The Mary Kay CEO Is A Billionaire -- Who's Going To Break The News To Bill Ackman?

50 years after its founding, Mary Kay Inc. — the company famous for rewarding its top salespeople with pink Cadillacs — has made its founder a billionaire.
Richard Rogers was 20 years old when his mother, the eponymous Mary Kay Ash, founded what is now the third-largest direct seller of cosmetics and skincare products, according to Bloomberg.

The company nets annual wholesale revenue of $US3 billion and has 3 million salespeople across the globe.

Rogers owns half of the company, valued at $US2.6 billion.

And the multi-level marketing industry has received a strange amount of attention recently, fuelled by the feud between billionaire investors Bill Ackman and Carl Icahn over the stock of Herbalife, another such company.

From Bloomberg:

About 350,000 Mary Kay businesses were started globally in the past year, including 90,000 in the first quarter of 2013, according to a company press release. About half of Mary Kay’s U.S. sales agents are 35-years-old or younger. March was the company’s highest-grossing month on record.

Who knows if Herbalife will have Mary Kay’s shelf life. Bill Ackman, who is short the stock and has already reportedly lost $US300 million, surely hopes not.

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