The Kardashians surely know how to grab headlines. The youngest member of the family, Kylie Jenner is now grabbing them for all the wrong reasons. Forbes magazine is now reporting that Kylie Jenner is not a billionaire. The magazine had earlier reported that she is the youngest self-made billionaire in USA.
In 2016, Kylie started her own cosmetics business ‘Kylie cosmetics’. She introduced $29 Lip kits containing matching lipsticks. Her business has been a tremendous success since its launch as it has sold over $630 million worth of makeup and Forbes valued it at $800 million. Kylie owned the business 100 percent back then.
A twist surfaced on Friday, as the magazine reported that Kylie’s company has sold about $125 million worth makeup making Kylie’s claims false that it was on track to sale about $300 million worth makeup.
Kylie’s deal with beauty giant Coty, which saw her selling her company’s 51 percent stake at a value of $1.2 billion is also questioned by the magazine. They claim that “Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets.”
Forbes furiously slammed the Kardashian family for spreading lies and fabricating the figures. Accusing the family of spinning a web of lies, they further went on to compared them with US President Donald Trump’s obsession with his own wealth.
Meanwhile,Kylie took to Twitter to defend herself from the allegations. She posted :
i can name a list of 100 things more important right now than fixating on how much money i have
— Kylie Jenner (@KylieJenner) May 29, 2020
Kylie Jenner has a whopping fan following on social media site Instagram, with about 110 million followers. She became famous along with her sisters through their reality TV show ‘Keeping up with the Kardashians’. Her elder sister, Kim Kardashian has her cosmetics, clothing and mobile games lines, worth $350 million.