Kylie Jenner will sell the majority of her cosmetics company for $600 million (£463 million).
The 22-year-old’s brand, including Kylie Cosmetics and Kylie Skin, will be controlled by beauty giant Coty.
Kylie says she is building the brand into an “international beauty powerhouse”.
Forbes reported that she made $360 million in sales in 2018, making her the youngest self-made billionaire ever.
The chairman of Coty’s board called Kylie a “modern-day icon, with an incredible sense of the beauty consumer”.
Her online influence is so powerful that she reduced Snapchat’s stock market value by $1.3bn (£1bn) when she tweeted that she does not use the app anymore.