Women across multiple industries continue to crash ceilings and break barriers through building businesses. In the list of America’s Richest Self-Made Women published by Forbes, ten women have made their fortune, or at least some of it, in the skincare and cosmetics field. It’s a no-brainer that these self-made beauty moguls have amassed an enormous wealth, what with beauty standards and body positivity trends at an all-time high. Today, it’s not just celebrities who look young even as they age, but practically anyone who has the money to invest in products and cosmetic treatments.
Accordingly, the Forbes’ list contains 80 women, including Oprah Winfrey, Diane Hendricks, and Madonna. The trail-blazers we’ve included in this blog, however, are those who made their money in the beauty industry.
#14: Kathy Fields and
Net Worth: $1.5B
Dermatologists Kathy Fields and Katie Rodan have created not one, but two successful brands: Proactiv Solutions and Rodan + Fields. In 2017, Rodan + Fields revenue reached $1.5 billion, with its marketing firm conducting sales through 300,000 ‘consultants’. In 2016, Fields and Rodan sold their Proactiv royalties through a joint venture between Guthy Renker and Nestle.
#21: Anastasia Soare
Net Worth: $1.2B
Anastasia Soare is the icon behind the world-famous make-up brand, Anastasia Beverly Hills. In 2000, Soare has launched the brand starting with a line of eyebrow products. Over the years, Anastasia Beverly Hills has become synonymous with perfect, golden ratio eyebrows. Today, the brand has expanded from eyebrow makeup to eye shadows, lip products, and contouring and highlighting palettes. The company now has more than 480 products selling in over 3,000 stores, with revenues estimated at more than $375 million.
#23: Kylie Jenner
Net Worth: $1B
Kylie Jenner is a celebrity-turned-makeup mogul who is dubbed as the youngest self-made billionaire at age 21. Jenner sold an estimated $360 million worth of Kylie Cosmetics in 2018. That same year, she launched a distribution deal with Ulta, selling an estimated $55 million worth of products in a short span of just 6 weeks.
#36: Huda Kattan
Net Worth: $610M
An influencer and makeup artist, Huda Kattan is the mogul behind Huda Beauty. Starting as a humble blog in 2013, Huda Beauty now sells more than 140 beauty products which rake in at least $250 million annually.
Net Worth: $600M
Rihanna made her mark in the music industry as a pop star. As an entrepreneur today, Rihanna co-owns makeup brand Fenty Beauty, which sold an estimate of $570 million in 2018. Last May 2019, Rihanna and LVMH (the luxury goods company that Rihanna co-owns the brand with), announced the opening of a new fashion house based in Paris. In addition, Rihanna also owns Savage X Fenty, a lingerie line where she partnered with online fashion firm TechStyle Fashion Group.
#47: Jamie Kern Lima
Net Worth: $440M
Formerly a morning news anchor, Jamie Kern Lima is now the CEO of IT Cosmetics, making her the first female CEO in L’Oreal’s history. In 2016, Lima sold her 300-product make-up line to L’Oreal for $1.2 billion in cash. Since then, Lima has invested part of the sale in 12 women-led businesses.
#57: Kim Kardashian
Net Worth: $370M
From starring in reality TV shows, taking social media by storm, and selling mobile games, Kim Kardashian West’s popularity is surely gaining her a fortune. Kim K’s name is always making a buzz around the internet, with lingering issues about her physical transformation through the years. Today, Kim Kardashian West owns KKW Beauty, a 2-year-old cosmetics company. In 2018, KKW Beauty generated more than $100 million in sales.
#74: Karissa Bodnar
Net Worth: $275M
Karissa Bodnar founded Thrive Causemetics, a vegan cosmetics brand. Before starting the company in 2015, Bodnar worked as product manager at L’Oreal, where she sourced raw materials. Thrive Causemetics was built after Bodnar’s friend died from a rare cancer, urging her to formulate “clean” cosmetics for people with compromised immune systems.
#75: Toni Ko
Net Worth: $270M
Toni Ko started NYX Cosmetics, which was then bought by L’Oreal in a $500 million deal in 2014. In 2016, Ko launched a budget-friendly sunglasses company, now called Thomas James LA. Since Ko sold her company, she now invests in commercial real estate in California and in women-owned businesses through her firm, Butter Ventures.