Kylie Jenner Reacts As Forbes Takes Away Status
Kylie Jenner, US media personality and businesswoman, has reacted to a bombshell report by Forbes magazine on her billionaire status.
In March 2019, the business magazine declared that the 22-year-old reality star had become the world’s youngest self-made billionaire.
But on Friday, Forbes, in an article, made a u-turn after it said it no longer believed that her net worth was that much. It also alleged that the Jenner family was “inflating” figures for the makeup mogul’s cosmetics company.
In the article titled “Inside Kylie Jenner’s Web Of Lies And Why She’s No Longer A Billionaire”, the US magazine said it reviewed financial data released by Coty Inc, which bought a 51 per cent stake in Kylie’s cosmetics company last year.
“But in the deal’s fine print, a less flattering truth emerged. Filings released by publicly traded Coty over the past six months lay bare one of the family’s best-kept secrets: 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 wrote.
“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.”
Forbes now estimates Kylie’s net worth at “just under $900m”.
The reality star, however, took to her Twitter page to state that the recent story by the business magazine was based on “a number of inaccurate statements and unproven assumptions.”
“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,” she wrote in a series of tweets.
“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.”
Kylie now joins other would-be billionaires like President Donald Trump and Wilbur Ross, US commerce secretary, who were previously accused by Forbes of inflating their riches.