Kylie Jenner sells half of Kylie Cosmetics for staggering $600 million

Kylie Jenner has sold a 51 percent share in her wildly popular makeup brand, Kylie Cosmetics, for a whopping US$600 million. 

According to The Wall Street Journal, the Keeping Up With The Kardashians star made the deal with makeup Coty Inc, which own CoverGirl and Max Factor. 

Kylie Cosmetics was founded by Jenner in 2015, which she reportedly put up US$250,000 of her own modelling earnings to start. 

Since then, the colossal success of her Kylie Lip Kits and other products helped earn her the title of the Youngest Self-Made Billionaire, as per Forbes.

Until recently, Jenner owned 100 percent of Kylie Cosmetics, which recently expanded to include a skincare line. 

The company is now valued at a reported US$1.2 billion. Jenner made a statement about the sale on Twitter, writing: "This is only the beginning!" 

"I can't wait for all of the amazing things to come for @kylieskin and @kyliecosmetics! I'm excited to partner with @cotyinc to continue to expand my brands globally." 

The 22-year-old makeup mogul caused a stir online with a recent tour of the luxurious Kylie Cosmetic offices, which include a playroom for her daughter Stormi and a private photo studio.