Kylie Jenner, someone who is loved by the gen Y, was considered to be one of the richest young celebrities by now. However, new has it that FORBES has decided to pull out the name of Kylie from the list of the richest celebrities. If you have always followed the news regarding Kylie, you would know that she is the youngest in her family, and in the month of January, she had decided to sell out around 51% of her company, Kylie Cosmetics. As you would already know, Kylie Cosmetics is a beauty giant, which is loved by the gen Y makeup lovers.
The Deal Worth $1.2 Billion:
For this deal, Kylie got a an amount of 1.2 billion dollars. For the entire family, this was surely one of the most important moments of their life. It turned Kylie into a billionaire. Soon after, Forbes also announced that she was indeed a billionaire. This announcement was made by the magazine in the year 2019.
The report by Forbes:
However, the recent report by the magazine, it is revealed that the business that Kylie manages is quite small in scale. Compared to the hype that is created around it, it doesnt fetch as much profit as it promotes. The magazine also says that compared to the number of years that this family has spent in the media industry, the amount generated by Kylie’s company is quite low.
Reaction of the Fans:
Fans have reacted in varied ways after it was revealed to them that Kylie Jenner is not as rich as it is portrayed on social media. A lot of fans also predicted that the family may react very weirdly after the news gets out. The company is expected to come up with a lot of lies as well as fabrication in order to prove its point. Alongside, the family may act as usual, which is to monetize the image of being famous. In the past, in an obsession to make people think that the family is filthy rich, it had invited a team from Forbes to their mansions. Alongside, the Jenner family had also created false and fabricated tax returns, just to make themselves look richer.
The Corona Effect:
The COVID-19 pandemic has also created a lot of trouble for Kylie. People are buying lesser beauty products and spending more on basic necessities. Thus, the stocks of Kylie Cosmetics have been affected quite a lot.
Once Forbes went out in public with its reports, Kylie Jenner responded to them through a series of tweets. She called the report false and dismissed the news altogether. She said that the statements are inaccurate, and there is no real truth behind them. Along with that, she said that she has never lied in the past, and this report is not really something she would want to think a lot about.
About the Past:
Its not the first time that Forbes has accused a billionaire of forging their income in order to make themselves look richer. Donald Trump was also blamed in the past to have forged his documents to make himself look richer than he really was.