Forbes published a story “Inside Kylie Jenner’s Web of Lies – And Why’s She’s No Longer a Billionaire” which details the outlet’s interactions with Kris, Kylie and the family over the years. In March 2019, the magazine named 21-year-old Kylie the world’s youngest billionaire.
In January 2020, Kylie sold 51% of her Kylie Cosmetics to the beauty company Coty in a deal valued at $1.2 billion. Kylie and Coty both boasted about the deal in the press.
Forbes says the problem is the deal isn’t as glittery as Kylie made it seem. The outlet researched filings from the publicly traded Coty which revealed, “Kylie’s 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 article compares Kylie to Donald Trump with his “decades-long obsession” with his net worth. Forbes states, “the unusual lengths to which the Jenners have been willing to go—including inviting Forbes into their mansions and CPA’s offices, and even creating tax returns that were likely forged—reveals just how desperate some of the ultra-rich are to look even richer.”