Ipsy Founder Michelle Phan’s Net Worth
Michelle Phan is the single most subscribed to beauty channel on YouTube. She has made herself a big name over the course of a decade, and has done incredibly well financially for doing such. Thanks to her 6.7 million YouTube subscribers, her own line of makeup and her co-owned monthly beauty subscription service, Ipsy, she has earned a net worth of $3,000,000.
Phan’s big money-maker, Ipsy, was started by her in response to her fans and subscribers asking her about the products she used for her tutorials. For $10 a month, Ipsy’s 700,000 subscribers receive “Glam Bags,” once a month. Each bag is different and based on user profiles contains five sample products from different beauty brands. Since she developed it, Ipsy now has an annual run-rate of $84,000,000. The business is so popular, in fact, that there are wait lists to subscribe.
It goes without saying, then, that Phan has done well for herself, but she has not done it all without controversy. Phan is currently being sued for copy-right infringement from Ultra Records/ Ultra International Music Publishing for using their EDM songs in her videos without permission. Phan claims she received permission to use the songs year ago before her peak in popularity, but she is nonetheless being sued for $150,000 per copy right infringement. That kind of asking price can amount to some serious financial losses if Phan is found guilty. Even a net worth of $3,000,000 might not be able to sustain that kind of financial penalty.
