So Forbes publishes a profile of Kylie Jenner claiming that she may become “the youngest self-made billionaire ever” and the internet lashes back because she is a Kardashian and, in at least one person’s words, has had an “incredible head start.”
The story got me thinking: I wonder what Kylie Jenner’s legacy is going to be?
Kylie will turn 21 this year, and already she has amassed a fortune estimated by Forbes to be $900 million, including her cosmetics company Kylie Cosmetics, estimated to be worth $800 million. Yet, despite her success, Kylie is the subject of much ridicule.
The youngest member of the Kardashian clan, Kylie essentially grew up in the public eye.
She was only 10 years old when Keeping Up With The Kardashians—the reality TV show that really catapulted the Kardashians to global fame—first aired.
The Kardashians have forever been a family criticized as “famous for being famous,” a phrase meant to suggest that a person has attained fame without having any particular skill or talent, or without having personally accomplished anything of any relevance. Will the cloud of “famous for being famous” forever hang over Kylie’s head?
Despite how much money she makes, will Kylie’s legacy ultimately be that she was just a child reality-tv star who leveraged her fame into a get-rich-quick scheme by selling beauty products to the masses?
The answer, of course, is that all depends on Kylie and the choices she makes in building her legacy.
The problem is that most celebrities like Kylie do not have a legacy plan.
They do not have a blueprint or the architecture required to empower the celebrity to be intentional and purposeful in building the legacy they desire. Instead, the focus is purely on making money—a lot of money. Why?
Because the entertainment business is just that—a business. It is there to make deals, close transactions and make money.
No fault or shame there—Kylie’s entertainment lawyers, agents, managers, business managers, etc., are all doing a great job because they are making her a lot of money. However, people in the entertainment business are not in the legacy planning business. It’s not how they think, it is not how they are trained, and it is certainly not how they get paid. Simply put, it’s just not their job, so let’s not blame them for it.
Talk to any entertainment professional about “legacy” and they will almost immediately start using the word “brand.”
The two are entirely different, but that is just how the entertainment world views talent—as a commodity or brand. Not that there is anything wrong with that (to quote Seinfeld).
Please understand me, there is absolutely nothing wrong with making a lot of money—I pass no judgment on anyone making an honest buck.
However, money without direction or application is valueless and, more importantly, potentially dangerous.
The key difference between a brand and a legacy is highlighted by the quote from Mintel’s Sarah Jindal in the Forbes profile of Kylie Jenner. Referring to Kylie Cosmetics (Kylie’s cosmetic company) and KKW Beauty (sister Kim’s cosmetic company) she says: “They’re not looking to be sustainable brands….In a couple of years it wouldn’t surprise me if she was on to something else. When you are leveraging your name, you can turn it into anything you want to sell.”
The author immediately follows the quote in her concluding paragraph with a question: “When you can make such quick cash, who needs a big exit?” Right.
This is exactly true for brands, but not for legacies. Unlike a brand, your legacy is by definition sustained at least for your entire lifetime (if not longer). While your legacy may certainly evolve over time, there is no going “onto something else.” You only have one life, one legacy.
Unlike any brand that may be a part of your legacy, there is absolutely no exit from your legacy.
You simply cannot escape who you are. That said, you can certainly be strategic in creating your life and becoming the person you ultimately want to be, which will in turn be the legacy you leave behind.
That is true legacy planning—the creation of a plan, the implementation of a vision, the accomplishment of a life lived intentionally with purpose and direction.
I am intrigued by Kylie Jenner’s legacy because I see so much opportunity and potential.
Before the age of 21 years she has achieved global fame and the complete financial freedom to do whatever she wants.
I, for one, cannot wait to see what she chooses to do with that freedom.
Will she emerge as a serious business mogul overseeing a vast media and beauty empire?
Will she become a symbol of women empowerment and entrepreneurship? Will she be an actress and media personality?
Will she retreat to a quiet family life outside of the public eye? Will she ever overcome the stigma of being “famous for being famous?
