Kylie Jenner Responds To Forbes' Claim That She's No Longer A Billionaire

Carla Harmon
May 29, 2020

In a report shared on the official website of Forbes, the reality TV star and cosmetic guru is said to have altered the figures of her wealth.

Ms Jenner previous year announced she was selling a 51% stake in the company to beauty giant Coty for $600m. All I see are a number of inaccurate statements and unproven assumptions lol.

The Forbes article kicks off by talking about how after Kim Kardashian landed the July 2016 cover, Kylie's publicists started campaigning to get a cover for Kylie.

Forbes magazine, which branded Kylie Jenner the "youngest-ever self-made billionaire", is stripping her of the title in a dramatic fashion.

In 2019, Jenner was announced as the youngest self-made billionaire by Forbes.

"She also wrote "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".

Revenues were $400 million over the business' first 18 months, they said, with a personal take-home of $250 million for Kylie.

"It's clear that Kylie's camp has been lying", Forbes reported.

Reacting to the magazine's claims, Jenner wrote on Twitter, "I can name a list of 100 things more important right now than fixating on how much money I have". She also pointed out that there is "a list of 100 things more important right now than fixating on how much money i have" and that "this is literally the LAST thing i'm anxious about right now". "The filings show the line was actually "on track" to finish the year with just $25 million (N48.3 billion) in sales". In a call with stock analysts, Coty showed revenues for the company were $177 million for the year before their deal.

"More problematic, Coty said that sales were up 40% from 2018, meaning the business only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe", the magazine wrote.

Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after-tax from the sale, is not a billionaire.

Other reports by iNewsToday