'Forbes' Says Kylie Jenner Faked Her Billionaire Status
- 4 years ago
'Forbes' Says Kylie Jenner
Faked Her Billionaire Status In 2019, 'Forbes' named the 22-year-old
as the youngest self-made billionaire. Now, the publication claims Jenner
was not truthful about her net worth
and that she forged tax returns. 'Forbes' made the accusations in a new
article titled, 'Kylie Jenner's Web of Lies --
and Why She's No Longer a Billionaire.' Jenner was thought to be worth 10 figures after
selling makeup line Kylie Cosmetics for $600 million. 'Forbes' says that the business is much smaller
and less profitable than the Jenner family and
reps have led others to believe. 'Forbes' adds that since 2016, the Jenner family
may have been lying about the business' success. The magazine also cited filings
from beauty company Coty,
which took a 51 percent stake
in Kylie Cosmetics late last year. A Coty filing reveals
that Jenner's makeup line took
in around $125 million in 2018. The Jenner family had previously
said the makeup line took in
$360 million that year. After taxes from the Coty deal and impact from COVID-19,
'Forbes' says Jenner is worth under $900 million. Jenner has since responded to
the magazine on social media. Kylie Jenner, via Twitter Kylie Jenner, via Twitter
Faked Her Billionaire Status In 2019, 'Forbes' named the 22-year-old
as the youngest self-made billionaire. Now, the publication claims Jenner
was not truthful about her net worth
and that she forged tax returns. 'Forbes' made the accusations in a new
article titled, 'Kylie Jenner's Web of Lies --
and Why She's No Longer a Billionaire.' Jenner was thought to be worth 10 figures after
selling makeup line Kylie Cosmetics for $600 million. 'Forbes' says that the business is much smaller
and less profitable than the Jenner family and
reps have led others to believe. 'Forbes' adds that since 2016, the Jenner family
may have been lying about the business' success. The magazine also cited filings
from beauty company Coty,
which took a 51 percent stake
in Kylie Cosmetics late last year. A Coty filing reveals
that Jenner's makeup line took
in around $125 million in 2018. The Jenner family had previously
said the makeup line took in
$360 million that year. After taxes from the Coty deal and impact from COVID-19,
'Forbes' says Jenner is worth under $900 million. Jenner has since responded to
the magazine on social media. Kylie Jenner, via Twitter Kylie Jenner, via Twitter