NY. Forbes magazine has taken the minor from the Kardashian clan television, Kylie Jenner, the billionaire title that she was awarded for the first time in 2019 and renewed in 2020 for what she has called a “network of lies”, with the who has overstated the value of the company he founded, “Kylie Cosmetics.”
“Similar to Donald Trump’s decades-old obsession with his net worth, the media the Jenners have turned to – including invitations to Forbes to visit his mansions or to the offices of public accountants, or even creating income statements Probably counterfeited – reveals how desperate some of the ultrarics are to look even richer, “says a Forbes article published this Friday.
The article says that, based on “new information” obtained, in addition to the impact that the coronavirus pandemic has had on the company’s stock price and consumer spending, Kylie Jenner no longer has more than $ 1 billion they need to be considered a “billionaire” by Forbes.
All I see are inaccurate claims and assumptions that have not been proven. I have never asked for a title or lied to get it. NEVER. And point “
– Kylie Jenner
In May 2015, Jenner launched a successful line of lipsticks with some $ 250,000, taking advantage of the controversy that her cosmetic operations had raised among the youngest, and by 2016 she had dozens of products. Soon after, the text notes, the Kardashians began an intense campaign to put Kylie on one of the front pages of Forbes, ensuring that the 19-year-old girl’s company had accumulated $ 300 million in revenue in just one year. , something “difficult to believe”, according to several experts who consulted the magazine at the time.
For this reason, and to the Kardashians’ frustration, Forbes ranked her in 2017 as the 59th most fortunate celebrity, after calculating that she had entered about $ 41 million. But later, they say, other publications, such as the fashion magazine WWD, or the economic media Fortune or CNBC, did validate the figure of 300 million of the Kardashians, adding another 180 million in 6 more months.
Thus, the opinion of the experts changed over time, and the figure of 330 million in profits in 2017 became “credible”, so Kylie Jenner was given an estimated value of $ 900 million to 20 years. Any doubt that it had exceeded $ 1 billion seemed to dissipate in November 2019, when cosmetics giant Coty announced that it was buying 51% of Kylie Cosmetics for $ 600 million, putting the value of the company at $ 1.2 billion.
However, when it passed into Coty’s hands, this company began reporting profits of $ 177 million a year, well below the $ 300 million the Kardashians had previously been insuring. The profit reduction, which fell 62% between 2016 and 2018, is too steep to be real, according to experts consulted by Forbes.
Most likely, the article notes, “The business was never this big to start with, and the Jenners have been lying about it since 2016, including leading their accountant to submit false numbers on the income statement. (. ..) Although we cannot prove that these documents are false (although it is probable), the clear thing is that the people of Kylie have been lying “.
The reaction of the businesswoman and influencer was immediate: “I thought this was a website with a good reputation,” she said on social media this Friday, referring to Forbes. “All I see are inaccurate claims and assumptions that have not been proven. I have never asked for a title or lied to get it. NEVER. And period ”, he asserted.