Celeb goss 30th May 2020 by Hannah Hillyer
Kylie Jenner Claps Back To Forbes’ Claim That She Isn’t A Billionaire
Forbes magazine have accused her of 'inflating' her wealth.
Last year Kylie Jenner famously graced the cover of Forbes as they proclaimed her the world’s youngest billionaire. Lots was written about it at the time as she was dubbed a ‘self-made’ billionaire which many people disagreed with, given her very famous and wealthy family.
However, just two months after securing the title for the second year in a row, her billionaire status is once again coming under fire.
Forbes is a financial magazine well known for it’s rich lists and rankings of companies, billionaires and celebrities. In a new article they are now claiming the reality TV star is “not a billionaire” and they have made claims that Kylie’s success has been ‘inflated’.
The beauty mogul sold part of her company, Kylie Cosmetics to Coty Inc in 2019. Selling 51% of the business was worth $600 million dollars. Forbes estimate that, after tax, Kylie herself would only receive $340 million from the sale and have said; “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 have reviewed the filings initially released by Coty Inc to get to this conclusion and claim that it is unsurprising; “Of course white lies, omissions and outright fabrications are to be expected from the family that perfected—then monetized—the concept of ‘famous for being famous.’”
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They also claimed that the family have gone to “unusual lengths” to keep Forbes on their side, inviting them to “their mansions and CPA’s offices and even creating tax returns that were likely forged—reveals just how desperate some of the ultra-rich are to look even richer.”
Going into further details they published that they estimated the business “only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe.”
So what do they actually think the 22 year old net worth is? They claim that through their new calculations her fortune is worth a little under $900 million dollars.
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Kylie has of course clapped back at this article, tweeting; “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.”
In a series of tweets Kylie picked apart the claims made against her saying; “I’ve never asked for any title or tried to lie my way there EVER. period.”
However she finished her rant with a more important messages for her followers; “I can name a list of 100 things more important right now than fixating on how much money i have.”
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