Forbes, in a recent announcement revealed that reality TV star and makeup mogul Kylie Jenner is no longer a billionaire. This comes after the 22-year-old was crowned with the title for the second year in a row.
Jenner first made it onto the billionaires list in March 2019, then further cemented her spot in November, when she agreed to sell 51 per cent of her Kylie Cosmetics to beauty giant Coty Inc. for 600 million USD.
The deal, which closed in January, valued her business at about 1.2 billion USD. The cash from the sale and her remaining 49 per cent share of the company made Jenner one of just 2,095 people in the world with a ten-digit fortune.
Now, a fresh report by suggests that after Coty released its filings publicly it revealed that Kylie’s business is “significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets to believe.”
The report further added that “white lies, omissions and outright fabrications” are expected from a family that made money over the concept of famous for being famous, and that the Jenners have gone to the lengths of “creating tax returns that were likely forged.”
Kylie reacted to the news and wrote on Twitter, “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 title or tried to lie my way there EVER. Period. “Even creating tax returns that were likely forged” that’s your proof? So you just THOUGHT they were forged? Like actually what am I reading."
“But okay I am blessed beyond my years, i have a beautiful daughter, and a successful business and I’m doing perfectly fine. I can name a list of 100 things more important right now than fixating on how much money I have," she added.
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 title or tried to lie my way there EVER. period
7,513 people are talking about this
“even creating tax returns that were likely forged” that’s your proof? so you just THOUGHT they were forged? like actually what am i reading.
3,349 people are talking about this
but okayi am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine.
6,051 people are talking about this
i can name a list of 100 things more important right now than fixating on how much money i have
15.4K people are talking about this
Jenner started her cosmetics empire in 2014. She turned her social media following into a dedicated customer base by using about 250,000 USD of modelling earnings to pay an outside company to produce Kylie-branded lip kits –29 USD packages of lipstick with matching lip liner. The first batch of 15,000 lip kits sold out within the first minute.
Kylie is the highest earner in the family. She faced backlash after being named a "self-made" billionaire, but defended herself saying that none of her money has come from inheritance.
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