Kylie Jenner Slams Forbes’ Scathing Claims She’s Not a Billionaire, Built Empire on ‘Web of Lies
Kylie Jenner slammed Forbes after the outlet accused the beauty mogul, 22, of building her empire on “a web of lies” and retracted her billionaire status on Friday, May 29. “What am I even waking up to?” the Keeping Up With the Kardashians star tweeted in response to the scathing story.
“I thought this was a reputable site … all I see are a number of inaccurate statements and unproven assumptions LOL,” the mom to Stormi Webster continued. “I’ve never asked for any title or tried to lie my way there EVER. Period.”
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 Jenner (@KylieJenner) May 29, 2020
In July 2018, Forbes declared the Kylie Cosmetics founder to be the youngest self-made billionaire. Months later, the reality star sold 51 percent of her company in January 2019 to beauty conglomerate Coty in a 1.2 billion deal, the outlet reported. Now that Kylie’s empire is owned by the publicly traded company, Forbes alleges the business is “significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe.”
The outlet claimed that with the impact of COVID-19 on the beauty industry, the Kylie Skin owner is no longer a billionaire despite earning $340 million after taxes from the sale to Coty.
The article went on to dissect the growth of Kylie Cosmetics and point out numbers and statistics that were not adding up, including the percentage of the company she owns.
“It’s fair to say that everything the Kardashian-Jenner family does is oversized,” Stephanie Wissink, an equity analyst covering consumer products at Jefferies, told the outlet. “To stay on-brand, it needs to be bigger than it is.”
Quoting a section from the Forbes article alleging the YouTuber’s tax returns were “likely forged,” the model continued to refute the outlet’s claim on Twitter. “That’s your proof? So, you just THOUGHT they were forged? like actually what am I reading.”
While the former Life of Kylie star said the retraction of her billionaire status is the “LAST thing” she is “worried about right now,” she still felt it was necessary to clear the air with her fans. “I can name a list of 100 things more important right now than fixating on how much money I have,” she continued. “I am blessed beyond my years, I have a beautiful daughter, and a successful business and I’m doing perfectly fine.”
Scroll below for a look at Kylie’s tweets slamming accusations she lied about her wealth.
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