When Kylie Jenner made the cover of Forbes Magazine in 2018, it stirred up controversy everywhere. Right from the New York Times to even the dictionary. When Kylie turned 21, even the bartender at her birthday bash wore T-shirts that had her Forbes cover on it. This story also nominated in Travis Scott’s Grammy-nominated song ‘Sikkim.’ The 21-year reality TV start was declared as the youngest self-made billionaire in 2019
Kylie Jenner Viral News
However, the story we are telling in 2020 is a little bit different. Kylie Jenner is super-rich with a wildly successful business. But for years, it seems that she has exaggerated and lied about just how successful he is. When Kylie made the cover of Forbes magazine in 2018, Forbes raised doubts regarding the numbers her team was claiming. However, her team backed it up with proof in the form of tax returns signed by Kylie herself.
Analysts and industry experts verified what Kylie’s camp was saying. Her business was doing at least $300 M in revenue every year.
Forbes Strips Kylie Off Her Billionaire Status
Although, it seems that the numbers and tax returns Kylie sent Forbes was fake, and it’s clear that Jenner’s been lying for years. In November 2019, Kylie Jenner agreed to sell 51% of Kylie Cosmetics to Coty. Coty is the beauty giant that owns brands like Clairol, Wella, and Sally Hansen. This deal valued Kylie’s business at over a billion dollars, and her earnings from the sale are an estimated $540 M before taxes.
Though the deal was great for her wallet, it wasn’t so great for her reputation. Because in selling to a public company, details of her business have been revealed. The sale has brought one of the Jenner family’s biggest secret to light. The secret is that Kylie Cosmetics is not nearly as big or successful as a business as they spent leading the entire world to believe.
The numbers just don’t add up. Kylie’s camp led Forbes to believe that the business had done $360 M in revenue in 2018. But in reality, the number was only $125M.
Kylie Skin, which launched in 2019, told Forbes that it had made $100M in revenue in just two months. However, in reality, it hadn’t even done $25M in 6 months.
How Does This Affect Kylie’s Fortune?
First off, it is clear that she isn’t earning as much money as we’ve been estimating in the past based on her input. Forbes estimated that Kylie brought home $166M in 2018 and $170M in earnings in 2019. In actuality, it was only $50M each year.
As per Kylie’s billionaire status, given these findings and the impact of the COVID-19, Forbes claims that her net worth has fallen below a billion dollars. In other words,
Kylie Jenner is NO longer a BILLIONAIRE!!!