Kylie Jenner is no longer a billionaire!
The sale of 51% of his business to Coty revealed values well below what had been disclosed.
Kylie Jenner can be a real inspiration. At just 22, she owns a powerful cosmetics company, having even won the title of world's youngest billionaire. However, according to Forbes, the figures unveiled by the young woman are just a lie.
In an article, the publication looks at the strategies used by the young woman to show that she had more money than she actually has.
According to Forbes, since 2016, the young woman has posted powerful numbers, such as, for example, her company's $ 307 million revenue in the first year of operation.
In November 2019, when 51% of the company was sold for $ 600 million to Coty, Forbes says any doubts Jenner wasn't truly a billionaire was dispelled. But, the actual numbers were very different from those that were released.
Revenue for the 12 months leading up to the deal was estimated at $ 177 million, but Coty said $ 125 million. "If Kylie Cosmetics made $ 125 million in sales in 2018, how could she make $ 307 million in 2016 (as a tax return) or $ 330 million in 2017?" questions the publication.
But even if the amounts have been changed, a used bank account still seems substantial. According to Forbes, he must have "less than $ 900 million".
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
In a tweet, the young woman spoke: “I thought it was a respectable site. All I see are several inaccurate statements and unproven assumptions. I never asked for a title nor tried deny".
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
In another text, she says, "I can cite a list of 100 more important things now than focusing on how much money I have."
i can name a list of 100 things more important right now than fixating on how much money i have
— Kylie Jenner (@KylieJenner) May 29, 2020
