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Who do you Believe Kylie Jenner or Forbes?

Forbes just published a scathing report claiming Kylie Jenner is NOT a billionaire and KYLIE has responded

Kylie was crowned the YOUNGEST self made billionaire at 21 by Forbes back in 2019, Today they REVOKED that status in a report titled "Inside Kylie Jenner's Web of Lies — And Why She's No Longer a Billionaire.

Kylie’s Billionaire status was solidified when:
She sold 51% of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion, Forbes now thinks that Kylie even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire.

“Filings released by publicly traded Coty over the past six months lay bare one of the family’s best-kept secrets: 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.”

Forbes went into DETAIL on how they think she’s been inflating the business and took things all the way back to 2016 analyzing Kylie’s business claims from her first 18 months

After consulting analysts who also found the claims implausible, they settled on:

QUOTE: “a more reasonable estimate for our 2017 Celebrity 100 list: $41 million in overall earnings for Kylie, good for the No. 59 spot. Kris was “so frustrated,” the Jenners’ PR flack shot back. “We’ve done so much.”

A few months later a WWD article came out using the exact numbers the Jenners first tried to give Forbes.

A quote from that article said:
“There has been raging speculation about the size of her business, with guesstimates ranging from $50 million up to $300 million. Well, here’s the bad news for more-established beauty players: Jenner’s surpassed the higher figure with ease. Kylie Cosmetics actually has done $420 million in retail sales—in just 18 months—Kris Jenner revealed. . . . ”
“and they provided WWD with documentation.”

Forbes the followed up:
"Based on her rapid success—certified by industry sources, plus those 2016 tax returns—Kylie appeared on the cover of Forbes magazine in July 2018, ranking No. 27 on our listing of the richest self-made women. At age 20, she was worth $900 million, we estimated, and would soon become the youngest self-made billionaire ever."

SO let’s jump back to present day and dive into this new information that’s led Forbes to REVOKE her status

According to a Coty presentation-
Revenues over a 12-month period preceding the deal were $177 million--far lower than the published estimates at the time.
Coty said that sales were up 40% from 2018, meaning the business only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe.

Forbes was also told by Kylie’s reps that her skin care line, which launched in May 2019, did $100 million in revenues in its first month and a half
The filings show the line was actually “on track” to finish the year with just $25 million in sales.

They are also alleging that Kylie did not own the business outright:
Coty’s purchase agreement specifically lists a “KMJ 2018 Irrevocable Trust,” controlled by Kristen M. Jenner, as owning a profit interest in Kylie Cosmetics.

In their report Forbes poses this question QUOTE:
“If Kylie Cosmetics did $125 million in sales in 2018, how could it have done $307 million in 2016 (as the company’s supposed tax returns state) or $330 million in 2017?”

They offer two theories to explain:
1. Kylie’s business quietly fell by more than half in a single year.
^say this is unlikely
2. “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.

“Taking all this new information into account and factoring in the pandemic, Forbes has recalculated Kylie’s net worth and concluded that she is not a billionaire. A more realistic accounting of her personal fortune puts it at just under $900 million”

Kylie took to Twitter to DIRECTLY respond to the report in a series of tweets

Kylie’s attorney also released a statement to People:

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