Money Comment: Kylie Jenner’s ‘fortune’ is just one of capitalism’s many mirages

03:30  13 july  2018
03:30  13 july  2018 Source:   crikey.com.au

This striking chart shows how much bigger Kylie Jenner's net worth is than sister and fellow mogul Kim Kardashian West's

  This striking chart shows how much bigger Kylie Jenner's net worth is than sister and fellow mogul Kim Kardashian West's Forbes estimated that Kylie Jenner is worth $US900 million, while her half-sister Kim Kardashian West is worth $US350 million. Jenner's makeup company alone is estimated to be worth $US800 million.Forbes estimated Jenner is worth $US900 million, while Kardashian West is worth $US350 million. It's mostly thanks to Jenner's makeup company, Kylie Cosmetics, which launched in 2016. Forbes estimated it is worth $US800 million - and Jenner owns 100% of it.

Kylie Jenner (right) and her sister Kendall. News that Kylie Jenner may become the world’ s youngest female billionaire, by he time she' s 21, shows us once again that capitalism is a good idea in theory, but doesn’t work in practice.

As with sister Kim' s sex-tape fame, Kylie Cosmetics got started by capitalizing on a scandal. By 2014, Jenner ' s appearance became tabloid fodder as the size of her lips ballooned. Altogether they employ more than 500 people just to work on Kylie Cosmetics.

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Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not represent the views of MSN or Microsoft.

News that Kylie Jenner may become the world’s youngest female billionaire, by the time she’s 21, shows us once again that capitalism is a good idea in theory, but doesn’t work in practice.

The system, it is alleged, is meant to encourage us to entrepreneurship and enterprise. The effect of this sudden fortune – from a cosmetics company, wholly owned by Jenner, going viral repeatedly – has the opposite effect: it simply reminds you that the system is overwhelmingly aristocratic, often in disguised forms, transferring cultural capital between close networks.

Kylie Jenner Reveals She 'Got Rid of All' Her Lip Fillers With New Natural Photos on Instagram

  Kylie Jenner Reveals She 'Got Rid of All' Her Lip Fillers With New Natural Photos on Instagram Kylie Jenner is going back to her roots. The 20-year-old mother shared pictures on Instagram yesterday (July 8), sporting a noticeably smaller pout as she posed with a friend, Anastasia Karanikolaou. Fans immediately pointed out the change in the Keeping Up With The Kardashians star, with one commenting that she looked like "the old Kylie." Jenner responded to the comment, saying, "I got rid of all my filler," with several wide-eyed emojis. The makeup mogul faced scrutiny during her teenage years for using "temporary lip fillers.

On social media, teenagers popularized the “ Kylie Jenner Lip Challenge,” a viral fad in which they inserted their lips into a shot glass and then sucked out the air. Altogether they employ more than 500 people just to work on Kylie Cosmetics. Fact & Comment .

As the youngest sister, Kylie Jenner noticeably benefitted from her older sisters' fame before her — without their 20 years in the spotlight, she likely wouldn’t have sold as many lip products in just three years.

Kylie Jenner is, after all, a Kardashian; and the Kardashians gained their fame because their father, Robert Kardashian, was OJ Simpson’s best friend, and was by his side throughout his first trial. The OJ trial was both the final event of mass culture and the ur-event of modern celebrity – a freeway chase broadcast in real time, a trial with 100% coverage. The rambunctious Kardashian kids could already give soundbites by the end of it. Their multibillion-dollar empire is simply the long dividend of that ghastly event.

a woman sitting on a table: Kylie Jenner (right) and her sister Kendall.© Provided by Private Media Operations Pty Ltd. Kylie Jenner (right) and her sister Kendall. But while contemplating one’s own net worth, it’s worth asking the question: is Kylie Jenner really worth $900 million? What does that even mean? The question is worth posing, especially on the left, because we continually use various appalling statistics – the top eight (or 23 or 55) richest people are worth as much as the bottom 50% of the world, etc – without much regard to their usefulness, or their propaganda for capitalism itself.

Dictionary.com entered the debate over whether Kylie Jenner is a 'self-made' multi-millionaire with a brutal subtweet

  Dictionary.com entered the debate over whether Kylie Jenner is a 'self-made' multi-millionaire with a brutal subtweet Kylie Jenner is now the 27th-richest self-made woman in the United States, according to a new Forbes cover story. Some people questioned Forbes' classification of Jenner as "self-made."As people debate Forbes' decision to put Kylie Jenner on a list of "self-made" billionaires, Dictionary.com is wading into the discourse.

The tweet was liked more than 1 ,000 times and garnered hundreds of comments for Dictionary.com’ s response. For the headline of their story, Forbes wrote: “How 20-Year-Old Kylie Jenner Built A 0 Million Fortune In Less Than 3 Years.”

Kylie Jenner is on track to become the youngest self-made billionaire ever, ahead of even Mark Zuckerberg, who became a billionaire at age 23. Click the link in our bio to find out how she built a 0 million fortune in less than 3 years.

What’s the real value of a $900 million valuation of a company that is purely image and branding (the production of Jenner’s cosmetics is wholly outsourced)? By one measure, it would be what could be got for the company now, as a 100% sale. Could anything like $900 million in cash, or better stock be got for this meme? Quite possibly, Jenner could get a deal involving quite a bit of cash, and solid stock, and a lot of exchanged non-solid stock (i.e. in the company that was buying her out), but nothing like $900 million. Even if she found a gullible megacorp, the brand would probably tank in a couple of years, leaving a hole in accumulated value for the sector as a whole.

