Kylie Jenner has held the moniker of the youngest billionaire since March of 2019, and hasn’t been short of any success. Recently, Forbes has accused the supermodel for providing inadequate proof of her businesses and of her family alike.
Forbes in their statement accused the personality and the Kardashian household of going to ‘unusual lengths’ in order to prove Jenner as one of the youngest billionaires in today’s world.
I’ve never asked for any title or tried to lie my way there,” she wrote.
“I can name a list of 100 things more important right now than fixating on how much money I have,” she added.
It’s about time, Forbes denied the certainty in Kylie’s wealth. Accusing every Kardashian member of providing fake tax returns and it’s uncommon for Forbes to contradict their own statement.
Forbes, known for itself billionaire lists, acclaimed that Kylie’s signature business, Kylie Cosmetics hasn’t been fair with it’s profit. An audit needs to take place again, as acclaimed by Forbes.
The business magazine said the family’s accountant had provided it with tax returns that suggested the firm(Kylie Cosmetics) had profited ir breakeven at more than $300m in sales in 2016 and that publicists claimed sales of $330m the following year.
This behavior is suspicious and it’s in fact surprising that Forbes hasn’t highlighted this before. On public trading platforms, the cosmetics company has displayed a fluctuating in stocks, hinting in a ponzi scheme.
On accountability of the business and it’s revenue model, “significantly smaller and less profitable than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe”, Forbes said.
Taking into account – reports of years other than 2016, financial record of the company isn’t as linear as one would assume.
“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?” Forbes asked in their supposed article.
In January, around the financial market, news emerged that Kylie sold 51% of Kylie Cosmetics to the publicly traded beauty company Coty for over $600 million. Such a partnership leaves a hefty $1.2 billion value on the brand. Forbes, in it’s recent article, disagrees with such statements provided by the Kardashians.
Forbes was astonished at such conclusins and claime further the fashion superstar, even after pocketing an estimated $340 million after taxes from the sale” to Coty, “is not a billionaire.”
now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sale” to Coty, “is not a billionaire.”
Jenner has been criticized by many for not speaking up on the recent atrocities against African-Americans and the ‘Black Lives Matter‘ movement and being accused of forging tax returns in a capitalistic environment has casued many to question the model’s morals.
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