How the Beauty Mogul Built Her Fortune
Michelle Phan net worth: she is a name that is synonymous with the beauty industry. With millions of fans around the world, she has become one of the most successful beauty influencers of all time. But just how much is Michelle Phan’s net worth? In this article, we will take a closer look at her background, her career achievements, and her estimated net worth.
Who is Michelle Phan?
Michelle Phan was born in Boston, Massachusetts, in 1987. She grew up in a family of Vietnamese immigrants and discovered her love for makeup at a young age. Michelle Phan’s net worth: How the YouTube Beauty Guru Became a Millionaire
Michelle Phan is a name that has become synonymous with beauty, makeup, and entrepreneurship. The Vietnamese-American YouTuber gained fame and success through her beauty tutorials, and today she is a millionaire. In this article, we will take a closer look at Michelle Phan’s net worth, how she became famous, and her entrepreneurial journey.
How did Michelle Phan become famous?
Michelle Phan first became famous in 2007 when she uploaded her first makeup tutorial on YouTube. The tutorial was a step-by-step guide on how to achieve a natural makeup look. The video was an instant hit, and it led to Michelle creating more beauty tutorials, which attracted a massive following. As of 2023, Michelle Phan has over 8.9 million subscribers on YouTube.
Michelle Phan’s Entrepreneurial Journey
In addition to her YouTube channel, Michelle Phan has built a beauty empire. In 2011, she co-founded the subscription-based beauty product company, Ipsy. For a monthly subscription fee, the company sends its members a bag of beauty products tailored to their preferences.Ipsy has since become one of the largest subscription-based beauty product companies in the world, and as of 2023, it has over 3 million subscribers.
Michelle Phan also launched her makeup line, Em Cosmetics, in 2013. The brand offers a variety of products, including lipsticks, eyeliners, and blushes. Michelle later sold Em Cosmetics to L’Oreal in 2017, which helped her further increase her net worth.
Michelle Phan Net Worth
According to Celebrity Net Worth, Michelle Phan net worth is estimated to be $80 million as of 2023. Her primary source of income is her beauty empire, which includes her YouTube channel, Ipsy, and Em Cosmetics. Additionally, Michelle has collaborated with various brands, including Lancôme, Dr. Pepper, and Visa.
The Lessons to Learn from Michelle Phan’s Success
Michelle Phan’s success is an inspiration to many aspiring entrepreneurs. Her journey is a testament to the power of hard work, creativity, and persistence. Here are some lessons that we can learn from her success:
- Follow your passion. Michelle dropped out of college to pursue her passion for beauty, and it has paid off.
- Embrace social media: Michelle’s YouTube channel helped her gain fame and build a following.
- Be persistent: Michelle’s success did not happen overnight. She continued to create content and build her brand despite the challenges she faced.
Conclusion
Michelle Phan is an icon in the beauty industry and a role model for many aspiring entrepreneurs. Her net worth is a testament to her hard work, creativity, and perseverance. Michelle’s journey started with a simple YouTube video, but she was able to turn her passion for makeup into a successful beauty empire. Her story is an inspiration to anyone who wants to start their own business and make their dreams a reality.
FAQs about Michelle Phan net worth
Michelle Phan has not disclosed how much money she has earned from her YouTube channel. However, it is estimated that she has made millions of dollars from advertising revenue and sponsorships.
Ipsy is a subscription-based beauty product company that was co-founded by Michelle Phan in 2011. For a monthly subscription fee, the company sends its members a bag of beauty products tailored to their preferences.Michelle co-founded Ipsy with Marcelo Camberos and Jennifer Goldfarb.
The financial details of L’Oreal’s acquisition of Em Cosmetics have not been disclosed. However, it is rumoured that L’Oreal paid between $50 million and $100 million for the brand.
In addition to Ipsy and Em Cosmetics, Michelle Phan has pursued other business ventures, including a book, a music album, and a video game. She has also collaborated with various brands, including Lancôme, Dr. Pepper, and Visa.
Michelle Phan is still active in the beauty industry, and she continues to create content for her YouTube channel. She is also a motivational speaker and has spoken at various events, including the Forbes Under 30 Summit and the Create & Cultivate conference.