Elf Beauty Net Worth (Updated 2025).

Elf Beauty, a name now synonymous with affordable, high-quality makeup, began its journey in the early 2000s. Founded by Joseph Shamah and Scott Vincent Borba, the company was born out of a simple yet powerful idea: to create professional-grade makeup products at a price point that was accessible to everyone. The duo, with Shamah’s background in cosmetics formulation and Borba’s expertise in marketing, started small, focusing on creating a core range of products that would set them apart in the competitive beauty market.

Their break came in 2004 when they launched their first product, the Studio line, at a drugstore chain. The line, which included foundations, concealers, and powders, was an instant hit due to its impressive coverage and blendability, all at a price tag that was a fraction of what high-end brands charged. Word spread quickly among beauty enthusiasts and professionals alike, and before long, Elf Beauty was making waves in the industry.

Elf Beauty’s Current Net Worth (2025)

As of 2025, Elf Beauty’s current net worth is estimated to be around $1.5 billion.

Career

Founded in 2004 by Joseph Shamah and Scott Vincent, Elf Beauty is renowned for its high-quality, affordable cosmetics. The brand gained popularity through its innovative marketing strategies, such as offering free shipping and a 100% satisfaction guarantee. Elf Beauty’s products are now available in over 13 countries, with a strong presence in the U.S. and Canada.

Other Ventures

In addition to its core cosmetics business, Elf Beauty has expanded into skincare with the launch of its “Holy Hydration” line in 2021. The brand has also ventured into the world of influencer marketing, collaborating with popular beauty gurus like Jackie Aina and NikkieTutorials to create exclusive product collections.

Assets

Elf Beauty’s primary assets include its extensive product portfolio, which consists of over 300 products across categories like eyes, face, lips, and tools. The brand also owns several patents for its innovative packaging designs. Additionally, Elf Beauty’s strong online presence, with over 3.5 million followers on Instagram, is a significant asset.

Annual Income

In 2024, Elf Beauty’s annual income was reported to be around $350 million. The brand’s revenue has seen consistent growth over the years, with a compound annual growth rate (CAGR) of approximately 15% from 2014 to 2024. This growth can be attributed to Elf Beauty’s strong online sales and expansion into new markets.

Frequently Asked Questions about  Elf Beauty

Frequently Asked Questions: Elf Beauty Net Worth

1. What is Elf Beauty’s net worth?

Elf Beauty’s net worth is estimated to be around $1.5 billion.

2. How did Elf Beauty start?

Elf Beauty was founded in 2004 by Joseph Shamah and Scott Vincent Borba. It started as an e-commerce brand, focusing on affordable, high-quality cosmetics.

3. When was Elf Beauty acquired by L’Oréal?

L’Oréal acquired Elf Beauty in 2016.

4. What are some of Elf Beauty’s most popular products?

Some of Elf Beauty’s most popular products include their Holy Hydration range, the 16-Hour Camo Concealer, and their Studio line of brushes.

5. Where are Elf Beauty’s products made?

Elf Beauty’s products are made in various locations around the world, including the United States, China, and Italy.

6. Is Elf Beauty cruelty-free?

Yes, Elf Beauty is cruelty-free and does not test on animals. They are also certified by PETA as a cruelty-free brand.

7. What is Elf Beauty’s pricing strategy?

Elf Beauty is known for its affordable pricing strategy, with most products ranging from $1 to $15.

8. How many products does Elf Beauty offer?

As of 2021, Elf Beauty offers over 200 products across various categories, including skincare, makeup, and brushes.

9. Where can I buy Elf Beauty products?

Elf Beauty products can be purchased through their official website, as well as in-store and online at various retailers, including Ulta, Target, and Amazon.

10. Does Elf Beauty offer any vegan products?

Yes, Elf Beauty offers a wide range of vegan products. They are certified by PETA as a vegan brand, and all their products are labeled as vegan or non-vegan on their website.