Forbes has officially revoked Kyle Jenner’s Billionaire status. According to Forbes Kylie Jenner’s billionaire status was inaccurate and had to be revoked.
The story of Kylie Jenner as a self made billionaire came to our timelines over a year ago. Of course her fans and perhaps other women were excited. Leaving the rest of the world yawning and jabbing at the term self made.
It did not matter the reaction, a 21year old woman becoming the youngest billionaire in the world was news. Well, it turns out the bigger news is whatever was taking place behind the scenes before and after the star’s Forbes cover.
According to Forbes magazine the cover came after pressure from Kris Jenner, mother to Kylie of course. Kylie’s PR team who started the get Kylie on Forbes movement after glowing reports of her make up brand doing amazingly in the market.
Kylie started out with her lip liner line that sold out in minutes after its launch in 2016. Since then Kylie Cosmetics has been killing it at yearly market revenue having made an estimated 300 million in its first year.
These growing numbers and makeup giant Coty buying 51% of Kylie’s shares in her company, there seemed no doubt in her billionaire status.
Well apparently not! The Jenners allegedly inflated Kylie’s company to make it seem bigger than it actually is.
In 2018 the company is estimated to have made 125 million, so it seems near impossible for the company to have made over 300 million in its first year.
Forbes then claims that the Jenner clan inflated how rich they were to appear more richer. Not an unfamiliar strategy in the entertainment industry. Having done proper investigation on Kylie’s net worth,
Forbes places her valued just under 900 million. Seems a hell of a lot to me still. Kylie has since responded to the claims as unfounded lies. We will see how this plays out for both Forbes and Kylie.