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

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.

News that Kylie Jenner may become the world’ s youngest female billionaire shows us once again that capitalism is a good 14 comments . Leave a comment Cancel reply. The articles about Kylie Jenner ’ s “ fortune ” based on an inflated valuation someone has invented for her cosmetics company

But it' s more than scale. Jenner wisely defers to the Nelsons' know-how rather than develop and test new formulas, a process that can take up to six Kylie Cosmetics' growth is already starting to taper off: After leaping to 7 million in 2016, revenue grew just 7% in 2017, despite the addition of 30

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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.

Is Kylie Jenner really worth 0 million? What does that even mean? The question is worth posing, especially on the left.

At 20, Jenner has amassed 0 million by capitalizing on her family’ s reality show (and the Kardashian- Jenner name, fame and fortune that comes with it) by developing her uber-successful makeup company Kylie Cosmetics, which first launched in 2015 and sold out in one minute.

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.

While the 20-year-old may soon be worth $ 1 bn thanks to her cosmetics empire, the fetishisation of youthful entrepreneurs masks the lack of opportunity for most millennials.

That' s right, she just needs a cool 0m to reach billionaire status - and some people are so eager for her to reach it, that they're donating money to her in a crowdfunding Obviously it all sounds like it' s just a bit of a piss-take (" I don't want to live in a world where Kylie Jenner doesn't have a billion dollars.

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.

Most of Jenner ' s fortune comes from her cosmetics brand, Kylie Cosmetics, which sells lip kits and other makeup. The company is worth 0 million, per Forbes' estimate, and Jenner owns all of it. The other loose 100 mil comes from endorsements, tax dividends, and of course, her family' s reality show

We might have viewed Kylie Jenner ’ s success differently if she were named Kyle. It didn’t take long for Kylie Jenner to become the latest target of the internet outrage machine this week after Forbes bestowed the That’ s despite being one of the most recognizable fashion startups in the country.

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.

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.

At just 20 years old, Kylie Jenner is on track to become the youngest ever self-made billionaire, having built a 0 million fortune off her makeup empire in just three years. In other words, nearly all of the profits go straight to Kylie . "As ultralight startups go, Jenner ' s operation is essentially air.

Kylie Jenner ’ s ‘ fortune ’ is just one of capitalism ’ s many mirages . Helen Razer and Lauren Rosewarne offer points for both sides. 24 comments . Join the conversation Cancel reply. The Crikey comment section is members-only content.

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.

This is how Kylie Jenner got that massive scar on her leg .
Have you seen Kylie Jenner's massive scar - it's visible on her GQ cover with Travis Scott. She explains how she got the scar in a new interview.GRAPHIC WARNING: The following story contains content that may be distressing for some readers

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