Funds Running Low…er.

Last year, Lip Kit entrepreneur and youngest of the Kardashian/Jenner clan made history as the youngest “self-made” billionaire. The proclamation was made by Forbes, the longstanding leading source for reliable business news and financial information after Jenner sold 51% of Kylie Cosmetics to a beauty conglomerate, Coty Inc. for $600 million. Over social media, the term “self-made” in regard to the Kylie has been debated due to her fame originating via proximity to her sisters, however, technically since it is a company she built, self-made is appropriately used

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This year, Forbes is singing a different tune. According to the magazine, Kylie’s business is significantly smaller and less profitable than what is in the public perception based on filings released by Coty. There are two theories at play here: either Jenner’s earlier statements regarding the worth of the business were inflated, or the business has rapidly declined in worth within a year. Experts are leaning toward the former, with the magazine stating that Jenner’s camp may have provided fraudulent documents to amp up the company’s net worth.  Either way, Jenner will be okay – Forbes recalculated her net worth at a just under $900 million. Kylie took to social media and responded to the report stating “I’ve never asked for any title or tried to lie my way there EVER” and there are “100 things more important than fixating on how much money I have” amidst the climate following the death of George Floyd.

Which theory do you think is more believable here?