Such questions were made visible by the recent attempt by the very non-Kardashian Ruslan Kogan and Kogan co-owner David Shafer to sell $100 million of shares in the household goods company. They got no viable offers and the spectacle of the eponymous company’s founder selling off dropped the share price by 12%. They later took an offer of $42 million for a smaller parcel. So how much is Kogan – a far more real company than Jenner’s — actually worth?

Forbes ripped for calling Kylie Jenner "self-made" billionaire on magazine cover

  Forbes ripped for calling Kylie Jenner Forbes was handed a grammar lesson on Twitter for its choice of words to describe Kylie Jenner, who graced the magazine’s cover on Wednesday. “At 21, she’s set to be the youngest-ever self-made billionaire. Welcome to the era of extreme fame leverage,” the magazine cover read alongside a photo of Kylie wearing a black blazer.The term “self-made” didn’t sit well with Twitter users. Jenner is the youngest daughter of the reality TV family in “Keeping up with the Kardashians."Dictionary.

Not saying Kylie Jenner is undeserving or not hard working, but she most definitely was not self made. Amassing her 0 million fortune in just 3 years. Welcome to the age of cultivating a personal brand, welcome to the age of Influence 🙏🏾 Hot Videos. #KylieJenner. Load Comments .

Kylie Jenner ' s cosmetics brand, Kylie Cosmetics, has raked in 0 in retail sales in just 18 months. Sign up now to receive FORTUNE ' s best content, special offers, and much more .

The question needs to be posed repeatedly of a capitalism now based overwhelmingly on branding, image, consumption, memes and algorithms, because this new strata now forms a layer of mutually supporting mega-valuations that cannot be cashed out. Yes, capital was ever thus: a non-physical projection of value into the future. But as an economy becomes more composed of knowledge-culture production and its products, that gap widens to an abyss.

a close up of a newspaper: The cover of Forbes with Kylie Jenner.© Provided by Private Media Operations Pty Ltd. The cover of Forbes with Kylie Jenner. The West is rich, but the world is not nearly as rich as capitalism would suggest it is: which is one reason why Western cities have been in decline as social entities, why wages are squeezed decade-on-decade. The value, to the public, of the combined plant, labour, potential and practices of an economy need to be calculated entirely separately to the sticker price capitalism would like to put on what are now a series of networked practices – Google, Facebook, Amazon – which are socialist/communist-in-embryo. That applies to the other end of things as well.

Kim Kardashian Explains Why She Turns To Younger Sister Kylie Jenner For Parenting Advice

  Kim Kardashian Explains Why She Turns To Younger Sister Kylie Jenner For Parenting Advice In a new interview, Kim Kardashian explained why she turns to sister Kylie Jenner for parenting advice, and how having children has brought all of her siblings togther.It's a busy, busy time in the lives of the Kardashian family, with three new bundles of joy brought into the world in this year alone. Given that three of the sisters all had babies around the same time, it is no surprise that they all turn to one another to discuss their parenting methods and share advice.

With her Puma deal, television shows Keeping Up With the Kardashians and Life of Kylie , and other endorsement deals, 0 million is probably a conservative guess at Jenner ’ s fortune . Still, she is on track to be the youngest self-made billionaire ever, male or female — just give her another year.

More . Kylie Jenner thus fits Forbes’ definition of “self-made,” because her fortune comes from Kylie Cosmetics, a company she started and owns.

Taking the IMF, etc, valuations that X billion people live on $2 a day and then comparing that to Jeff Bezos is comparing one imaginary figure to another. What the world’s poorest have is agricultural kinship-society lives, intersecting with capital at various points. To value that whole existence at the price of its received cash income, land value as commodity etc, is to pre-commodify it, removing all the non-quantifiable value, in a form of circular logic. Such a logic only serves as a precursor to neoliberal developmentalism: the sweeping away of ways of life as a set of intangibles.

That is not to say that such societies do not need, want and deserve better equipment, education, medical services, scientific practices etc. But the misapplication of wealth estimation at both ends is both false and disempowering. The megarich are not worth trillions; they’re mostly a network of grifters using paper value to live a multi-millionaire lifestyle on current account. The real value in the system will be far easier to transform than such hypervaluations suggest – and the excluded poor have lives that could be improved with far less capital than such yawning disparities suggest. Capitalism, the system that could once throw railroads across continents and turn villages into megalopolises, can now, at its old metropolitan centres, barely get a rapid rail line completed in three decades, keep a hospital system going, provide housing, even for the employed. Don’t flatter it. It’s become a pig of a system, and all it’s good for is to provide the lipstick.

North West Makes Her Modeling Debut for Fendi .
Looks like the Kardashian-Jenner gang has a new model in the fam: North West.The legacy fashion house is celebrating the 10th anniversary of the Peekaboo bag, marking the occasion with an inter-generational ad starring Kris Jenner, Kim Kardashian and North West, in a campaign called #MeandMyPeekaboo. But not only does the trio appear in dreamy campaign images together, but they will also be staring in a short film set in Los Angeles, featuring Kanye’s hit song “Love Lockdown” as a soundtrack.

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