Last year, Kylie Jenner was touted as the world’s youngest self-made billionaire in a Forbes report. However, the magazine has now released its investigation into the matter and said that she has been “inflating the size and success of her business”.
Forbes reports that Jenner is closer to a $900 millionaire and is not a billionaire that she and her team led the world to believe. On Friday, Forbes put out a very different headline: “Inside Kylie Jenner’s Web of Lies — And Why She’s No Longer a Billionaire.”
“Kylie’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,” the magazine said in the story. “Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire.”
In November 2019, Coty Inc announced that they were buying a majority share in Kylie Cosmetics, taking a 51 per cent stake in the business, for US$1.2 billion.
However, the 22-year-old has hit back at the publication on Twitter.
“What am I even waking up to,” she tweeted. “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.
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
— Kylie Jenner (@KylieJenner) May 29, 2020
“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.
— Kylie Jenner (@KylieJenner) May 29, 2020
but okay i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine.
— Kylie Jenner (@KylieJenner) May 29, 2020
i can name a list of 100 things more important right now than fixating on how much money i have
— Kylie Jenner (@KylieJenner) May 29, 2020
However, Forbes spokesman, Matthew Hutchison, issued a defence of its investigation into “newly filed documents that revealed glaring discrepancies between information privately supplied to journalists and information publicly supplied to shareholders. Our reporters spotted the inaccuracies and spent months uncovering the facts.”
Now, another publication has alleged that the Jenner camp has been “freaking out” about these allegations.
A source has told the Sun: “Kris and Kylie are freaking out and fear that this is going to hurt their brand, and even worse, they could be in trouble with the government.”
She’s the daughter of Olympian Caitlin Jenner and Kris Jenner and sister to Kim Kardashian West, who’s married to music mogul turned designer Kanye West.
