Fly Fashion News: Forbes Exposes Kylie Jenner's "Billionaire" Status as a "Web of Lies"
“Baby mama cover Forbes got these other bitches shook.”
Say what now, Travis?
Chillldd.
Forbes has just published a FULL exposé on Kylie Jenner lying about her billionaire status:
Earlier this year, Kylie Jenner sold half of her cosmetics company in one of the greatest celebrity cash outs of all time. But the deal’s fine print reveals that she has been inflating the size and success of her business. For years.
More than a decade into their fame, the Kardashian-Jenners tend to induce eye-rolls and sighs among jaded media consumers. But when it comes to their wealth, even critics of reality TV’s first family are intrigued;the Kardashian-Jenner machine—and the cash it generates—has been the subject of articles, podcasts, even books. But no one cares more about the topic than the family itself, which has spent years fightingForbes for higher spots on our annual wealth and celebrity earnings lists.
So when the youngest of the clan, Kylie Jenner, sold 51% of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion thisJanuary, it was a watershed moment for the family. One of the greatest celebrity cashouts of all time, the transaction seemed to confirm what Kylie had been saying all along and what Forbes had declared in March 2019: that Kylie Jenner was, indeed, a billionaire—at least before the coronavirus.
Kylie is a modern-day icon, with an incredible sense of the beautyconsumer,” Coty chairman Peter Harf gushed when announcing theacquisition 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 cosmeticsindustry and media outlets,including Forbes, to believe.
Full Article: https://www.forbes.com/sites/chasew...ies-and-why-shes-no-longer-a-billionaire/amp/
Kylie's response:
My two cents:
Forbes basically have egg all over their face. Out of all the self-made billionaires they could have covered such as Pat Mcgrath (MUVA) and others, they rushed to chose Kylie because it was a popularity contest. And now the gag is she's not even a billionaire at all.
Hate to see it.
