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Fortune
Fortune
Chloe Berger

$10,000 debt and zero savings: The untold side of making it as a social media influencer

(Credit: Courtesy of Emma Rose Léger)

Like Athena breaking through Zeus’ head, an icon was born into the blogosphere in the 2010s. She wore a camel hat askew her long ombré hair, skinny jeans, and Valentino Rockstud heels. Known simply as “the influencer," she was the latest evolution of the decades-old goal of becoming a tastemaker or socialite—something that seemed easier than ever to do in the age of social media.

Even if her style wasn't eternal, her influence—or at least her income—was. Some, like Chiara Ferragini and Aimee Song came to earn upwards of $8 million and $5 million, respectively, complete with millions of followers and their own retail brands. Such success put the content creator not just on the map, but on a pedestal of a newly fabled American Dream where anyone could make it by showcasing their individuality. More than a decade after the rise of Tumblr stars, there's a TikTok niche for anyone, whether it’s sharing recipes or outfit ideas or even pretending to be a medieval barkeep. Even now, more than half of Gen Zers would become an influencer if given the chance. No wonder Goldman Sachs analysts project that the creator economy will be worth $480 billion by 2027.

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