Yikes! Talk about a plot twist… It looks like Kylie Jenner isn’t really a billionaire after all…
So as you may have heard, Kylie was previously named the youngest “self-made billionaire” but now she’s being called out for apparently “inflating the size and success of her business for years.”
So Forbes reported that she claimed to sell more than $300 million in makeup, with her brand Kyle Cosmetics, in 2018, but in fact, it only did $125 million.
The report reads, “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 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.”
Wow, so now, according to Forbes, even after she pockets an estimated $340 million after tax from the sale, she is not a billionaire.
You can read the full thing on Forbes.com … wild!
nmedia 