Michelle Phan Net Worth
Michelle Phan has an estimated net worth of $50 million. Michelle Phan is a beauty pioneer and vlogger, and is considered one of YouTube’s biggest success stories. She earns most of her income from brand endorsements and YouTube.
Michelle Phan, a Vietnamese-American beauty pioneer, is one of YouTube’s biggest success stories. Phan, who launched her YouTube channel in 2006, was one of the first to gain a large audience and has been dubbed the “first YouTuber” and the “Beyoncé of the beauty-vlogging world.” Forbes valued her company, Ipsy, which mails beauty products to subscribers, at $500 million, and she is a partner in the lifestyle network Icon.
Phan recently relaunched her cosmetics brand, Em, which failed the first time around; the backlash she received as a result of its failure caused her to quit YouTube and social media for the majority of 2016. She has chosen to operate largely behind the scenes since then, despite remaining a powerful and influential businesswoman.
To calculate the net worth of Michelle Phan, subtract all her liabilities from her total assets. Investments, savings, cash deposits, and any equity she has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of her net worth:
|Net Worth:||$60 Million|
|Monthly Salary:||$1 Million|
|Annual Income:||$10 Million|
|Source of Wealth:||Makeup Artist, Vlogger|
Phan was born on April 11, 1987, in Boston, Massachusetts. Both of her parents were Vietnamese refugees. Her father was a compulsive gambler who frequently squandered their rent money, so the family was constantly on the move and occasionally had to rely on food stamps. “We’d get evicted every few months,” Phan told Glamour magazine. “My brother and I never slept in the same bed for very long.” The family relocated ten times in one year. They eventually made their home in Tampa, Florida.
Her father abandoned her when she was six years old. Months later, her mother met another man, who later became Phan’s stepfather; Phan describes him as “incredibly controlling.” According to an interview she gave to Nylon magazine, only English was allowed to be spoken in the house, and friends were not allowed over: “He didn’t want us to clean the house because he believed in organized chaos.” “It was disgustingly filthy,” she remarked. Phan would stay late at school to escape her troubled home life, but she was bullied. She retreated into art and creativity, describing it as her “happy place in my head.”
Phan’s mother was a nail technician who eventually opened her own business, and she spent a lot of time as a child “growing up in a nail salon, surrounded by magazines, makeup, and colors,” she told Refinery29.com. Phan grew up before beauty videos became popular on the internet.
She learned about makeup from books by Laura Mercier and Bobbi Brown, among others; because she couldn’t afford the books, she would spend time browsing in Barnes & Noble. Her mother tried to steer her away from a career as a makeup artist and toward a career in medicine. Despite having spent “my entire life preparing to be a doctor,” Phan eventually enrolled in art school instead.
Makeup Tutorials on YouTube
When Phan started blogging about beauty on the Xanga platform in 2005, she made up an alternate backstory in which she “depicted myself as the girl I wanted to be, with money and a wonderful family.” “But it was all a sham,” she admitted to Glamour magazine. Nonetheless, she had 10,000 regular readers.
She started her YouTube channel in 2006, during her first semester at Ringling College of Art and Design in Sarasota, Florida, with a laptop given to her for school. She dropped out of college in her second semester because she couldn’t afford to continue paying tuition — her first semester had been paid for by relatives. She worked as a waitress to make ends meet. (In 2014, Ringling awarded her an honorary doctorate.)
Phan’s first video was a “natural makeup” tutorial that received 40,000 views in a single week, a huge number for someone who was previously unknown. Her strategy was to increase her YouTube popularity in order to increase her chances of getting a job. “Never in a million years did I think it would be like this,” she said after her meteoric success. After a year, Phan’s debut video had over 1 million views. She was accepted into YouTube’s partner program, which allows content creators to monetize their work by hosting advertisements on their page.
Phan’s channel had 600,000 views per month by the fall of 2008. As a trickle of YouTube royalties became a flood, Phan dedicated her life to her channel, filming, editing, and uploading two videos per week before relocating to Los Angeles to focus on her work. Her celebrity-themed videos were a huge success, with 66 million views for her Barbie tutorial and 55 million views for her Lady Gaga “Bad Romance” tutorial. “My entire life was just working,” she explained to Refinery29.com. “I didn’t go out or have a social life.” I knew that if I wanted this, I would have to make a sacrifice.”
