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Why Kylie Jenner “is no longer a billionaire” (and why she is accused of counterfeiting)

June 16, 2020

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Why Kylie Jenner “is no longer a billionaire” (and why she is accused of counterfeiting)Why Kylie Jenner “is no longer a billionaire” (and why she is accused of counterfeiting)

In the past few days, Kylie Jenner has been removed from the billionaires list of Forbesafter leaving the magazine cover at the age of 22 as the youngest billionaire in the world in March 2019.

Why is that happend? Kylie Jenner sold 51% of Kylie Cosmetics to the beauty giant Coty, worth $ 1.2 billion. In 2018, Jenner Forbes said that her cosmetics company was on the right track to sell more than $ 300 million this year, but in reality only $ 125 million.

In 2015, Jenner launched her successful lipstick line at $ 250,000. according to ForbesSoon afterwards, the Kardashians launched a strong campaign to write on one of their envelopes that the then 19-year-old’s company had sold $ 300 million in a single year. Several experts consulted by the magazine agreed that this information was difficult to believe, and “only” put Jenner in 59th place on her list of happiest celebrities after calculating that he had $ 41 million.

The intense Kardashian media campaign led other financial publications such as capital o CNBC has validated the $ 300 million to make Jenner’s assets more credible and an estimated $ 900 million worth by the age of 20.

Forbes examined Jenner’s deal with Coty and found that the Kylie business is significantly smaller and less profitable than the Kardashian family has led the media to believe. The financial magazine even notes that the celebrity family was even able to create tax returns that were probably fake.

According to Forbes research, Kylie Cosmetics “barely” had sales of $ 177 million a year after passing into Coty’s hands, well below the $ 300 million the Kardashians reported. After all, the profit reduction that this would have meant for the brand – 62% between 2016 and 2018 – was suspicious and too pronounced to be real.

“Similar to the obsession for decades Donald Trump (73) In terms of net worth, the resources the Jenners turned to – including invitations to Forbes Visiting his villas or accounting firms, or even likely making fake tax returns – shows how desperate some of the ultra-rich are to look even richer, “the article says in Forbes.

Jenner answered the allegations on her Instagram page. “I thought this was a legitimate website,” he said, referring to it Forbes. “All I see is inaccurate claims and assumptions that have not been proven. I never asked or lied about a title to get it. NEVER. Period.”

Picture: Kylie Jenner on Twitter

The Kardashian family’s fame is perhaps most notable for the fact that it emerged from tabloids, Instagram, and reality shows. The family already had wealth and fame because Patriarch Robert Kardashian (now deceased) was OJ Simpson’s lawyer and later ex-Olympian Bruce Jenner (now Caitlyn Jenner) for the second patriarch. But apparently there was little that explained the family’s rise beyond little daughter Kim as a closet organizer for Paris Hilton The simple life 2003 followed by a famous stolen sex video.

Whether you love the Kardashians or despise them, it’s hard to deny the commercial tenacity of a team that can keep up any show, let alone a Reality show Television as long as Keep up with the Krdashianswhich has been running for 18 seasons since 2007.