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Shocking!!! Forbes Reveals Kylie Jenner Faked Her Way To Billionaire Status

On May 29, the business magazine released an article claiming that the Kylie Jenner Cosmetics mogul fabricated its billionaire status by misleading on tax returns and inflating their company's success.

30th May 2020 | 03:20 AM (IST)
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Kylie Jenner reportedly used fake tax returns to win the crown of Forbes' youngest-ever self-made billionaire a coveted headline yanked on Friday by the money magazine.

Forbes released a scathing article claiming the 22-year-old sensation and her "momager" Kris Jenner of lying about her uber-successful makeup company, Kylie Cosmetics, Kylie's net worth, and earnings. Forbes now predicts that Kylie is worth just under $900 million a year after making her the youngest billionaire title at 21 years of age.

Also Read: Drake Apologized After Calling Kylie Jenner His 'Side-Piece' In An Undisclosed Song

“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,” said the magazine.

After offloading Kylie Cosmetics – born from her famous $29 lip kits launched in 2015 – to beauty giant Coty for $600 million, Kylie all but cemented the youngest-ever self-made billionaire label in November. The offer had been valued at $1.2 billion, Forbes reported.

Forbes said documentation was provided showing the company made $360 million in 2018 and $330 million a year earlier.

In fact, filings from CoverGirl's parent company, the publicly traded Coty, showed Kylie Cosmetics did $125 million in 2018.

The 22-year-old fired back quickly in a series of tweets just hours after the story went online. “What am i even waking up to. i thought this was a reputable site..” she continued. “All i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period.”

Then the youngest KarJenner sis quoted a line from the story — titled “Inside Kylie Jenner’s Web of Lies — and Why She’s No Longer a Billionaire” — as she continued her rant on Twitter.

“‘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,”  she wrote before ending, “But okay I am blessed beyond my years, I have a beautiful daughter, and a successful business and i’m doing perfectly fine.”

The Keeping Up With The Kardashians Star then further  said, “I can name a list of 100 things more important right now than fixating on how much money I have.”

While the exact figure may be in dispute, but it's evident that there are multiple zeroes in Kylie's bank account.

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30th May 2020 | 03:20 AM (IST)
96 views
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