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Kylie Jenner Accused of Fabricating Billionaire Status By Forbes

Kylie Jenner Accused of Fabricating Billionaire Status By Forbes

Kylie Jenner

Updated: May 29, 2020 at 1:49 EST.

Kylie Jenner has transformed from the youngest of the Kardashian-Jenner clan to a makeup mogul industry giant.

Kylie is thought to be the richest among the Kardashian-Jenner family. But all may not be as it seems.

Forbes has cast doubt on the claim by taking a look at her business ventures and takings over the years.

Forbes has compiled various pieces of evidence that have led it to the conclusion that Kylie’s been telling fibs.

Marie Claire's Image Maker Awards 2017 - Arrivals
Kylie Jenner on January 10, 2017 in West Hollywood, California. (Photo by Getty Images)

The magazine has dealt a good deal with Kylie (as well as her sister Kim Kardashian) as front cover stars, meaning they had access to the accountant behind Kylie Cosmetics.

Forbes goes into great detail explaining why the numbers the Kardashian-Jenner family gave for Kylie Cosmetics were questionable, especially after comparing them to the numbers following Coty’s acquisition. You can see that breakdown here.

Forbes reports that with this new information and the COVID-19 climate, Jenner’s net worth is now, according to their calculations, “just under $900 million.”

2018 MTV Video Music Awards - Arrivals
Kylie Jenner attends the 2018 MTV Video Music Awards at Radio City Music Hall on August 20, 2018 in New York City. (Photo by Getty Images)

“More than a third of that is the estimated $340 million in post-tax cash she would have pocketed from selling a majority of her company,” the outlet explained of its calculation. “The rest is made up of revised earnings based on her business’s smaller size and a more conservative estimate of its profitability, plus the value of her remaining share of Kylie Cosmetics—which is not only smaller than the Jenners led us to believe, but is also worth less now than it was when the deal was announced in November, given the economic effects of the coronavirus.”

But, Forbes’ Chase Peterson-Withorn and Madeline Berg reported this week that Jenner and her mother, Kris Jenner, inflated their wealth in documents they provided to the publication about Kylie’s personal wealth and her company’s revenue.

“It’s clear that Kylie’s camp has been lying,” Forbes reported.

Forbes said the Jenners have previously invited the publication into their homes and accountants’ offices, and provided Forbes with tax returns “that were likely forged.”

Kanye West Yeezy Season 3 - Front Row
Kanye West Yeezy Season 3 on February 11, 2016 in New York City. (Photo by Getty Images)

The magazine compared the Jenners’ maneuvers to those of Donald Trump, writing, “The unusual lengths to which the Jenners have been willing to go… reveals just how desperate some of the ultra-rich are to look even richer.”

Her wealth is likely closer to just under $900 million, according to Forbes’ estimate. The median household net worth in the United States is around $97,300.

UPDATE!

Kylie Jenner has responded to the allegations in a series of tweets!

“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 wrote.

“‘even creating tax returns that were likely forged’ that’s your proof? so you just THOUGHT they were forged? like actually what am i reading.”

“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.”

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It look like she has the Trump deflection skills down pat.

“this is literally the LAST thing i’m worried about right now,” she said in response to someone who wrote: “This is what you’re worried about right now?”


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