Forbes Exposes Kylie Jenner For Lying About THIS ...
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- เผยแพร่เมื่อ 21 ก.ค. 2024
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Who do you Believe Kylie Jenner or Forbes?
Forbes just published a scathing report claiming Kylie Jenner is NOT a billionaire and KYLIE has responded
Kylie was crowned the YOUNGEST self made billionaire at 21 by Forbes back in 2019, Today they REVOKED that status in a report titled "Inside Kylie Jenner's Web of Lies - And Why She's No Longer a Billionaire.
Kylie’s Billionaire status was solidified when:
She sold 51% of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion, Forbes now thinks that Kylie even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire.
“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.”
Forbes went into DETAIL on how they think she’s been inflating the business and took things all the way back to 2016 analyzing Kylie’s business claims from her first 18 months
After consulting analysts who also found the claims implausible, they settled on:
QUOTE: “a more reasonable estimate for our 2017 Celebrity 100 list: $41 million in overall earnings for Kylie, good for the No. 59 spot. Kris was “so frustrated,” the Jenners’ PR flack shot back. “We’ve done so much.”
A few months later a WWD article came out using the exact numbers the Jenners first tried to give Forbes.
A quote from that article said:
“There has been raging speculation about the size of her business, with guesstimates ranging from $50 million up to $300 million. Well, here’s the bad news for more-established beauty players: Jenner’s surpassed the higher figure with ease. Kylie Cosmetics actually has done $420 million in retail sales-in just 18 months-Kris Jenner revealed. . . . ”
“and they provided WWD with documentation.”
Forbes the followed up:
"Based on her rapid success-certified by industry sources, plus those 2016 tax returns-Kylie appeared on the cover of Forbes magazine in July 2018, ranking No. 27 on our listing of the richest self-made women. At age 20, she was worth $900 million, we estimated, and would soon become the youngest self-made billionaire ever."
SO let’s jump back to present day and dive into this new information that’s led Forbes to REVOKE her status
According to a Coty presentation-
Revenues over a 12-month period preceding the deal were $177 million--far lower than the published estimates at the time.
Coty said that sales were up 40% from 2018, meaning the business only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe.
Forbes was also told by Kylie’s reps that her skin care line, which launched in May 2019, did $100 million in revenues in its first month and a half
The filings show the line was actually “on track” to finish the year with just $25 million in sales.
They are also alleging that Kylie did not own the business outright:
Coty’s purchase agreement specifically lists a “KMJ 2018 Irrevocable Trust,” controlled by Kristen M. Jenner, as owning a profit interest in Kylie Cosmetics.
In their report Forbes poses this question QUOTE:
“If Kylie Cosmetics did $125 million in sales in 2018, how could it have done $307 million in 2016 (as the company’s supposed tax returns state) or $330 million in 2017?”
They offer two theories to explain:
1. Kylie’s business quietly fell by more than half in a single year.
^say this is unlikely
2. “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. While we can’t prove that those documents were fake (though it’s likely), it’s clear that Kylie’s camp has been lying.
“Taking all this new information into account and factoring in the pandemic, Forbes has recalculated Kylie’s net worth and concluded that she is not a billionaire. A more realistic accounting of her personal fortune puts it at just under $900 million”
Kylie took to Twitter to DIRECTLY respond to the report in a series of tweets
Kylie’s attorney also released a statement to People:
Follow:
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They are lying about:
Face
Body
Money
Kindness
Being original
s Love does so much jealousy hurt?
and selfmade🙄
@@alexandertakos7840 it’s truth, not jealousy. Anytime someone says the truth about this family, we are jealous. Stop gaslighting us.
she was never a self-made billionaire as it was! 🤔
Shelby Paul you are sooo jealous 😂😂😂
💯
@@alexandertakos7840 How is that jealousy? Maybe you're just a fanboy? What she said is 100% factual.
Kay F Biz AGREED. Pure facts. She’s not self-made. She didn’t set up anything on her own. She didn’t research cosmetics. She had nothing to lose if the company failed. She already had a hefty bank account and a family with millions. She was approached by a company who did all the work and she sold millions of lip kits to gullible girls, who believed her lies that she’d never had lip fillers. Her hundreds of millions weren’t enough, so she lied to look like a billionaire just to make her already gullible fans think she’s even more successful than she is and get a deal with Coty. How sad to be that greedy. The whole family will sell anything for money. No morals. Just pure greed. Think it’s time people stopped making this family more rich than they already are.
Alexander Takos Facts. Not jealousy.
She’s saying that there are more important things right now? Lol, then why don’t you speak on it?
Good point!
I am feeling embarassed for this family like this is a shame
Hun... r u kidding? She's rich. Rich folks lie all the time. Why you think President Trump dont wont you to see his TAX RETURNS. Why because he probably lying how RICH he is....
