Friday, 29 May 2020

Kylie Jenner’s web of lies busted by Forbes- She is no longer a Billionaire!

Earlier this year, Kylie Jenner sold half of her cosmetics company in one of the greatest celebrity cash-outs of all time. But the deal’s fine print reveals that she has been inflating the size and success of her business. For years.

According to Forbes, Kylie Jenner , the self-made makeup mogul is no longer a billionaire- Are you shocked!

Recall In 2019, Forbes declared Kylie had dethroned Facebook’s Mark Zuckerbergas the youngest-ever self-made billionaire. The publication also placed her on the cover of their 2018 publication under the headline: ‘America’s Women Billionaires’.
And even in 2020, Kylie still remained the youngest billionaire on the Forbes list.
Now the publication claims Kylie Jenner ‘spun a web of lies about company figures and forged tax returns to reach mega-money milestone’.

From their findings, they learned Kylie sold 51 per cent of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion in January. 
And Forbes now thinks that Kylie, “even after pocketing an estimated $340 million after-tax from the sale, is not a billionaire”.