Kylie Jenner is not a billionaire, says Forbes

03:09 PM | 30 May, 2020
Kylie Jenner is not a billionaire, says Forbes

After crowning the beauty mogul the world's youngest self-made billionaire in 2019, Forbes striped away Kylie Jenner's title.

The business magazine claims that Jenner has been boosting the size and success of her business for years.

Jenner sold a 51% stake in her brand to beauty giant Coty in January for $600 million in a deal that valued the company at $1.2 billion.

"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 magazine said in the story.

"Forbes now thinks that Kylie Jenner, even after pocketing an estimated US$340 million after taxes from the sale, is not a billionaire.''

Jenner responded in a series of tweets, saying "what am I even waking up to. I thought this was a reputable site... all I see are a number of inaccurate statements and unproven assumptions lol. I've never asked for any title or tried to lie my way there EVER. period.''

She later tweeted: "but okay, I am blessed beyond my years, I have a beautiful daughter, and a successful business and I'm doing perfectly fine. I can name a list of 100 things more important right now than fixating on how much money I have.''

In March 2019, Forbes itself put Kylie on the cover, declaring her as the youngest ever self-made billionaire.

Have more to add to the story? Comment below and stay tuned for more!