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#KylieLied: Forbes Revealed Kylie isn’t A Billionaire


Forbes has accused Kylie Jenner of lying about her financial worth and even filing fake tax returns to worm her way into the billionaires league.

 

 

In a story to announce Kylie’s downgrade from the billionaires class, Forbes stated its doubts over several years about the figures bandied by Kylie and her family.

It then stated how it exploded the lies in the filings by beauty giant Coty which bought 51 per cent of Kylie Cosmetics in January this year.

As announced, it was a deal worth $1.2billion.

 

“Kylie is a modern-day icon, with an incredible sense of the beauty consumer,” Coty chairman Peter Harf gushed when announcing the acquisition in November.
But in the deal’s fine print, a less flattering truth emerged. 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 now declared: “Based on this new information—plus the impact of COVID-19 on beauty stocks and consumer spending—Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after tax from the sale, is not a billionaire.

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