Benzinga | May 19, 2021 04:57PM EDT

Kylie Jenner Says Daughter Stormi, 3, Could One Day Run Cosmetics Empire

Three-year-old Stormi Webster might have the keys to Kylie Cosmetics when she wants them.

On Tuesday, TMRW Magazine released an interview with 23-year-old businesswoman and reality star Kylie Jenner, discussing topics from growing up in the spotlight to becoming a parent to her daughter Stormi.

"Stormi is my legacy," Jenner told the magazine. "I'm raising her to be smart and kind and driven. Maybe she will take over Kylie Cosmetics one day? Only if she wants to."

Jenner's brands Kylie Cosmetics and Kylie Skin are two of the fastest-growing beauty brands on social media.

Facebook's (NASDAQ:FB) Instagram, one of the most popular social media platforms in the world, has a free-to-use model that gives advertisers extended opportunities to reach target audiences. As of 2019, Jenner earns an annual average income of $3.8 million from Instagram, according to Statista.

According to Insider, Jenner sold 51% of Kylie Cosmetics to publicly traded Coty, Inc (NYSE:COTY) in January 2019 for $600 million, implying a value of $1.2 billion.

Jenner was removed from the Forbes 2021 list of billionaires after Coty's subsequent filings showed Kylie Cosmetics to be about half the size Jenner led Forbes and the public to believe.

Kate White is a Benzinga intern.