Forbes Claims Kylie Jenner Fakes Wealth and Decides to Revoke the Youngest Billionaire Title
Tuesday, June 2, 2020
Edit
Forbes just made an uproar over their latest article entitled 'Inside Kylie Jenner's Web of Lies and Why She's No Longer a Billionaire'. It was there that they claimed that all this time Kylie Jenner had lied about her financial and wealth data.
Through an article released on Friday (29/5) yesterday, Forbes explained that Kylie Jenner's business in the form of Kylie Cosmetics did not run as successfully as others have imagined. The income from the business of former Travis Scott lover hasn't even reached US $ 1 billion, that's why she doesn't deserve to be called a billionaire.
In a report written in detail, Forbes claimed that Kylie and her family had intentionally raised her business and success. Unmitigated, Kylie also called raising numbers and tax data when researched last year.
Forbes's claim refers to a report from Coty, a beauty company that bought Kylie Cosmetics as much as 51 percent in January. It was there revealed that Kylie Jenner's business had a deficit, where spending was more than income.
They wrote, "According to Coty, revenue for the 12 months prior to their agreement was US $ 177 million, which is actually far lower than expected. Even worse, Coty said that sales (Kylie Cosmetics) rose by 40 percent from 2018. Which means The business only generated US $ 125 million that year, really far from the data of US $ 360 million, as Jenner said, making Forbes believe. "
Realizing the existence of the article, Kylie immediately expressed her anger on Twitter. The Life of Kylie star wrote, "Just woke up and got this news. I think they (Forbes) is a trusted site. All the numbers I saw were written based on inaccurate data and unproven assumptions.
I've never asked for any titles or tried to lie, EVER. Period. "
"Well, I'm very blessed beyond my age. I also have a beautiful daughter, and a successful business, I'm fine. I can write 100 other things that are more important than having to justify how much money I have now," she concluded.