Kylie Jenner, the most popular member of the Kardashian clan, has achieved unprecedented fame in a remarkably short span of time. According to Forbes, at the tender age of 21, she became the youngest self-made billionaire in the world. However, the Kardashian family has been embroiled in numerous scandals over the years, and Forbes reported in 2020 that Kylie had made false statements on her tax returns.
Kylie Jenner’s meteoric rise to fame began when she was just a teenager. She first gained public attention as a result of her appearances on the reality TV show “Keeping Up with the Kardashians,” which chronicles the lives of her famous family. As she grew older, Kylie began to carve out her own niche in the world of fashion and beauty, launching her own cosmetics line, Kylie Cosmetics, in 2015.
Kylie’s cosmetics empire quickly became a sensation, with her products selling out within minutes of their release. Her signature lip kits, which include a liquid lipstick and matching lip liner, were particularly popular, and helped to establish Kylie as a major player in the beauty industry. In 2018, she expanded her product line to include skincare products, further cementing her status as a beauty mogul.
Despite her enormous success, Kylie has not been immune to controversy. In 2019, Forbes published an article questioning whether she was truly a self-made billionaire, given that she had come from a wealthy and well-connected family. The article also raised questions about the accuracy of financial information provided by Kylie and her team.
Then, in 2020, Forbes reported that Kylie had made false statements on her tax returns in order to inflate her net worth. According to the publication, Kylie’s team had provided them with tax returns that showed her company’s revenue at $307 million for 2016 and $330 million for 2017. However, when Forbes obtained documents from Coty Inc., the company that acquired a majority stake in Kylie Cosmetics in 2019, they found that the actual revenue figures were significantly lower.
Forbes reported that Kylie’s company had generated $125 million in revenue for 2018, not the $360 million that had been claimed. They also found that Kylie’s personal net worth was likely closer to $900 million, rather than the $1 billion that had been previously reported.
Kylie responded to Forbes’ allegations on Twitter, writing that “what am i even waking up to. i thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period.”
Despite the controversy surrounding her net worth, Kylie remains one of the most influential figures in the beauty industry. Her cosmetics line continues to be wildly popular, and she has used her platform to advocate for causes such as Black Lives Matter and LGBTQ+ rights.
In conclusion, Kylie Jenner’s rapid rise to fame and fortune has been nothing short of remarkable. While she has faced criticism and controversy along the way, there is no denying that she has made a significant impact on the beauty industry and popular culture as a whole. Whether or not she is truly a self-made billionaire may be up for debate, but there is no denying that she has achieved an incredible level of success at a very young age.