When she was introduced to the world in 2007 as the youngest of Caitlyn (Bruce) Jenner and Kris Jenner’s six children on the E!’ network’s “Keeping Up with the Kardashians,” Kylie Jenner immediately became a household name.
After having grown in fame and influence, she made “Forbes” magazine’s billionaire’s list in March 2019 at age 21. Once touted as the youngest self-made billionaire, Kylie is now being outed for apparently lying about her actual financial worth.
Photo: Youtube.com
The young star’s personality and unique fashion statements helped her to become a one of America’s wealthiest, most beloved reality stars, as she has earned a following of approximately 178 million Instagram followers and averages tens of millions of likes on her posts.
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Helping to push Jenner even further up the popularity – and financial—ladder was her adored beauty empire.
Having spent more than a year denying public speculation that she had been using lip filler injections, Jenner finally confessed to doing it in May 2015, and after spending years endorsing other products, the mother of one decided to use her confession as a marketing opportunity and launched her own company, Kylie Cosmetics, at just 18 years old.
Her company’s $29 lip kits — which feature a lip liner and matching lipstick—were launched in November 2015 and sold out before she “even refreshed the page,” as she made in a statement to “Forbes” magazine.
Photo: amazon.com
During the first 18 months of the 22-year-old’s business, revenues from Kylie Cosmetics were reaching $400 million with an Oppenheimer report projecting that sales would top $700 million by 2020.
With sales number climbing quickly, the young beauty mogul was worth $900 million and on track to be the youngest self-made billionaire—or at least she appeared to be at the time.
Photo: Forbes.com
(L-R) Kim Kardashian, Kris Jenner and Kylie Jenner
Photo: hollywoodlife.com
At the time of publishing the August 2018 “America’s Women Billionaires” Forbes magazine issue featuring Kylie on the cover, her family—including sister Kim Kardashian and mother Kris Jenner— and fans publicly expressed their pride and respect. However, she also faced backlash when people insisted that she was not a “self-made” success.
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But recently, Forbes released newly found data proving that aside from speculation about whether or not Jenner’s financial success was “self-made”, she certainly was never a billionaire to begin with.
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On Friday, May 29, the global business company released an article correcting their previously-made error, inviting the public into Jenner’s “web of lies.” In the article, the company states that “any doubts that Kylie wasn’t a billionaire were seemingly erased in November 2019, when $8.6 billion (revenues) Coty announced it was snapping up 51% of Kylie Cosmetics for $600 million, effectively valuing the business at about $1.2 billion” which, in turn, gave “clear proof of her billionaire status.”
Turns out, however, that Kylie Cosmetics was “a lot smaller than everyone had expected,” a Jeffries analyst stated.
“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,” the magazine article stated.
Where Jenner and her mother had led Forbes to believe that the beauty company had generated $360 million, in actuality, it only brought in $125 million that year. Jenner’s team also reported that the company acquired $100 million in revenue during its first month and a half, while filings revealed that the company was only “on track” to bring in $25 million by the end of the year.
To make matters worse, the company—in which the public believed to be 100 percent-owned by Jenner — is only approximately 44 percent hers.
While Forbes has not been able to prove it, they speculate that Jenner and her mother have lied about the actual size of Kylie Cosmetics since 2016, while “having their accountant draft tax returns with false numbers” as a way to increase Kylie’s apparent wealth.
Following the revelation, people took to Twitter to express their disappointment—or the lack thereof—about the situation.
Jenner even took to the social platform herself to express her disappointment in what she believed to be a “reputable site.”
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Maybe this situation proves that what’s done in the dark will always come to light, but it also proves that even though Jenner is not as big of a financial success as she pretended to be, she’s still doing very well—especially for someone her age.
Here are the ways in which she is still a financial success:
She earns $4.5 million per season of “Keeping Up with the Kardashians”.
Photo: usmagazine.com
Although she hasn’t appeared in as many episodes as her sisters Kim, Kourtney and Khloé, the youngest of the Jenner/Kardashian squad is paid fairly equally.
She can charge a brand approximately $1,266,000 for an Instagram post.
According to the Economist, it would take the average US household 19.3 years to gross $1,000,000 dollars. Kylie Jenner, however, can make even more than that with just one Instagram post.
Here’s a photo of Jenner with her daughter with rapper Travis Scott , Stormi Webster:
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She rakes in cash from endorsement deals.
While the actual amount has not been reported, Jenner is said to be making a load of cash from endorsement deals with Puma, Fashion Nova, Sugar Bear Hair vitamins, Adidas and a list of other companies.
Photo: thefashionspot.com
She used $250,000 of her modeling earnings to fund Kylie Cosmetics.
Her sister, Kendall Jenner, may be the highest paid model in the world—leading with $22.5 million—but Kylie is bringing in a pretty steep paycheck from modeling as well.
Photo: YouTube.com
In 2015, she launched a personal app, which offered Kylie’s fans a chance to take a deeper look into her life, that generated $105,170 on the first day. Although she has stopped posting to the app, it was earning her a whole lot of money .
Photo: blog.streetwearofficial.com
“Forbes” has now reported Jenner to be worth just under $900 million.
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