May 30, 2020
Forbes has removed Kylie Jenner from its list of billionaires and accused the reality star of inflating the value of her cosmetics business.
Forbes Remove Kylie Jenner From Billionaire List After Accusing Her Of Inflating Value Of Cosmetics Business
The magazine published an article based on an examination of financial filings after the beauty mogul sold a majority share in her cosmetics company.
She sold 51% of her Kylie Cosmetics company to Coty in a deal valued at 1.2 billion dollars (£1 billion) early this year.The article said: “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.
“Forbes now thinks that Kylie Jenner, even after pocketing an estimated 340 million dollars (£275 million) after taxes from the sale, is not a billionaire.”
Jenner responded in a series of tweets, saying: “What am I even waking up to. I thought this was a reputable site.. all I see are a number of inaccurate statements and unproven assumptions lol. I’ve never asked for any title or tried to lie my way there EVER. period.”what am i even waking up to. i thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period— Kylie Jenner (@KylieJenner) May 29, 2020“even creating tax returns that were likely forged” that’s your proof? so you just THOUGHT they were forged? like actually what am i reading.— Kylie Jenner (@KylieJenner) May 29, 2020but okay 🤍 i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine.— Kylie Jenner (@KylieJenner) May 29, 2020i can name a list of 100 things more important right now than fixating on how much money i have— Kylie Jenner (@KylieJenner) May 29, 2020The spat between Jenner and Forbes spilled over to Wall Street, where shares of New York-based Coty Inc fell more than 13% on Friday.
She later tweeted: “But okay, I am blessed beyond my years, I have a beautiful daughter, and a successful business and I’m doing perfectly fine. I can name a list of 100 things more important right now than fixating on how much money I have.”
Jenner’s business and Social Media prominence have made her stand out even in the exceedingly famous family behind Keeping Up With the Kardashians.
She is the younger daughter of Kris and Caitlyn Jenner, sister to Kendall Jenner and half-sister to Kim, Khloe and Kourtney Kardashian.
In March 2019, Forbes featured Jenner along with the headline “At 21, Kylie Jenner Becomes The Youngest Self-Made Billionaire Ever”.
On Friday, Forbes offered a starkly different headline “Inside Kylie Jenner’s Web of Lies – And Why She’s No Longer a Billionaire”.
The story acknowledged that the Coronavirus crisis and its effect on the cosmetics industry has hurt her net worth.But it said it is “likely” that the “business was never that big to begin with, and the Jenners have lied about it every year since 2016 – including having their accountant draft tax returns with false numbers – to help juice Forbes’ estimates of Kylie’s earnings and net worth”.
The magazine said it cannot prove the documents were forged, and Jenner’s lawyer said the story is “filled with outright lies”.
Michael Kump said: “Forbes’ accusation that Kylie and her accountants ‘forged tax returns’ is unequivocally false and we are demanding that Forbes immediately and publicly retract that and other statements.
“We would not expect that from a supermarket tabloid, much less from Forbes.”
Forbes spokesman Matthew Hutchison said the magazine’s “extensively-reported investigation was triggered by newly-filed documents that revealed glaring discrepancies between information privately supplied to journalists and information publicly supplied to shareholders”.
He added: “Our reporters spotted the inaccuracies and spent months uncovering the facts. We encourage her attorney to re-read the article.”READ MORE: Kanye West Is Officially A Billionaire, But The Rapper Thinks He’s Been Undervalued Cosmetic Filler Instagram Ads Banned For 'Misleading' Customers Forbes Editor Offers Non-Apology For Leaving Women Off Innovators List
Related Stories
Latest News
Top news around the world
Coronavirus Disease

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.

Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.

Around the World

Celebrity News

> Latest News in Media

Watch It
Can Lea Michele’s ‘mean girl’ behavior be forgiven? | Page Six Celebrity News
July 03, 2020
Sp-hyaacIB0
Will the 'Ellen DeGeneres Show' be canceled? | Page Six Celebrity News
July 01, 2020
w6fF_hmLmw4
Candace Cameron Bure wants these ‘Full House’ quotes to live on | Page Six Celebrity News
July 02, 2020
PRF4fuEHuSM
'Succession' Composer Nicholas Britell on How He Crafted the Music of Season 2
July 03, 2020
xgJUmZgGHUI
Kieran Culkin & Dan Levy - Actors on Actors - Full Conversation
July 03, 2020
x1U65peRmGo
Emmys 2020: Issa Rae, Linda Cardellini Among Possible Contenders for Lead Comedy Actress
July 03, 2020
DnMulYkHAGs
Jada's Affair?, Charlize Ther-Wrong Name & Housewives Hitman - "Nightly Pop" 07/02/20 | E! News
July 02, 2020
ZcwG2INSVRI
Chance's Relationship Fail, $1K Haircut & Jen's Advice - "Nightly Pop" 07/02/20 | E! News
July 03, 2020
mPSzAABN4yI
Twitch Streamer Byron "Reckful" Bernstein Dead at 31 | E! News
July 02, 2020
RCbdlgdydME
Parade of Trucks with Trump, Confederate Flags Blaze Down L.A. Streets | TMZ
July 04, 2020
e9t3VLZ9-2w
Lucas Grabeel Says He Wouldn't Play Gay 'High School Musical' Role Now | TMZ
July 05, 2020
m3e1EGMseWc
Dr. Charles Sophy Says U.S. Craziness May Get Worse | TMZ
July 03, 2020
TD8R6GsEh98
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
04
Jul
ENGLAND: Premier League
Wolves - Arsenal
04
Jul
ITALY: Serie A
Lazio - AC Milan
04
Jul
ENGLAND: Premier League
Chelsea - Watford
04
Jul
ENGLAND: Premier League
Manchester United - Bournemouth
04
Jul
ITALY: Serie A
Juventus - Torino
04
Jul
SPAIN: La Liga
Granada CF - Valencia
04
Jul
SPAIN: La Liga
Real Valladolid - Alaves
04
Jul
ITALY: Serie A
Sassuolo - Lecce
03
Jul
SPAIN: La Liga
Atletico Madrid - Mallorca
02
Jul
ENGLAND: Premier League
Manchester City - Liverpool
02
Jul
ENGLAND: Premier League
Sheffield United - Tottenham Hotspur
02
Jul
ITALY: Serie A
Roma - Udinese
02
Jul
SPAIN: La Liga
Real Madrid - Getafe
02
Jul
ITALY: Serie A
Atalanta - Napoli
01
Jul
ITALY: Serie A
Spal - AC Milan
01
Jul
ENGLAND: Premier League
West Ham United - Chelsea
01
Jul
ENGLAND: Premier League
Arsenal - Norwich City
01
Jul
ITALY: Serie A
Inter Milan - Brescia
30
Jun
SPAIN: La Liga
Barcelona - Atletico Madrid
30
Jun
ENGLAND: Premier League
Brighton - Manchester United
30
Jun
ITALY: Serie A
Genoa - Juventus
28
Jun
ITALY: Serie A
AC Milan - Roma
28
Jun
ITALY: Serie A
Parma - Inter Milan
28
Jun
SPAIN: La Liga
Espanyol - Real Madrid
28
Jun
ITALY: Serie A
Napoli - Spal
27
Jun
SPAIN: La Liga
Atletico Madrid - Alaves
27
Jun
SPAIN: La Liga
Celta Vigo - Barcelona
26
Jun
ITALY: Serie A
Juventus - Lecce
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k tudKp5Vhs3k iwWHibhssSo kQr0XHPbICM 5NeCb7JxaRk
Copyright © 2020 Feedimo. All Rights Reserved.