@@loretyoung536 yeah what can people expect from people like them 🙂 humanity probably doesn't exist more
Forbes is smart to dig back into everything they did!
How u gonna blame then for being tricked ☠️
WAIT you mean to tell me that the Kardashian/Jenners LIED? OMG what a shock no one could have EVER seen something like this coming. I mean even the world's best psychics could not have predicted any of this. OMG... I rolled my eyes so hard I saw the Big Bang.
I could.
Big bang never existed
🤣 Yeah, I can’t believe they are liars. I thought Kylie, Khloe and and Kim were telling the truth when they said their figures just suddenly changed overnight with a bit of working out. They’d never consider dabbling in fat transfer. No, no, it was natural. All of a sudden Kylie and Khloe had small waists and curvier hips and bigger butts. And Kylie and Kendall had eyes that lifted on their own and noses that neatened and lips that grew bigger naturally and nasal folds that filled out with puberty. All this time I believed it was a natural process. It’s the shock of the century for sure.
@@lesleymbuyikayembe7553 it does I hate to bust your bubble
By getting her on Forbes Mag is a ploy to increase sales period. They will lie through their fake porcelain teeth about anything. Title begets money. Kanye’s probably so secretly thrilled, he’s been reaching for that title his whole life.
I can hear Jeffree Star laughing 😆
Yassss!!! 😂😂😂 She was never self made and shouldn't have been nominated to begin with.
😂
😂 😝 😆
If Kylie is speaking the true, she has to sue Forbes, they just didn't made it up some story, in my view, they accused her of fraud, If they are the one lying she has to clear her name. If she don't, perhaps they're right and she did lied about her earns.
She didn’t lie to the tax man, she lied to a magazine. That’s not fraud, that’s just being a shitty human being.
She will not sue Forbes. She already has pulled a heist by selling part of her company at an inflated price. Stirring this pot will only hurt her.
Why do people stick up for these people,use your brains,people
Thank you! I never understood that either. I've literally gotten hate thrown at me for having that opinion, as people say "oh she's so nice or oh this or that....my anseet is always the dame "oh so you must know her" and yet, not a soul actually does. My biggest pet peeve! If you don't personally know someone you have NO right to say that shit. Stupid people wanting to look....i don't know, stupider?
People no longer likes truth
They grew up with this family on their television sets. I never liked them, but I understand the programming. TV programs you, all right.
Fake:
Body
Face
Money
And etc.
I think Kylie lied through her "store bought lips"..😂😂
Why are we ok with her making 1/3 of the profits? That point was glossed over. This is why we have wage inequality. CRAZY!
"It's just nice to know Kylie is more like us" ok?! good thing you caught yourself (or Fiona did)
So the real youngest billionaire are Alexandra and Katharina Andresen(sisters). They have over 1.1 billion each.
Yes, but they’re not self-made. They inherited. Forbes should never have crowned Kylie as ‘self-made’ because she isn’t.
Shes deflecting.
When people lie they always find some way to use the 'Lol' in the sentence
Seriously they all need to shut it! Who cares about that people with families aren't working and not getting money right now! They are worried about status qu o!$@# Really?
She was never self made, to begin with. She shouldn't have been nominated. Her business was built upon the millions her family made.
I agree
Shouldn’t Forbes have done their homework before they put her on their cover??
They are plenty of people out there who falsify information. It’s their responsibility to double check info. And like Kylie says, there’s more pressing issues in the world right now.
Poor credibility on both parties🤗
I think the lawyer's response makes it obvious she lied. Otherwise they would've ended off by saying they'll sue if Forbes doesn't retract.
The 2016 figures were over 300mill but 2018 it was 125mill 🤣🤣🤣😱
Here's a deal there was a pharmaceutical company that did the same thing and when they got caught in this kind of scandal the fraud of it they lost their asses. They did the same thing they cook the books so that it looked like they were pulling in more money than they were, so that investors would put more money into a company that was actually failing. Because the cost of overhead was way higher. And if they didn't cook the books they would have been in the negative.
I guarantee you that's what her and her family did. And being that she's got all this money, how come her and her lawyers haven't gone after a slander lawsuit? cuz they did just call the entire family a bunch of frauds and liars? Because if they did go after lawsuit, the country would really see that she is and her family is nothing but a bunch of fraudulent liars.
Good thing I’ve never bought any of KJ products
I agree it is not the time however for Forbes to come out with this something had to happened for them to bring it up. Because let's be real who would have known this unless they said it. I think its wayyyy more to the story.
Soooo, Forbes didn’t double check ? Just took her word for it ? (Commenting before watching the full video so not sure if you touched on that)
Don't think this surprises anyone. While I am sure TONS of Women use her cosmetics (although I have never seen any of the girls I've ever hung around use it. And im 24 and it seems to be marketed towards ppl my age and younger...), I still have alwats found it hard to believe that she became a BILLIONAIRE that quickly that young. Although I figured it was possible. But now we know pretty much for sure (unless Forbes is lying/wrong. Which I doubt) that it was not true.
