Kylie Jenner has been detached from the grade of billionaires by Forbes on Friday.
Realities TV star, Make-up business Titan, and influencer has been accused by Forbes of inflating the size of her business and success.
Reports on the Forbes websites stated that Kylie Jenner had been insincere about company figures and forging tax returns’ to reach the billionaireS status.
Forbes accused the family of creating a ‘web of lies’.
Forbes has reported after seeing filings released by publicly traded Coty over the past six months that Kylie Cosmetics is “significantly smaller, and less profitable than the family has spent an age leading the cosmetics industry and media outlets to believe,”.
The Make-up Titan in November 2019 sold 51 per cent of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion in January.
Jenner only pocketed $340million, contrary to reports that she pocketed $1.2billion.
Notions from Forbes now imbibes that Kylie Jenner, even after pocketing an estimated $340 million after-tax from the sale, is not a billionaire.
“Quite fair enough to say that everything the Kardashian-Jenner family does is oversized,” says Stephanie Wissink, an equity analyst covering consumer products at Jefferies. “In order to stay on-brand, it needs to be bigger than it is.”
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In March 2019, Forbes had declared Kylie Jenner as the youngest self-made billionaire, a claim which generated controversy around the world.