Forbes magazine has been removed to the lower of the tv clan the Kardashian, Kylie Jenner, the title of milmillonaria granted to her for the first time in 2019, and which was renewed in 2020 by what has been called a “web of lies” with that has exaggerated the value of the company he founded, Kylie Cosmetics, the same as the one that just landed in Spain.
“Similar to the obsession for decades of entrepreneur Donald Trump with respect to its net value, the means resorted to by the Jenner -including invitations to ‘Forbes’ to visit their mansions or offices of public accountants, or even creating statements of income probably counterfeit – reveals how desperate are some of the ultraricos to seem even more rich” ensures an article from ‘Forbes’, published a few days ago.
The article ensures that, based on “new information” obtained, in addition to the impact of the pandemic coronavirus on the price of the shares of the company and the consumer spending, Kylie Jenner no longer has more than a billion of dollars that are needed to be considered a “milmillonaria” by ‘Forbes’.
In may 2015, Jenner launched with a $ 250,000 a successful line of cosmetics taking advantage of the controversy that lifted up their operations aesthetics among the younger, Shortly after, noted in the text, the Kardashian began an intense campaign to put Kylie in one of the covers of ‘Forbes’, ensuring that the company of the young man, who by then was 19 years old, had accumulated 300 million dollars in revenue in just one year, something “hard to believe”, as said by several experts that he consulted at that time the magazine.
For this reason, and for frustration of the Kardashian Forbes stood in 2017, the post number 59 of celebrities have better luck with the after calculating that he had entered about $ 41 million. But after, say, other publications, such as the fashion magazine ‘WWD’, or the media specialists in economics, ‘Fortune’ and CNBC, yes it was valid, the figure of the 300 million of the Kardashian, adding another 180 million from six months.
Thus, the opinion of the experts changed with the passage of time, and the figure of 330 million in revenue in 2017 began to be “credible”, so they gave Kylie Jenner a estimated value of $ 900 million to the 20 years.
The business was never so large
Any doubt that had exceeded 1,000 billion dollars seemed to dissipate in November of last year, when the giant cosmetics Coty announced that it would buy a 51 % Kylie Cosmetics for $ 600 million, placing the company value at 1,200 million.
However, when it passed into the hands of Coty, this company began to report profits of 177 million per year, well below the 300 million that the Kardashian’s had been insuring above. The reduction in profits, which fell 62 % between 2016 and 2018, is too pronounced to be real, according to experts interviewed by ‘Forbes’.
Most likely, says the article, is that “the business was never so great to begin with, and the Jenners have been lying about it from 2016, including having led to his accountant to submit fake numbers in the income statement. (…) Although we can not prove that those documents are false (although it is likely), what is clear is that the people of Kylie has been lying”.
The reaction of the entrepreneur and ‘influencer’ has not been made wait: “I thought that this was a web page with a good reputation”, he said on the social networks in reference to Forbes. “All I see are inaccurate statements and assumptions that have not been tested. I have never asked any title nor have I lied to get it. NEVER. And point”, settled.