Back in November 2019, we wrote an article about Kylie Jenner (who owns Kylie Cosmetics and then sold 51% to Coty) becoming the youngest Billionaire according to Forbes as she was worth a little over a billion dollars!
Well guess what? After further detailed investigation, #Forbes has stripped her from that billionaire title and has declared the Jenner family as a fraud as they did more than lied about Kylies finances and profits, they faked tax information just to show that she was worth a billion dollars.
According to Forbes,
“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.
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 cosmetics industry and media outlets, including Forbes, to believe.
Of course, white lies, omissions and outright fabrications are to be expected from the family that perfected—then monetized—the concept of “famous for being famous.”
