Stella Dimoko Korkus.com: Forbes Magazine Retracts Kylie Jenner's Billionaire Status,Says She Faked It...

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Sunday, May 31, 2020

Forbes Magazine Retracts Kylie Jenner's Billionaire Status,Says She Faked It...

Forbes published a scathing report accusing the 22-year-old star and her “momager” Kris Jenner of lying about Kylie’s net worth and earnings of her uber-successful makeup line, Kylie Cosmetics.





Kylie Jenner allegedly used bogus tax returns to earn the crown of Forbes’ youngest-ever self-made billionaire — a coveted title the money magazine yanked on Friday.
Forbes now estimates Kylie is worth just under $900 million — a year after bestowing on her the youngest billionaire title at age 21.

“Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe,” the mag said.

Kylie and Kris are accused of giving the mag forged draft tax returns with inflated numbers to help “get a Forbes cover for Kylie” after her sister, Kim Kardashian West, landed the cover in July 2016, the report says.

The mag said it was “likely” the Jenners trumped up the success of Kylie Cosmetics every year since 2016 to appear wealthier.

“While we can’t prove that those documents were fake (though it’s likely), it’s clear that Kylie’s camp has been lying,” Forbes said.

The report does not accuse Kylie or Kris of illegally falsifying their tax returns.

A source close to the Kardashians and Jenners told The Post the famous family is driven by “sibling rivalry,” saying Kylie’s path to billionaire status was a carefully crafted “PR stunt.”

“All the Kardashian girls are screaming for attention,” the source said. “Amongst the Kardashian-Jenner family, there’s always a discussion about which of the girls would be the most successful and who has the most talent.”


Kylie all but cemented the youngest-ever self-made billionaire title in November after offloading Kylie Cosmetics — spawned from her popular $29 lip kits launched in 2015 — to beauty giant Coty for $600 million. The deal was valued at $1.2 billion, Forbes said.

Forbes said it was given documentation showing the brand made $360 million in 2018 and $330 million the year before.

But in reality, filings from the publicly traded Coty, the parent company of CoverGirl, showed Kylie Cosmetics did $125 million in 2018.

The alleged cosmetic cover-up was the worst kept secret among the beauty industry, the source told The Post.

“This was a deliberate strategy to brand Kylie as a business mogul.They aggressively pitched Forbes to put Kylie on the cover as the world’s youngest billionaire, and Forbes fell for it,” the source said. “Everybody in the beauty branding business knew Kylie’s net worth was inflated.”

Kylie’s new Forbes net worth of under $900 million factors in the estimated $340 million she raked in from the Coty sale after taxes and the economic impact of the coronavirus.

Kylie — who for years denied using lip fillers before finally owning up to it — had unseated Mark Zuckerberg as the youngest self-made billionaire ever, as part of Forbes annual list of the world’s richest people. The Facebook founder was 23 when he earned the title.

The Jenners didn’t comment to Forbes on the discrepancies.

Jenner’s rep didn’t immediately return multiple calls and emails from The Post.

But the reality TV star laughed off the report in a series of tweets to her 33.7 million followers.

“what am i even waking up to. i thought this was a reputable site..” Kylie tweeted on Friday.

“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.”

from pagesix

44 comments:

  1. Replies
    1. Waoooooooo in all she is still RICHHHHHHHHHHHHHH

      I follow her on Instagram she is now the 2nd most followed female after Ariana although she and Selene are on same number but sure Momanger go do abracadabra πŸ’™πŸ’™πŸ’™πŸ’™

      Delete
  2. The meme shaπŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚
    Inside life😏

    ReplyDelete
  3. Replies
    1. So wait oh, the difference here is 100k dolls right??? Was she even crowned the billionaire this 2020? They lost their credibility long ago, even before Invictus obi made their list, that Forbe mag should be used as toilet paper, it's be of better use than reading & digesting.... not to talk of taken serious.

      Delete
    2. USD$100,000,000, one hundred million dollars.

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    3. Macbeth, is your math that bad?? πŸ˜‚πŸ˜‚πŸ˜‚...

      Delete
  4. She's still a billionaire that's all that matters...lol

    ReplyDelete
    Replies
    1. Please tell how is she still a billionaire? Did you even read the article?

