Kylie Jenner reacts after being stripped of billionaire status by Forbes Magazine

Posted by News Express | 30 May 2020 | 724 times

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•TV personality, Kylie Jenner

Forbes now thinks that Kylie Jenner is not a billionaire. The Kardashian-Jenner family member was announced to be a “self-made” billionaire by the magazine in July 2018, the youngest ever.

The 20-year-old cosmetics entrepreneur, who was on the cover of Forbes magazine in July of 2018, at the time claimed that she had accumulated $900 million in three years from Kylie Cosmetics. Forbes said that Jenner owned 100% of the company, and forecasted that her net worth will likely pass $1 billion within 2019.

In a post on Friday, Forbes explained why she was no longer a billionaire, adding that the Jenners would go to any length to be famous.

The magazine, however, noted that Jenner had sold 51% of her Kylie Cosmetics to Coty in a deal valued at $1.2 billion in January 2020, that transaction seemed to confirm that Jenner was a “billionaire—at least before the coronavirus.”

Jenner responded to Forbes’s retraction of her billionaire status on Friday in a series of tweets saying, “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. I’ve never asked for any title or tried to lie my way there EVER. Period.

“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.

“But okay White heart I am blessed beyond my years, I have a beautiful daughter, and a successful business and I’m doing perfectly fine.”

“I can name a list of 100 things more important right now than fixating on how much money I have”.

i can name a list of 100 things more important right now than fixating on how much money i have

— Kylie Jenner (@KylieJenner) May 29, 2020

In vindicating themselves from any of the blame, Forbes stated “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.

“But, similar to Donald Trump’s decades-long obsession with his net worth, the unusual lengths to which the Jenners have been willing to go—including inviting Forbes into 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.” (AFP)

Source: News Express

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