Kylie Jenner Net Worth: The Truth Why Kylie Jenner Is NOT a Billionaire
At a young age, Kylie Jenner has transformed herself from being a reality star to business mogul.
The "Keeping Up With the Kardashian" star, who recently celebrated her 23rd birthday, currently owns a beauty empire that includes her beauty line Kylie Cosmetics and Kylie Skin.
The mother-of-one successfully has turned her passion and love for makeup into a multi-million dollar company. Now, she is considered as one of the richest Kardashians, alongside her older sister Kim Kardashian.
With her millions of followers in social media, the reality star was also named by Forbes as the highest-paid celebrity in 2020 with an estimated annual earning of $590 million.
Kylie Jenner Net Worth
So how rich exactly is the Kylie Skin founder?
Back in 2019 at 21 years of age, Kylie was hailed by Forbes as the youngest self-made billionaire. She took the crown from Facebook creator Mark Zuckerberg.
The following year, she remained at the number one spot in the same category. Kylie Jenner's net worth reportedly reached the $1 billion again, according to Forbes.
The outlet also pointed out that "despite a lot of help from her famous family," the beauty mogul created her business and did not inherit it.
To recall, the reality star first launched her brand Kylie Cosmetics offering only the lip liner and lipstick combo pack with a retail price of $29. According to reports, the famous lip kits were sold out in less than a minute.
Moreover, Forbes also mentioned that a big chunk of Kylie Jenner's net worth came from her cosmetic brand and skincare line.
Her value also increased more following her decision to sell 51 percent of Kylie Cosmetics to Coty Inc. for $600 million.
Kylie Jenner, Billionaire No More
Unfortunately, months later, the title of youngest self-made billionaire was revoked by the business magazine.
Published last May with the title "Inside Kylie Jenner's Web Of Lies-And Why She's No Longer a Billionaire," Forbes accused the 23-year-old Jenner and the famous momager, Kris Jenner, of forging tax documents and lying about the success of Kylie Cosmetics.
"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," as cited by the publication. "Based on this new information-plus the impact of Covid-19 on beauty stocks and consumer spending-Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire."
The beauty mogul immediately clapped back at Forbes and mentioned that there "are a number of inaccurate statements and unproven assumptions" in their story.
"I've never asked for any title or tried to lie my way there EVER. period," she wrote on her Twitter.
Currently, Kylie Jenner's net worth is roughly at $900 million, per Forbes.
