Has Kylie Jenner Cheated To Make Forbes ‘Youngest Self-Made Billionaire’?

Another day, another reality TV star is caught lying. Whereas yesterday Ohio YouTube star Myka Stauffer got caught redhanded, this time round is none less than Kylie Jenner.

Before Coronavirus (if you can remember), Kylie, the Jenner family’s desired person to take over from Kim when the latter’s star will start to fade, made it to the Forbes Billionaire’s list as the ‘youngest self-made billionaire ever’.

As from today, the same magazine that shot her to further stardom, is removing Kylie’s pedestal. In a swift move, Forbes came out and accused the Jenner family of falsely inflating ‘Kylie Cosmetics’ revenue in order to make it to the list.

The magazine, which faced a heavy backlash over the listing of Kylie last year (as many claimed an appearance in a reality tv show was not self-made), now claims that the family went to “unusual lengths” to present Kylie as much richer than she actually is.

In response, Jenner is now dismissing the Forbes article as “inaccurate statements and unproven assumptions lol,” adding “I’ve never asked for any title or tried to lie my way there.”

“I can name a list of 100 things more important right now than fixating on how much money I have.”

Coty sale much smaller

According to Forbes, the main difference came from the fact that the Jenner family announced when they presented the magazine with their figures, that Kylie would be selling a 51% stake in her ‘Kylie Cosmetics’ to beauty giant Coty for around $600 million.

Kylie Jenner

Problem is that Forbes seems to have been provided these figures by the Jenner’s family accountant who provided it with tax returns which suggested the firm had done more than $300 million in sales in 2016 and $330 million in 2017.

When publicly traded company Coty presented the buy to it’s investors, it wrote that ‘the firm did only $125m in sales in 2018.’

And thus Forbes asks: “If Kylie Cosmetics did $125 million in sales in 2018, how could it have done $307 million in 2016 (as the company’s supposed tax returns state) or $330 million in 2017?”

Main picture credit: Instagram Forbes and Flickr, and WikiFamousPeople

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