CALIFORNIA-(MaraviPost)-Forbes on Friday May 29, 2020 removed Kylie Jenner, the renown ‘self-made’ makeup mogul, 22 from the list of billionaires after discovering her fabricated financial documents.
According to the public financial disclosures report issued by Forbes, it revealed that Kylie together with her family lied about her company figures and forged tax returns to be dubbed a billionaire.
Forbes Magazine hailed Kylie the youngest ever self-made billionaire in March 2019 at the age of 21 after she revealed her US$1 billion net worth taking the title from Facebook co-founder Mark Zuckerberg, who became a billionaire in 2008 at age 23.
The reality TV star who launched her beauty brand on November 30, 2015 primarily generates her income from her makeup company, Kylie Cosmetics and in 2019 she was valued US$900 million with a projection of US$1 billion in lifetime sales by 2022 after signing an exclusive distribution deal with the retailer Ulta.
A report by Daily Mail indicated that in January this year, Kylie sold 51 per cent of Kylie Cosmetics to beauty giant Coty in a deal valued at US$1.2 billion but only pocketed US$340 million after tax from the sale and her personal fortune is just under US$900million and not as earlier stated.
Commenting on the bombshell report, Kyle has slammed Forbes for publishing it claiming she never asked for the title or tried to lie her way there.
Kylie Kristen Jenner (born August 10, 1997) is an American media personality and businesswoman. She has starred in the E! reality television series Keeping Up with the Kardashians since 2007 and is the founder and owner of cosmetic company Kylie Cosmetics.
