Vanguard Allure

Top Menu

  • Vanguard

Main Menu

  • Home
  • Allure Magazine
    • Features
    • Magazine
    • Profiles
  • Allure TV
  • Celebration
    • Fashion & Style
    • Weddings
    • Lifestyle
    • Events
  • Wellbeing
    • Allure Woman
    • Healthy Living
    • Beauty
  • Happiness
    • Food
    • Shopping
    • Travel
    • Relationships
    • Career
  • News
  • Vanguard

logo

Vanguard Allure

  • Home
  • Allure Magazine
    • Princess Kelechi Oghene: Building Fashion Legacy

      February 21, 2021
      0
    • Gedoni And Khafi Ekpata

      Gedoni And Khafi Ekpata: To Love And To Hold

      February 14, 2021
      0
    • 'I'm pushing only JESUSBrand' - Dupsy Oyeneyin, Gospel Singer

      January 31, 2021
      0
    • Juliet Okonkwo: From Passion To Goldmine

      January 31, 2021
      0
    • Making music is my ministry, obedience to call of God - Chineze ...

      January 31, 2021
      0
    • Samuel Animashaun Perry: Arrival of Broda Shaggi

      January 24, 2021
      0
    • Adetola Nola: Up Real Estate Ladder

      January 17, 2021
      0
    • My October 4 Revelation - Chisom Orji

      January 16, 2021
      0
    • Amid Face-Off With Bobrisky James Brown Loses IG Page

      January 16, 2021
      0
    • Features
    • Magazine
    • Profiles
  • Allure TV
  • Celebration
    • Fashion & Style
    • Weddings
    • Lifestyle
    • Events
  • Wellbeing
    • Allure Woman
    • Healthy Living
    • Beauty
  • Happiness
    • Food
    • Shopping
    • Travel
    • Relationships
    • Career
  • News
    • How I lost My Mum At 5 - Nancy Isime

      February 24, 2021
      0
    • Ekiti gov pays condolence visit widow of Flt Sgt Olawunmi

      February 23, 2021
      0
    • ebuka

      ‘9 months after lockdown, now babies everywhere, time well spent’ – Ebuka ...

      February 22, 2021
      0
    • BankyW and Adesua welcome first child after 4 years of marriage

      February 22, 2021
      0
    • Comedian Bovi rocks popular bloodied flag at the Headies award

      February 22, 2021
      0
    • Wizkid floors Davido grabs 3 awards at 14th Headies (Full List of ...

      February 22, 2021
      0
    • Natural Ways To Make Your Bedroom Smell Good

      February 21, 2021
      0
    • Instagram influencer Ramon Abbas aka Hushpuppi,

      'I'll be with grandkids before he gets out' - BBNaija’s Leo reacts ...

      February 20, 2021
      0
    • mc oluomo

      Biodun Okeowo, others react as MC Oluomo’s daughter becomes certified nurse in ...

      February 20, 2021
      0
  • Green Tea: One Best Food to Take In The Morning

  • Don’t build your romance solely on money – Reno Omokri counsels women

  • Learn how to make and spend money – Cubana advices

  • We can’t keep deceiving ourselves, every race’s common goal is to exploit Africa — 2Baba

  • 4 Ways to Cook Pepper Soup – Catfish, Chicken, Goat Meat and Ukodo (Video)

EntertainmentTrending
Home›Entertainment›Kylie Jenner’s billionaire status revoked by Forbes magazine

Kylie Jenner’s billionaire status revoked by Forbes magazine

May 29,2020
Share:

Kylie Jenner’s billionaire status has been revoked by Forbes magazine due to certain irregularities uncovered.

Forbe’s believes Kylie inflated her earning and didn’t tell them the whole truth regarding how much her income and true worth were.

Remember Kylie Jenner unseated Mark Zuckerberg in 2019 to become world youngest ever self-made billionaire.

In a report titled “Inside Kylie Jenner’s Web of Lies — and Why She’s No Longer a Billionaire”, Forbes accused her of ‘lying about company figures and forging tax returns’ to reach the billionaire status.

The American business magazine which reviewed filings from Coty, the beauty giant which the mother of one sold 51 percent of her Kylie Cosmetics to in a deal valued at $1.2 billion in January 2020, found that Kylie’s beauty company “is significantly smaller, and less profitable than the family has spent years leading the cosmetics industry and media outlets to believe”.

After comparing the figures the Kardashian-Jenner family gave them with that of Coty’s acquisition.

Forbes further revealed that the number were questionable.

With this  information and the impact of COVID-19 pandemic, Kylie’s net worth is now “just under $900 million.”

