Forbes said that Kylie exaggerated, inflated and showed signs of dishonesty in the financial statements surrounding the success of the isolated cosmetic company.
While the two sides are still talking about the controversial incident, let’s look back on Kylie Jenner’s past journey, to see whether or not the billionaire is USD or not, this 22-year-old girl knows how to create an image and make the media - the public have to say about themselves.
In March 2019, Forbes estimated that the value of Kylie Cosmetics of Kylie Jenner was about more than $ 900 million, plus her outside earnings, Kylie must have a total assets of more than $ 1 billion. And so, she became a billionaire.
But recently, Forbes announced that Kylie Jenner is not a true billionaire, that she has exaggerated the company’s sales and profits since 2016. Forbes believes that the true assets of Kylie is only nearly 900 million USD.
Kylie founded Kylie Cosmetics in 2015 and once claimed that she made $ 400 million in sales in just the first 18 months.
Kylie founded Kylie Cosmetics in 2015 and once claimed that she made $ 400 million in sales in just the first 18 months. By November 2019, Kylie decided to resell the majority of its shares in the cosmetics company to a group specializing in beauty products for $ 600 million, which estimated the value of the company at that time. 1.2 billion USD.
But Forbes believes that Kylie Cosmetics is not "as good as it is" to the point of being advertised outside.
Despite the controversy surrounding whether Kylie is a real "billionaire", Kylie clearly owns a cult cosmetics company, appeared in a reality TV show. customers, and have earned millions of dollars from ads posted on Instagram accounts very "view".
Let’s take a look at how Kylie Jenner made money over the years, from the cosmetics business to the reality show of the family:
March 2019: Forbes calls Kylie Jenner (now 21) the youngest self-made billionaire in the world. At that time, there were quite a lot of criticisms from the word "self" because Kylie was born in a well-off family with the superior advantages that came from her having famous sisters with reality TV shows. cult of family.
No need to do anything or effort, Kylie has been communicated - the public is known and has an ideal starting point than many other "self-made billionaires" characters. In response to criticism, Kylie once told Paper magazine that:
“The element of self is true because at the age of 15, my parents were no longer supporting me with my living expenses and I had to take the initiative in spending my income from participating in the TV show. of the family ”.
May 2020: Kylie Jenner’s position as a billionaire shakes when Forbes makes a new announcement about the status of her assets. In April, Forbes still called Kylie the youngest self-made billionaire in the world, but with the latest information released in May, Forbes denied that Kylie was a US billionaire.
According to new investigations by Forbes, Kylie has shown many signs of inflating revenue from her business and has cited incorrect information and figures for Forbes since 2016. However, Forbes did not deny. that Kylie Jenner is a great millionaire, because the value of her fortune according to this news is currently at nearly $ 900 million.
Kylie Jenner immediately posted on Twitter the status of the new Forbes response: “I thought this was a reputable news site ... But all I saw were claims. accurate and uncompromising proof, it’s funny. I have never asked for a title or had to lie to get to a position. End".
In addition, Kylie also questioned the evidence for the claim that the tax return she presented "may have been faked." Seemingly not enough, Kylie added: "I can put together a list of 100 more important things to do right now, rather than sitting there to explain how much money I have." .
Childhood: Kylie Jenner’s first job was to appear on a reality TV show of the family with her mother and sisters - the show "Keeping Up With The Kardashians". When the first episode of the show aired, Kylie was only 9 years old, now the show has reached the 18th and Kylie is 22 years old.
2017: People magazine reported that the Kardashian-Jenner family made about $ 30 million for each part of the show "Keeping Up With The Kardashians". However, it is unclear how each member will receive remuneration.
2017: Kylie has her own show "Life of Kylie" to meet the interest of young people for her, but this show does not last long.
2013: When 15 years old, Kylie and her sister Kendall launched Kendall + Kylie fashion product line to collaborate on the same fashion brand. This product line has continued to expand and has been present in more than 1,000 stores around the world.
2015: Kylie earns the most from Kylie Cosmetics. Initially, when the company was first established in 2015, Kylie launched a line of Kylie Lip Kits lipsticks which were very popular, right before that, she frankly admitted that she had a lip pump.
2017: Kylie’s cosmetics company announced sales of more than $ 630 million in the first two years of operation. The production, packaging and sales of Kylie Cosmetics products are done by specialized companies in each field, these companies will in turn perform each stage, serving for cosmetic business of Kylie Cosmetics.
The company’s business activities and media relations are supported by Kylie’s biological mother, Kris Jenner.
2018: Kylie announces that her cosmetics company is preparing to reach $ 300 million in sales this year. But now, Forbes estimates that in fact, this figure is only at $ 125 million.
2019: Kylie sells the majority of her shares in Kylie Cosmetics to a group specializing in beauty products for $ 600 million. Kylie gave up the position of CEO in the company, but according to the group’s acquisition of the company, she and her associates will continue to lead creative efforts for new product lines and will continue to support. Communication support for the company.
Social Networks: Much of Kylie’s work at Kylie Cosmetics is done on social networks. She often promotes her cosmetics brand on her personal Instagram account.
“Social networking is a magical platform. I have the opportunity to easily reach out to my fans and my customers, ”Kylie once told Forbes. On Instagram, she has more than 178 million followers.
Besides, she also has many advertising contracts with other brands. Kylie often advertises fashion, pharmacy - cosmetics products on her Instagram account.
According to a 2018 survey conducted by D’Marie Analytics, a Kylie Instagram ad worth about $ 1 million.
Current job: Despite selling a majority of the shares in the cosmetics company she once owned in 2019, but before that, in 2018, Kylie shared that she thought she would stick her whole career with research and launch of cosmetic products.
Kylie even imagined that she would pass on cosmetics business to daughter Stormi someday, if she grew up and also interested in the field.
Currently, it is unclear what Kylie is spending a lot of time and effort on, and what she is contributing to the cosmetics company that is no longer under her control. However, Kylie can still be seen as a young, active and successful businesswoman.
Through the early years of his youth gained fame and fortune, especially successful in his own business, "opening the door", perhaps the current controversy surrounding Kylie Is it a USD billion or not just as a test for the bravery of this young girl.
After the advantages, successes, encountering stumbles, controversy is also ... normal and Kylie is showing herself quite calm.
In the Kardashian-Jenner family, there is also the son-in-law - rapper Kanye West, husband of Kim Kardashian, also had a disagreement with Forbes magazine, when the rapper had to send many financial proofs, to be published. Forbes magazine rated a billionaire USD in April last.
But the estimated value of assets that Forbes made for Kanye West (about $ 1.3 billion - according to Forbes) still makes him feel unsatisfied, saying that is ... too low compared to what you really own (about 3.3 billion USD - according to Kanye West).
The Kardashian-Jenner family which was originally associated with the controversy, things like this were not a shock to them in the end, but on the contrary, the names of family members appeared ... denser. on the newspaper.
