Kylie Jenner Is No Longer A Billionaire: Forbes Confirmed!!

‘Money is the Power,’ Especially in the present context; it is inevitable that those with money have a higher status in society. Just look at Kylie Jenner, the youngest of The Kardashian family, who became the ‘World’s Youngest Self-made Billionaire’ as stated by Forbes in March 2019.

However, just today, Forbes announced or instead denounced the said celebrity from the title and even accused the Jenner of “inflating the size and success of her business.”

Kylie Jenner and Forbes
Kylie Jenner was announced as the “World’s Youngest Self-made Billionaire” by Forbes.

Published on Friday, Forbes released a report titled “Kylie Jenner’s Web of Lies.” The stories reference the documents obtained from Coty, the company that purchased 51 percent of Jenner’s cosmetic brand Kylie Cosmetics in November of last year for a whopping $600 million.

Kylie Jenner’s Web of Lies

So how come Forbes that listed Kylie as the youngest billionaire a year ago, claims she is no longer one now? Well, as the report states, the initial documents that Jenner showed exceeded their actual worth.

In other words, Forbes states Jenner’s business is “significantly smaller and less profitable than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe.

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They further explained that the revenue number for Kylie Cosmetics doesn’t add up. According to Coty’s presentation, the revenue showed by the beauty mogul was far less than the published amount at the time.

The report also states,

“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.”

None of the numbers that Jenners were peddling a year earlier could be true considering how small the business is. Though they were unable to prove the documents were fake, it’s clear that the whole Kylie’s camp has lied to them.

The Kardashian Family
The Kardashian-Jenner Family

Talking about lies, Forbes also referenced the dealings that took place between these two. And how the Kardashian-Jenner family took instead “unusual” lengths to convince the outlet of Jenner’s net worth.

Of course, this included “inviting Forbes into their mansions and CPA’s offices and even creating tax returns that were likely forged,” stated Forbes.

Moreover, Forbes accused Jenner Camp of lying about her share in the company. Previously, it was mentioned the 22-year-old held 49 percent of the share when the reports found it in a small share of 44.1 percent only.

Kylie Jenner Is Still A Millionaire

Despite all the likely forged documents and false information, also taking the pandemic into factoring, Jenner is “not a billionaire” but still a millionaire.

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In the published report Forbes wrote,

“A more realistic accounting of her personal fortune puts it at just under $900 million, despite the headlines surrounding the Coty deal that seemed to confirm her billionaire status.” 

The former “billionaire” Lashes Out In Social Media.

Even after the decade into their fame, the Kardashian-Jenner family is still influential in Hollywood. However, the cash they generated has always been the subject of many articles and gossips.

Similarly, many expected the lies and fabrications from the family whose whole concept was “famous for being famous.” After the news broke out about Kylie’s business, many skeptical people expressed their opinion about the brand and the whole fiasco.

However, one person was not happy about the news, especially of being no longer a billionaire. After the reports dropped, Jenner was quick to go on Twitter and lashed out at Forbes of “inaccurate statements and unproven assumptions.”

The beauty mogul further wrote,

“What am I even waking up to. I thought this was a reputable site… All I see are a number of inaccurate statements and unproven assumptions lol. I’ve never asked for any titled or tried to lie my way there EVER. period.”

Likewise, even Jenner’s attorney weighed in and described the report, which took months to investigate “filled with outright lies.”

Though it seems quite superficial to judge based on forged documents, which we may remind you to have no evidence of, a reputed tabloid-like Forbes would likely make an assumption so easily.

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Whatever the issue is, we have other problems to deal with right now. As the former billionaire Kylie stated, “I can name a list of  things more important right now than fixating on how much money I have.

Do share your thoughts on this.

 

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