Home Entertainment Forbes Reveals Kylie Jenner Is No Longer A Billionaire

Forbes Reveals Kylie Jenner Is No Longer A Billionaire

Kylie Jenner’s billionaire status has been questioned by Forbes. Forbes disclosed today that Kylie is not a billionaire and accused her of creating a ‘web of lies’. Forbes declared that she lied about the company’s figures and forged the tax returns to achieve the status of the billionaire.

The publication itself declared her the youngest self-made billionaire earlier and put her on the magazine cover.

Kylie dumped 51% of her Kylie cosmetics to beauty giant Coty in a deal valued 1.2 billion in January. Forbes now stated that the filings released by Coty disclosed that she has a very small business then people have been led to believe.

Coty revealed that sales were up 40% from 2018 and only generated about $125 million that year which is far less than the $360 million that Jenner had led Forbes to believe.

In 2019, Kylie achieved the title of a youngest self-made billionaire at the age of 22 and unseated Zukerberg who was the youngest billionaire who earned his first billion at the age of 23.

Kylie started her cosmetics business in 2015 by selling $29 lipsticks kits. People bought the kits within minutes of launching. Her products were only available online when it was first launched in 2018. But she later made a deal to sell its goods to 1100 ultra beauty stores in the US.

She added the line of moisturizers, under-eye creams, and facial scrubs this year. In 2018, she revealed she has generated sales of $360 million.

Kylie slammed Forbes and released the statement. She tweeted: “All I see are a number of inaccurate statements and unproven assumptions. I’ve never asked for any title or tried to lie my way there ever.”

She continued: “Even creating tax returns that were likely forged that’s your proof? So you just thought they were forged?”

Kylie said she has a beautiful daughter and successful business and she is happy with her life in the response to Forbes statement.

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