Kylie Jenner Fires Back At Report Claiming She’s No Longer A Billionaire
Kylie Jenner fired back at a report claiming she is no longer a billionaire. The reality star and businesswoman spoke out via several statements on Twitter regarding a new story published by Forbes Magazine. The publication claimed that the numbers indicating Kylie’s overall wealth were inflated regarding money generated from the sales of her lip kits and other assorted items sold via her cosmetics company over the past several years. Forbes reported that in filings released by beauty company Coty Inc. over the past six months, the business was less profitable than Jenner led her followers to believe.
In a series of tweets, the Keeping Up with the Kardashians star revealed that she woke up to the news and did not know how to react to the published story. She made her feelings known as seen below.
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
— Kylie Jenner (@KylieJenner) May 29, 2020
“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.
— Kylie Jenner (@KylieJenner) May 29, 2020
She followed up the above tweets with a statement where she said she was blessed beyond her years.
“I have a beautiful daughter, and a successful business and I’m doing perfectly fine.”
In the story published on May 29, Forbes took a deeper look at what they said were discrepancies in Kylie’s overall wealth. The title of “The World’s Youngest Self-Made Billionaire” was bestowed on the reality star in March 2019 via the sale of 51 percent of Kylie Cosmetics to Coty for $600 million. The deal allowed her business to be valued at about $1.2 billion, reported Forbes. She retained 49 percent of the company.
The magazine claimed in a news story that Kylie’s net worth is significantly less than billionaire status. Forbes claimed that filings released by Coty for the past six months revealed that Kylie’s cosmetics company was reportedly less profitable than its reported numbers showed. The magazine also claimed that they were invited into the homes of the family and the offices of their financial representatives and were shown tax returns that Forbes stated were “likely forged.”
Kylie’s company was born in 2015 after a rumor emerged that she used lip fillers to enhance her lips. She claimed at the time that her enhanced pucker came from the use of lip liners and lipstick. Even after she admitted to using fillers to plump her pout, overwhelming interest in her perfect lip shape led to the creation of her first batch of lip kits in late 2015, which sold out minutes after their debut. Since the first batch of lip kits was manufactured, Kylie has also introduced products such as skin care to her line. These items were originally sold online but can now be found in beauty supply stores nationwide.