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    2. @ Mss Uche
      You should be the one to read again, someone that is $900k worth is what???????? And other jewelries and small properties eg cars are still there to top it to Billion, she is 23yrs this year, I think her Mom just wanted her to get attention that’s why she made sure she struggled her at 22yrs to be billionaire to beat Mark, Mark was named Billionaire at 23yrs old

      Delete
    3. Lily you should be the one to read and this time read it on the so called Forbes site that crowned her a billionaire. According to them,she’s worth 150-350 million.... still very rich if you ask me.

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    4. @Gwagon, does that one have a functional brain to assimilate anything she reads?

      Delete
    5. Shooter please be nice😭😭😭😭

      Delete
  5. Audio life
    Audio wealth
    Audio success
    🀦🏽‍♀️🀦🏽‍♀️🀦🏽‍♀️

    ReplyDelete
  6. That means Forbes didn't know what they are doing ,for not seeing all these on time before declaring her a billionaire.

    ReplyDelete
    Replies
    1. I think Forbes just do not want to say it as it is because, it would greatly affect their credibility. I heard since 2yrs ago, that Kris Jenner has been bribing her way with Forbes to project her daughters. She is really trying to launder the image of her daughters and "buy" some form of nobility for them...

      Delete
    2. You can't make a silk purse out of a sow's ear

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    3. U took it right out my mouth. They are very incompetent then. They don't do due diligence. They take everything at face level. In conclusion, we can't believe everything they tell us again. Even at that she is almost a billionaire.

      Delete
    4. The same Forbes crowned that Invictus obi.

      Delete
  7. Forbes don't really know what they want... Or maybe, they just don't know what they are doing!

    At least, Toke can now have some peace of mind😊😊

    ReplyDelete
  8. God ooo, so it’s all a hoax
    I just wanted my “God When” on this audio wealth

    ReplyDelete
  9. Oh please! She is still a millionaire for her age!!

    ReplyDelete
  10. Not only did they discredited themselves,they made a total clown out of themselves! Shame on Forbes what stops them from running a thorough check up before crowing her “self acclaimed/self made youngest billionaire” now they want to run their mouth talking about “she Gabe’s is wrong figures” oh well, I heard she’s estimated to be about 150-350 milli THAT IS A WHOLE LOT OF MONEY TO SNORKEL IN she’s still very very wealthy.

    ReplyDelete
    Replies
    1. No checks and balances?

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    2. I bet they won't be that quick to conclude and tag her the youngest billionaire if she was a BLACK, The whole joke is on themπŸ˜‚πŸ˜‚.

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    3. @Jet li,no check and balance fa! A big mistake on their part.
      @Chissy baby❤️ The joke is truly on them!

      Delete
  11. ..... talking about she forged tax report hello!!!! Do you know what it means to forge tax report? That’s jail time. Forbes really made a joke out of themselves THEY ARE NOT RELIABLE.

    ReplyDelete
  12. Forbes you are also guilty as well. Is that not how you put Invitus on your under 30 kini kan. Now Kylie as well. Una reputation dey shake.

    ReplyDelete
    Replies
    1. Phoenix, please do you have their contact? Because I think it's high time they rated Mama Mia...

      Delete
  13. She has still done well for herself.

    ReplyDelete
  14. Hello, The Forbes, she had to fake it till she.......πŸ™„

    ReplyDelete
  15. Forbes came out with this news to distract people from talking about the killing of a black man.

    ReplyDelete
    Replies
    1. 🀦🏽‍♀️

      Delete
    2. 15:17
      Quit the internet. Forever.

      Delete
  16. Forbes is not reliable afterall.

    ReplyDelete
  17. Abeg, she's still rich. Impressed at how she started her makeup brand. She's now worth than Kim who brought the family fame in the first place

    ReplyDelete
  18. Forbes did this after Kylie spoke against white folks killing black folks.....they’re trying to punish her guys...

    ReplyDelete
    Replies
    1. LMAO. Some of you are sleeping on your inherent fanfic talent.

      Delete
  19. “While we can’t prove that those documents were fake (though it’s likely), it’s clear that Kylie’s camp has been lying,” Forbes said.
    Forbes seems confused, why not short up until you can prove your claim

    ReplyDelete

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