As we reported here, last year reality star-turned-beauty-mogul Kylie Jenner was at the center of a controversial debate on her ‘self-made billionaire status’ after Forbes magazine crowned her such thanks to the sale of her Kylie Cosmetics company (which the Wall Street Journal reported was a deal worth $1.2 billion at the time).
However, Forbes took to print Friday (May 29) to refute the year-old claim, even stating the company “is significantly smaller, and less profitable than the family has spent years leading the cosmetics industry and media outlets to believe.”
Ouch! More inside:
In a fiery article, the money mag stated:
“Earlier this year, Kylie Jenner sold half of her cosmetics company in one of the greatest celebrity cash-outs of all time. But the deal’s fine print reveals that she has been inflating the size and success of her business. For years,” the report states.
As a result, they estimated that she is not a billionaire and instead sees her fortune clock in at “just under $900 million.”
When the story reached the desk of Jenner, she took to Twitter to defend herself and redirect the conversation.
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