Michelle Phan Net Worth

What is Michelle Phan’s Net Worth?

Michelle Phan, an American YouTube star and makeup expert, has amassed a net worth of $50 million. She rose to prominence by posting makeup tutorials on YouTube, and her videos gained immense popularity, accumulating over one billion views and more than eight million subscribers. Phan’s success extends beyond YouTube, as she has authored a book, ventured into entrepreneurship, and received recognition from prestigious lists such as Forbes’ 30 under 30 and Inc.’s 30 under 30.

Highlights

– Michelle Phan has a net worth of $50 million.
– She gained fame through her makeup tutorials on YouTube, accumulating over one billion views.
– Phan authored the book “Make Up: Your Life Guide to Beauty, Style, and Success – Online and Off.”
– Her fashion company, Ipsy, raised $100 million in 2015.
– Phan received recognition from Forbes’ 30 under 30 and Inc.’s 30 under 30 lists.

Early Life

Born on April 11, 1987, in Boston, Massachusetts, Michelle Phan is the daughter of Vietnamese refugees. Her family faced several relocations due to her father’s gambling problem. Following their move to Tampa, Florida, Phan’s father left, and her mother, Jennifer, later divorced Phan’s stepfather due to his abuse. Jennifer, a nail technician, eventually opened her own nail salon, where Michelle spent a significant portion of her youth. Despite her mother’s desire for her to become a doctor, Phan pursued her passion for art and enrolled in art school after graduating from Tampa Bay Technical High School. Financial issues forced Phan to drop out of Ringling College of Art and Design, although she later received an Honorary Doctorate of Arts from the same institution in 2014. Phan has an older brother named Steve and a younger half-sister named Christine.

Career

Michelle Phan began her journey to success by starting a blog about makeup tutorials in 2005. She later transitioned to posting video tutorials on YouTube, officially debuting in May 2007. Her tutorials titled “How to Get Lady Gaga’s Eyes” gained viral attention after being featured by BuzzFeed in 2009 and 2010, propelling her subscriber count to one million. The recognition led to Phan becoming Lancôme’s official video makeup artist in 2010, establishing her credibility in the beauty industry.

In 2011, Phan co-founded MyGlam, a beauty product subscription service that was later renamed Ipsy. To further expand her influence, she launched a multi-channel network called FAWN in 2012. L’Oreal entrusted Phan with her own makeup line, EM Cosmetics, in 2013. Although the initial launch did not perform well due to high prices, Phan bought out L’Oreal’s share and successfully relaunched EM Cosmetics in 2017. She also collaborated with Endemol Beyond USA to create the ICON network online and partnered with Cutting Edge Group to establish a record label called Shift Music Group.

In 2018, Phan founded Thematic, a collaborative platform that allows creators to license music from their favorite artists in exchange for promotion.

Personal Life

Michelle Phan has a sister-in-law named Promise Phan, who is also a beauty YouTuber, and they have made appearances on each other’s channels. In 2015, Phan took a hiatus from YouTube, citing legal trouble, the disappointing launch of EM Cosmetics, and feeling “imprisoned by [her] own vanity” as reasons. She officially ended her hiatus in September 2019. Phan suffers from a pain disorder called Trigeminal neuralgia, which led her to stop wearing foundation. In terms of her romantic life, Phan began a relationship with dancer/model Dominique Capraro in 2010. They initially met online and didn’t have their first in-person encounter until two years later. Although Capraro used to appear in Phan’s videos, she later decided to keep their relationship private.

Michelle Phan faced a lawsuit from Ultra Records in 2014, alleging unauthorized usage of their songs in her YouTube videos. The lawsuit sought $150,000 per song, totaling around $7.5 million. Phan countersued, but both lawsuits were eventually dropped in August 2015 due to a settlement between Phan and Ultra.

Net Worth Over Time

Michelle Phan’s net worth has grown significantly throughout her career. Starting as a waitress in 2006, she gained substantial wealth through her success on YouTube and various business ventures. Her fashion company, Ipsy, raised $100 million in 2015, which contributed to a valuation of $500 million for the company. While specific details on Phan’s net worth growth over time are not available, her success in the beauty industry and entrepreneurial endeavors have undoubtedly contributed to her considerable wealth.

Components of Net Worth

Michelle Phan’s net worth primarily stems from her various professional pursuits. Here are some key components contributing to her wealth:

1. YouTube: Phan’s YouTube channel, with more than one billion views and over eight million subscribers, has been a significant source of income through ad revenue and partnerships.

2. Business Ventures: Michelle co-founded MyGlam, later renamed Ipsy, a beauty product subscription service that raised $100 million, contributing to Phan’s net worth. She also launched Thematic, a collaborative music licensing platform.

3. Book Publication: Phan authored the book “Make Up: Your Life Guide to Beauty, Style, and Success – Online and Off,” which likely generated additional income.

4. Makeup Line: L’Oreal gave Phan her own makeup line, EM Cosmetics. Although the initial launch faced challenges, Phan later relaunched the brand successfully, further contributing to her net worth.

5. Endorsements and Sponsorships: As a popular YouTube makeup guru, Phan likely attracts endorsement deals and sponsorships from various brands, which add to her net worth.

In conclusion, Michelle Phan’s net worth of $50 million highlights her immense success as a YouTube star, makeup expert, and entrepreneur. From her early days as a waitress to becoming a prominent figure in the beauty industry, Phan’s dedication and talent have propelled her to great financial heights. With a diversified portfolio of ventures and significant recognition, she continues to make an impact in the digital and business realms.

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