photo: AFP

Shakira

Lebanese-Colombian star Shakira has joined an $80m series B funding round for US breakfast cereal maker Magic Spoon. It is her first public investment since her 2020 outlay into nut snack brand SkinnyDipped. Both are gluten-free brands.

The size of Shakira’s investment in Magic Spoon was not disclosed.

Other investors in the round included professional basketball player Russell Westbrook, American footballer Odell Beckham Jr, comedienne Amy Schumer and musicians Nick Jonas, Halsey, The Chainsmokers and Nas.

The round was led by HighPost Capital, a private investment company focused on the global consumer and consumer technology sectors.

Magic Spoon, which makes cereals and cereal bars, will use the funds to accelerate business growth and expand from direct-to-consumer into retail shops, including Target.

Shakira, 45, has a net worth of $300m, according to Celebrity Net Worth.

With three Grammy awards and 12 Latin Grammys, the singer, songwriter, belly dancer and producer has made most of her money from music.

During a career spanning 30 years, she is one of the 100 best-selling artists in the world. She has sold about 70 million equivalent album units, including digital sales and streaming, according to data by music industry tracker Chartmasters.org.

Her last four world tours, including 2018’s El Dorado tour, each exceeded $75m in ticket sales.

The 10-year touring deal she signed with global entertainment company Live Nation in 2008 was reportedly worth $300m, according to court filings during a lawsuit by her former partner, Argentine lawyer Antonio Rua.

Last year, she sold 100 per cent of her music publishing rights to UK investment company Hipgnosis. The catalogue includes 145 songs.

Shakira has also appeared as a judge on the TV shows The Voice and Dancing with Myself, has a partnership with toy brand Fisher-Price and endorsements for brands such as Pepsi, Panasonic and Reebok.

Shakira’s previous investments include a 2019 foray into High Brew Coffee, an Austin-based beverage brand that sources coffee beans from her home country of Colombia.

She is thought to own property in Barcelona, where she lived with her former partner, Spanish footballer Gerard Pique, as well as in the Bahamas, Uruguay and Miami Beach in Florida.

Magic Johnson has entered the metaverse after acquiring digital football and basketball franchises in SimWin Sports. AFP

Magic Johnson

Basketball legend Earvin ‘Magic’ Johnson has invested in metaverse sporting platform SimWin Sports after acquiring new football and basketball franchises in the digital sports league, according to the company.

SimWin Sports sells professional sports franchises as non-fungible tokens (NFTs).

Celebrities and athletes own the teams, and virtual athletes can compete around the clock to fuel on-demand fantasy sports contests.

Other celebrity team owners include basketball player Lamelo Ball, footballer Jerry Rice and musician Nick Carter of the boy band Backstreet Boys.

“I am so excited to be involved with SimWin, which is blazing a trail in one of the hottest new business sectors and has a great team leading the charge,” Johnson said.

“This multibillion-dollar business is about to take off and the SimWin model is an excellent way for sports fans to get involved in this ground-breaking opportunity.”

The retired American basketball player has a net worth of $620m, according to Celebrity Net Worth.

Johnson has used his basketball earnings to build an investment conglomerate, beginning with the cinema house chain Magic Johnson Theatres, which he developed Sony Pictures Entertainment.

Over the years, he has invested in several other businesses, including equity in food and beverage franchises including Sodexo, TGI Friday’s, Starbucks and Burger King. His company, Magic Johnson Enterprises, is valued at $1bn, according to Celebrity Net Worth.

Johnson is also a member of the group that owns the Los Angeles Dodgers baseball team.

Earlier this month, he lost a bid for the National Football League team Denver Broncos, which was sold for a record $4.65 billion to Walmart heir Rob Walton and his family.

During his career, Johnson earned more than $18m in cumulative salary payments and banked millions more in endorsements. He owns two homes in California — in Beverly Hills and Orange County.

Updated: June 20, 2022, 5:00 AM
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