Zintle Ramano
May 29, 20202 min
Two months ago a YouTuber Tasha K had reported that Kylie Jenner was in a fact lying about her billionaire status. It caused a media frenzy in November, 2019 when it was revealed by Forbes that the beauty entrepreneur was officially crowned as the world's youngest billionaire from her business venture with Kylie Cosmetics. It has now been revealed by Forbes, that the youngest of the Kardashian-Jenner clan is in fact not a billionaire.
In March 2019 BAAB Media Group released a video Is Kylie Jenner Really Self-Made? Forbes recently named Kylie Jenner the youngest self-made billionaire in the world "ever". Yes, that was literally the headline. So is it really true that Kylie Jenner is self-made? Yes. That part according to Forbes scale is true but, what is false is her billionaire status.
It may be that someone in the family rubbed someone at the Forbes office the wrong way because, the article that was recently published by the respected magazine stipulates and details how the Kar-Jenner clan spewed a "web of lies" as they call it into the write up that would make the "decade-long famous" Jenner the world's youngest self-made billionaire. She sold 51% of her Kylie Cosmetics ownership to Coty in 2019 for and in the fine print the MNE discovered that the company was indeed not worth $600m. The article reveals that the family inflated their revenue numbers and forged their tax returns.
Here are Five Important Things That Forbes Revealed About Kylie's Net-Worth:
Kylie Jenner owns 44.1% of Kylie Cosmetics and not 49%
Kylie Cosmetics has had a 62% decline in sales between 2016-2018
Forbes describes Jenner's tax returns as likely forged
Coty sales went up 40% since 2018, meaning the business generated a revenue of only $125m but, Jenner had claimed it was $360m
Kylie Skin generated $100m in its first month according to Jenner reps, fact is the company generated just $25m in sales
Forbes also states that "The business was never that big to begin with, and the Jenners have lied about it every year since 2016—including having their accountant draft tax returns with false numbers—to help juice Forbes’estimates of Kylie’s earnings and net worth."
Forbes recalculated her net-worth at just under $900m
You can read the full article here