Published 12:00 IST, May 30th 2020
Kylie Jenner's net worth 2020: Is the 22-year-old no longer a billionaire?
Forbes magazine, which once declared Kylie Jenner a billionaire on its cover, says she no longer deserves the title. Here are Kylie Jenner's net worth details.
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Kylie Jenner is no longer a billionaire, according to Forbes. Reportedly, Forbes named Kylie Jenner as the "Youngest self-made billionaire ever" last year, but now has a different story to tell about Kylie Jenner's net worth. As per reports, now Forbes claims that the Jenners have possibly been exaggerating the profitability of Kylie Cosmetics and their net earnings since 2016. Read details.
Kylie Jenner's net worth in 2020
Forbes' latest report revokes Kylie Jenner from her billionaire title by claiming that she inflated her net worth. As per Forbes' latest update, Kylie Jenner’s net worth is at just under $900 million. Moreover, the report further mentions that more than a third of that is the estimated $340 million in post-tax cash Jenner would have pocketed from selling a majority of her company.
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Speaking about Kylie Jenner's rest net income, Forbes reported, "The rest is made up of revised earnings based on her business’ smaller size and a more conservative estimate of its profitability, plus the value of her remaining share of Kylie Cosmetics—which is not only smaller than the Jenners led us to believe but is also worth less now than it was when the deal was announced in November, given the economic effects of the Coronavirus." Forbes also alleges that the Jenners' accountants may have shown the magazine falsified tax documents drafted with inflated numbers to help juice Forbes' estimates of Kylie’s earnings and net worth.
The same report further mentions that Kylie Jenner sold 51% of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion this January. Furthermore, the report states that it was a turning point for the family. However, with all this happening over the internet, Kylie Jenner sure refutes to the statements penned about her.
Kylie Jenner reacts to the news
The Kylie Cosmetics founder, Kylie Jenner took to her Twitter and reacted to her "Is Kylie Jenner no longer a billionaire" news. Kylie Jenner tweeted, "What am i even waking up to. i thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period."
Kylie's next tweet, “even creating tax returns that were likely forged” that’s your proof? so you just THOUGHT they were forged? like actually what am i reading."
"but okay i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine."
"i can name a list of 100 things more important right now than fixating on how much money i have."
12:00 IST, May 30th 2020