The report reads,

More than a third of that is the estimated $340 million in post-tax cash she would have pocketed from selling a majority of her company. 

“The rest is made up of revised earnings based on her business’s smaller size and a more conservative estimate of its profitability, plus the value of her remaining share of Kylie Cosmetics—which is not only smaller than the Jenners led us to believe, but is also worth less now than it was when the deal was announced in November, given the economic effects of the coronavirus.

“Revenues over a 12-month period preceding the deal: $177million according to the Coty presentation, far lower than the published estimates at the time. 

“More problematic, Coty said that sales were up 40% from 2018, meaning the business only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe. 

“Kylie’s skincare line, which launched in May 2019, did $100 million in revenues in its first month and a half, Kylie’s reps told us. The filings show the line was actually “on track” to finish the year with just $25 million in sales.”

Stephanie Wissink, an equity analyst covering consumer products at Jefferies told Forbes;

“It’s fair to say that everything the Kardashian-Jenner family does is oversized. To stay on-brand, it needs to be bigger than it is.”

TagsBillionaire status revokedForbes MagazineKylie Jenner
Previous Article

BAFTA TV Awards 2020, To Be Held ...

Next Article

‘This shouldn’t be “normal” in 2020 America’ ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Fashion & StyleNews

    US TV personlaity, Kylie Jenner becomes Adidas brand ambassador

    September 1, 2018
    By RITA
  • Allure WomanNews

    Kylie Jenner becomes youngest self-made billionaire

    March 6, 2019
    By allure1
  • Allure WomanBeauty

    Kylie Jenner sells stake in cosmetics company for $600m

    November 19, 2019
    By Temitope
  • Allure MagazineNews

    Reality TV star, Kylie Jenner disappoints many as she names daughter, Stormi Webster

    February 8, 2018
    By allure1
  • Allure MagazineEntertainmentNews

    I never said anything about someone else’s child- Rapper Tyga finally reacts to claims, he fathered Kylie’s baby

    March 28, 2018
    By allure1
  • Allure MagazineEntertainmentNews

    Reality TV star, Kylie Jenner tweets and Snapchat’s shares tumbles

    February 23, 2018
    By allure1
0

  • EntertainmentmusicNews

    Singer, Niniola gets nomination for BET Award

  • Lifestyle

    Famous Blogger, Linda Ikeji eyes getting private jet

  • EntertainmentNews

    Music Artiste, Blackgold calls out SARS official for unfair treatment 


  • 5324
    Followers
  • 12744
    Likes

Timeline

  • February 27, 2021

    Green Tea: One Best Food to Take In The Morning

  • February 26, 2021

    Don’t build your romance solely on money – Reno Omokri counsels women

  • February 26, 2021

    Learn how to make and spend money – Cubana advices

  • February 26, 2021

    We can’t keep deceiving ourselves, every race’s common goal is to exploit Africa — 2Baba

  • February 26, 2021

    4 Ways to Cook Pepper Soup – Catfish, Chicken, Goat Meat and Ukodo (Video)

Categories

Subscribe to our Newsletter

Sign up to receive email updates and to hear what's going on with our magazine!

  • Recent

  • Popular

  • Comments

  • Green Tea: One Best Food to Take In The Morning

    By Oluwamuyiwa Oyedele
    February 27, 2021
  • Don’t build your romance solely on money – Reno Omokri counsels women

    By Temitope
    February 26, 2021
  • Learn how to make and spend money – Cubana advices

    By Temitope
    February 26, 2021
  • We can’t keep deceiving ourselves, every race’s common goal is to exploit Africa — 2Baba

    By Dami
    February 26, 2021
  • Chioma Jesus, Sammie Okposo, Midnight Crew set for #THUGGLA2018

    By RITA
    April 24, 2018
  • American rapper, Kendrick Lamar wins Pulitzer prize for 2017 ‘Damn’ album

    By RITA
    April 17, 2018
  • Afrobeat singer, Seun Kuti drops new album titled ‘Black Times’ 

    By RITA
    April 23, 2018
  • Actor, Yul Edochie declares intention to run for presidency

    By RITA
    April 23, 2018

Entertainment

  • February 26, 2021

    We can’t keep deceiving ourselves, every race’s common goal is to exploit Africa — 2Baba

  • February 26, 2021

    Peter Okoye’s wife Lola finally buries father in emotional ceremony

  • February 26, 2021

    Nollywood actor, Alesh welcomes first child

  • February 26, 2021

    Tonto Dikeh is now an NCPC Ambassador for Peace Building

  • February 25, 2021

    ‘The Water Man’ Set To Hit Netflix

Follow us