Kylie Jenner Slams "Inaccurate" Report About Billionaire Status

Lawrence Kim
May 29, 2020

The 22-year-old Keeping Up With the Kardashians reality TV star and beauty mogul, previously named the youngest "self-made billionaire," is being called out for allegedly "inflating the size and success of her business for years".

Now the publication claims Kylie Jenner "spun a web of lies about company figures and forged tax returns to reach mega-money milestone".

Last year, Kylie was declared "The Youngest Self-Made Billionaire Ever" by Forbes after selling a stake of Kylie Cosmetics to Coty Inc., valuing her company at $1.2 billion.

Revenues over a 12-month period preceding the deal: $177 million according to the Coty presentation-far lower than the published estimates at the time. The filings show the line was actually "on track" to finish the year with just $25 million in sales.

In response to Forbes, Jenner wrote in a tweet: "i've never asked for any title or tried to lie my way there EVER". "The negative that came out of that announcement was that the business was a lot smaller than everybody had expected".

But Forbes is now reporting that Jenner and her mother, Kris Jenner, inflated their wealth in documents they provided to the publication.

However, Kylie's not going to dwell on the alleged inaccuracies in the Forbes' article. This matters as a factor into Kylie's net worth.

Forbes reports that she claimed to sell more than $300 million in makeup in 2018, but "in reality, it only did $125 million".

Forbes says Jenner's income is likely just under $900 million. Kylie meanwhile responded to the allegations on Twitter, stating that the piece contained "a number of inaccurate statements and unproven assumptions".

Other reports by Click Lancashire

Discuss This Article

FOLLOW OUR NEWSPAPER