Kylie Jenner Gets Called Out By Forbes

Forbes starts a war with Kylie Jenner claiming she is not as rich as she says. Afterbuzz Kardashian News Weekly has the scoop.

Eboné Chatman

AfterBuzz TV Host & Writer
Posted On: May 29th, 2020 9:26 pm pst

Maria Menounos
Keven Undergaro
AfterBuzz TV Founders

Founded by Emmy winning journalist Maria Menounos and Producer Keven Undergaro, AfterBuzz TV is the artist-friendly entertainment news platform that celebrates, discusses, interviews, promotes and reports on the widest range of stars, creators and content through video, audio and article publications.

ABTV Kardashian News Weekly

Is Kylie Jenner not really a billionaire?? Well, it seems that Forbes just started a war with the mogul claiming that she faked tax returns and reported fake sales numbers. 

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i’m pretty good at this makeup thing

A post shared by Kylie 🤍 (@kyliejenner) on

Earlier this year, Kylie Jenner sold half of her cosmetic company in one of the biggest cash-out deals of all time. She sold it for $600 million, but apparently Forbes isn’t buying it anymore?? 

For the most part, people around the world are fascinated by the Kardashian-Jenner clan and how they stay on top of fame by being masters of marketing. 

Kylie is a modern-day icon. She has her cosmetic empire, her loyal fans, and Ms. Marketing Master herself spent $0 on her own marketing, as she was able to monetize on social media. However, creating this empire came at a price. Let’s not forget that in 2015 Kylie got caught in a scandal on whether or not she was using lip injections for the past year. Yet, they (I’m assuming she and Kris) were brilliant and turned the scandal into an opportunity. By November 2015 Kylie Cosmetics was born. 

Now, here is where the alleged scandal takes place – Kris, Kylie and their lawyers invite the Forbes team to their house to show them verification of Kylie’s earnings for 2017. What they showed made it look like Kylie was going to earn the number 2 spot on the list. 

However, with more analysts from industry experts, Forbes settled with a different total for Kylie, putting her at Number 59 on the list. A year later Forbes recalculated her earnings and this time believed the numbers that were given. They presented her with the opportunity to be on the front page and be Number 27 on the richest self-made women list. 

According to Forbes Magazine, the famous family has spent years fighting for a higher spot on the annual wealth and celebrity earnings list. So when Kylie sold half of her company that was the golden ticket – the ticket to break through and become a billionaire. 

The deal’s fine print was released by publicly traded Coty, and apparently it revealed that Kylie’s business is filled with smoke and mirrors and is significantly smaller, and less profitable than the family has led the cosmetics industry and media outlets (including Forbes) to believe.

“Based on this new information—plus the impact of Covid-19 on lower beauty stocks and consumer spending—Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sales, is not a billionaire.” 

Forbes had a lot to say in this manner as they are protecting their reputation and said, : “More likely: The business was never that big to begin with, and the Jenners have lied about it every year since 2016—including having their accountant draft tax returns with false numbers—to help juice Forbes’ estimates of Kylie’s earnings and net worth. While we can’t prove that those documents were fake (though it’s likely), it’s clear that Kylie’s camp has been lying.”

Although Forbes believes Kylie Jenner is lying about her billionaire status, after recalculated numbers Kylie’s net worth clocks in at around $900 million. Which is more than most people will ever see in a lifetime. Kylie seemed to be un-bothered with this accusation and sent out a few tweets. Keep doing your thing Kylie! 

What do you think?? Do you think Kylie is fabricating documents? Or is this just being dramatized? Let us know! 

You can Keep up with the Kardashians Thursday at 8pm on E! and keep tuning into Kardashian News Weekly. If you’re a fan of the Kardashians like we are, please share this article with a friend. Visit afterbuzztv.com for the best in TV aftershows, news and pop culture discussion PLUS videos, articles and podcasts on the widest range of topics in entertainment news.  

SOURCES 

Forbes mag cover: https://www.pinterest.com/pin/264586546845646870/visual-search/ 

Coty logo: https://www.globalcosmeticsnews.com/coty-professional-beauty-sale-hits-snag-kkr-and-henkel-hold-off-on-bids-to-assess-covid-19-impact-on-salon-brands/

About The Author:

Eboné Chatman is a host at Afterbuzz TV and a freelance blogger. She works at the Oprah Winfrey Network and is all about pop culture

Founded by Emmy winning journalist Maria Menounos and Producer Keven Undergaro, artist-friendly AfterBuzz TV is the world’s largest digital broadcast network and pop culture news platform, producing post-game ‘after-shows’ for nearly all favorite TV shows, interviewing cast and showrunners and providing the widest video, audio and article coverage of shows, content and influencers than any entertainment news platforms in existence

“We don’t just celebrate and cover the top shows, content and stars, we celebrate and cover ALL the shows, content and stars.”

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