Ipsy Launch and Partnering With Lancôme and L’Oréal
Her collaboration with Lancôme began in 2010, with Phan producing monthly video tutorials featuring the beauty brand’s products. (Ironically, she had applied for a job at the Lancôme counter in a department store a few years before — and had been turned down because of a lack of sales experience.)
That same year, Phan started working on Ipsy, her make-up company. Ipsy sends “glam bags” to $10-a-month subscribers who receive new products; unsold items are donated to charities. Forbes valued the company at $500 million in 2015, and it received a $100 million investment, which helped fund a variety of new projects, including Ipsy Open Studios, a 10,000 square foot space in Santa Monica where beauty vloggers can shoot professional content. In addition, Phan collaborated with Endemol Shine Group to launch Icon, a multi-platform lifestyle network devoted to beauty, lifestyle, and entertainment.
L’Oréal approached Phan in 2013 to launch Em (a Vietnamese word for “little sister” or “sweetheart”), a sprawling new cosmetics line that grew to include more than 200 products. Phan had creative control over the concepts and colors, but the price point was too high for her young target audience — some items reportedly cost $50. “I was really trolled online,” she told Teen Vogue. “I had Reddit threads dedicated to slamming it.” The brand failed, but Phan announced in 2015 that she was buying out L’Oréal’s share for an undisclosed sum.
The online shaming Phan received for Em’s failure had a negative impact on her mental health, and she began to post less on social media before quitting entirely in 2016. For the majority of the year, she did not post any photos or videos to Instagram or YouTube. “It’s terrifying because you could become obsolete. If you don’t post a video or stay updated, you’ll be obsolete in a month “she wrote for Teen Vogue Her desire for a break, however, outweighed her fears. “I packed a suitcase — my entire life — in one suitcase and just left.” I didn’t even inform anyone. Everyone was freaking out, including my business partners and board members…” She spent her time traveling the world, visiting Europe and Africa, and soon “all my worries and struggles felt like nothing.”
Later Career and Leaving Ipsy
Phan is an accomplished musician who can play the trumpet and piano, and her artistic abilities extend beyond makeup. Helios: Femina, an online digital comic book she launched in March 2016, ran for 26 weekly episodes. The plot revolved around Rhea, a young girl who uses music and sound to save humanity.
Em, her cosmetics line, was relaunched in April 2017. This time, Phan offered a much smaller and more affordable collection of just ten products divided into two categories: liquid eyeliners and creamy liquid lipsticks. She collaborated with five influencers — Jessica Stanley, Roxette Arisa, Jade Simmone, Mariah Leonard, and her own sister-in-law, Promise Phan — to serve as brand ambassadors, freeing her up to focus on the business behind the scenes. Her time away appears to have restored balance and perspective to Phan’s fast-paced life.
“Who I was on camera and who I was in real life began to feel like strangers,” she said in a YouTube video on her channel, without irony. “I spent my entire life chasing success, only to find myself running away from the one thing that really mattered: myself.”
Phan announced in September 2017 that she was leaving Ipsy to focus solely on Em, which is now managed by the vlogger’s new company Divinium Labs, LLC.
“As CEO of EM Cosmetics, I will be able to realize my vision of building a global beauty brand through innovative R&D and increased vertical integration,” Phan said in a statement.
In 2011, Phan co-founded Ipsy with CEO Marcelo Camberos and president Jennifer Goldfarb. The company will continue to operate and expand its platform without her.
Before meeting in person, Phan had a two-year long distance relationship with model Dominique Capraro. Capraro eventually appeared in one of Phan’s YouTube videos, “My Boyfriend Does My Makeup,” in 2013, applying makeup on her.
However, because Phan maintains strict confidentiality about her personal life, it is unknown whether the couple is still together. During an interview in January 2016, she made some of her last remarks about Capraro.
“He’s no longer in my videos; I’ve decided to keep our relationship private.” “She stated. “As I grew older, I realized that there were some aspects of my life that I wanted to keep private. However, just because something isn’t on Instagram doesn’t mean it doesn’t exist.”
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