Forbes revoked Kylie’s Billionaire status
In 2019, Forbes named 21-year-old Kylie Jenner, as the Youngest Self-made Billionaire. But recently, Forbes took her title away, stating that her tax records are a “web of lies.” They claim “[Kylie] inflated the size and success for her business for years.”
Forbes also informed that the Jenners went to unusual lengths by “inviting Forbes into their mansions and CPA’s office.” Thus, it portrays “just how desperate some of the ultra-rich are to look even richer”, according to Forbes.
This came after cosmetics giant, Cody purchased 51% worth of stakes in Jenner’s Kylie Cosmetics for $600 million. As a result, the details of her company were out in the open. After taking those into account, Forbes realized “Kylie’s business is significantly smaller and less profitable” than the family claimed.
What does Kylie have to say in this regard?
Kylie denies Forbes’ allegations and calls them “unproven assumptions.” She adds, “I’ve never asked for any title or tried to lie my way there EVER”.
The celebrity’s attorney, Michael J Kump, addresses these allegations as “outright lies”. He furthers asks Forbes to “immediately and publicly retreat” their statements.
Kylie is still living like a billionaire, Blew Through $130 on Jet.
The KUWTK star is known for spending extravagantly on her friends and family. On this Mother’s day, she gifted crystal cheetah pouches to her sisters by Judith Leiber.
Jenner invested $15 million on a piece of land near her current house. She also purchased another land for $3.25 million at the Madison Club in Palm Springs. And above all, she recently bought a Global Express Jet for reportedly around 50-70 million dollars.
In April, she treated herself with a$36.5 million Holmby Hills resort compound.
Sources have it that last year alone, Kylie spent $130 million of her cash.
Kylie’s wealth adds up to $900 million, although it revokes her status of billionaire.