Either way, she's right on the precipice of being a Billionaire anyway. So this doesn't change much...
Oh, and I'm sure she worked tirelessly for every last cent of it...
Lol
@@LM-kd2zm True, well im sure if she ends up getting in any sort of trouble it'll end up just being a slap on the wrist, unfortunately.
After all she's Kylie Jenner, right?...
Pretty pathetic ..
I guess we'll hav to wait nd see.
My aunt is worth over 3 billion. I will NEVER see a dime, nor would her brother (my dad). The mega rich don't know half the shit regular people kno (Ex. One Thanksgiving during the peak of Blockbuster day's (chain of VCR libraries) my sister asked if she had seen a certain film that was not in theaters (aunt replied "what do you mean, renting a video? Where do you do that, and why? I'll just buy it" .....no joke.
Some, not all, just are that clueless (ex 2. my cousin asking if I made enough as an ASSISTANT TEACHER in a crazy fancy private school in NYC) she says "well i know, I'm sure, what 70k isn't nearly enough." Haa! Try less than 35k! Clueless to more clueless to more, its so sad really. Life is so much more interesting when you actually have to deal with ohhh, judt ummm life stuff. #richdontmeantshit
Fake from tip to toe and now to her pockets!
Its funny how the Kardashians keep up with their tradition of getting more and more infamous and scandalous. Their motto is "Negative publicity is still publicity"....
UMMMM SO WHY WOULD THEY LIST HER AS A BILLIONAIRE AND PUT HER ON THE COVER OF FORBES MAGAZINE WITHOUT FACT CHECKING ALL OF THIS BEFORE GIVING HER THIS TITLE SHE'S NOT THE ONE LOOKING LIKE AN IDIOT AT THIS POINT THEY ARE. 😂
It is not abt. How much is her money. The point is she lied! Get it? They lie about anything/everything even cosmetic surgeries!
So
this family...is a just SHAM ..so sad
I literally just realized that I’m not even sure how Kylie even sounds , like I knew I didn’t “keep up with the kardashians” but damn , didn’t know I distanced myself that much haha
Talk about making money on lies 😆😅😅
I hope Coty sue and get their money back.
I smell a storyline coming
I don't understand why people keep saying Kylie and Kendall are a Kardashian they are not a Kardashian they are a Jenner lol
Off topic ... and no shade - is that right hair line on the girl on our right her actual hair line or bangs? Was distracted by it all the time so I'm wondering. Girl is beautiful, don't get me wrong!
Imagine if Kylie sues somehow and gets over 100 mil and that brings over to the billion mark
But she won't sue because she lied.
What a shame
Whether billionaire or not.still love her
Ummmmmm in the world there's more important things going on, but in THEIR business, it is important because it's how they are running things and it's their business!! If Kylie gets her lawyer involved, she is going to fck herself so bad!! These accusations can and will start an investigation from the IRS, homeland security and the IRS!! This is serious and her being embarressed isn't the important part!! It's the appropriate time for the owner of the business and she's just saying"it's not tha time", because she knows that she's fcked up now!! She could wind up spending more money than she has if she has to go to court
I think one of the main points is going over our heads cause we Poor, but in 2018 her net worth was 900mil present day 2020 she still isn’t worth 900mil a lot of ppl can’t say they a billionaire off of that and she made money off a lie
Maybe the numbers were a projection...
They need to go to jail
Who she foolin?
i think forbes is mad that she lied and potentially ruined their credibility, not that they care shes worht 900 m vs 1 billion. dont detract from the gist!
I definitely side with Forbes on this.
I’m sorry to bring this up but is it really possible Selena Gomez is not worth over 100 million yet? Her number are the opposite of Kyle. 🤔
Has anyone here ever purchased a Kardashian product?? I know I haven't! Of course their tax returns are false! Good job, Forbes for getting it right, finally. This family has to be the freakiest in history!
Youngest self made billionaire ever,?seriously kylie. Shes rich just like other celebrities. But thats not her title. Never well.
She pulled a Trump....
Dose she know how to cont money
Er... She's still rich...
Kylie isn't face made paris made Kim and Kim made the rest and E! Made them bigger
keeping up with the Kardashians shouldn't be a reality show anymore sry.
Haven't watched that show in years
@@victorybeginsinthegarden smart not watching it in years! it's all drama and stupid shit that people have in their own lives which you already know but nobody needs someone else's drama!
It's exactly what Trump did in the 80s. Call the papers, say you're a billionaire and you attract investors.
No matter what we are still Kylie's fans. Love her forever.
...speak for yo yourself
I could’ve told y’all when she was on the cover of Forbes that was a lie. I like Kylie but not enough to believe a lie that is obvious
No matter what she's rich and who care's if she not a billionaire.
*The liar trump playbook! What else!*
12:13 highschool grad ...