𒊹︎ 𝙢𝙮 𝙧𝙚𝙥𝙪𝙩𝙖𝙩𝙞𝙤𝙣'𝙨 𝙣𝙚𝙫𝙚𝙧 𝙗𝙚𝙚𝙣 𝙬𝙤𝙧𝙨𝙚, 𝙨𝙤
Kassandra or Kass Jenner as she prefers is an singer, songwriter, actor, model, CEO (her own clothing and makeup brand) who is the youngest in her family being a few minutes you...
Inside Kylie Jenner's Web of Lies- And Whys She's No Longer A Billionaire
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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.
More than a decade into their fame, the Kardashian-Jenners tend to induce eye rolls and sighs among jaded media consumers. But when it comes to their wealth, even critics of reality TV's first family are intrigued; the Kardashian-Jenner machine—and the cash it generates—has been the subject of articles, podcasts, even books. But no one cares more about the topic than the family itself, which has spent years fighting Forbes for higher spots on our annual wealth and celebrity earnings lists.
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So when the second youngest of the clan, Kylie Jenner, sold 51% of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion in 2018, it was a watershed moment for the family. One of the greatest celebrity cash-outs of all time, the transaction seemed to confirm what Kylie had been saying all along and what Forbes had declared in March 2019: that Kylie Jenner was, indeed, a billionaire.
"Kylie is a modern-day icon, with an incredible sense of the beauty consumer," Coty chairman Peter Harf gushed when announcing the acquisition in November.
But in the deal's fine print, a less flattering truth emerged. 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.
