Forbes.com has recounted its position on Kylie Jenner being a billionaire, OYOGist.com reports.
According to the magazine’s explosive article of 29th May, where she was ungloriously denounced as a billionaire, by the same media house that spent millions marketing her as the youngest billionaire ever, even to the point of comparing her to tech geniuses such as Facebook’s Mark Zuckerberg and Snap Inc’ (Snapchat) founder, Evan Spiegel, ” no one cares more about the topic than the family itself, which has spent years fighting Forbes for higher spots on our annual wealth and celebrity earnings lists.”
Forbes relies on a team of researchers as well as public and private financial documents to arrive at its estimates of net worth for the world’s richest people, rather than taking their claims at face value.
“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”.
Kylie sold 51 per cent of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion in January. “Even after pocketing an estimated $340 million after tax from the sale, Forbes claims Kylie is still not a billionaire.
Kylie has since reacted to these claims saying Forbes had insufficient proof of the claims laid against her.
“ but okay 🤍 i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine”.