For the last 10 years, the Kardashians became the most popular family with millions of fans worldwide. You can find content about wherever you will look: in articles, videos, books, tv-series, podcasts, and other related things. Not one single person is interested more now about the war of this family against Forbes. For many years Kardashians tried to get higher positions and increase their wealth on Forbes.
But now everything changed, Kylie Jenner(who is the youngest from their family) sold 52% of her Kylie Cosmetics to another cosmetics giant called Coty, price of selling was 1.3 billion USD. That happened in January, and this affected family a lot. How? The main thing that Kylie Jenner is no longer the youngest billionaire in the world(maybe she was before pandemic). Some years ago she said that company which she own is willing to sell cosmetics on about 301 million USD, but actually, they sold something near 126 million, that’s more than 50% less.
This situation opened family secrets; they tried to look richer.
But now we know that her business was smaller, had less profit, and had a lower net profit. All of these they needed to get as much popularity as possible, stars always do that, and that was one way to do that. An interesting fact, they always invited Forbes redactors to their mansions to stay in touch with them. But now Forbes says that she is not a billionaire anymore.
Let’s see how everything started:
- Kylie earned around 260 001 USD from working as a model and “working” with Kardashians. Then she created the first pack of 15 001 lip packs, which included matching lipstick and lip liner that happened in 2015. As she will say later, everything sold out fast — under 60 seconds.
- At the end of 2016, she launched hundreds of different products connected with cosmetics, that opened her door into the cosmetics business.
- The family decided that she must be on the Forbes list. Revenue was about 401 million USD, Kylie portion — around 251 million USD. To prove that, they showed their bills and books.
Later Forbes checked everything and wrote 111 million USD personal profit for Kylie Jenner, which was enough to become number 2 on the Richest Celebrities list, where Taylor Swift still is no1. Not all believed in that in such a fantastic result that the company made 300 million in just one year. Some people did research and reported that she only earned 40 million USD — this is only number 60 on the list.
In 2019, Forbes journal said that Kylie Jenner is one of the richest self-made women. Revenue was about 401 million USD, and predictions were that it would be around 701 million USD in 2020.
But the same problem happened back in 2018; the company earned 126 million USD, nothing near 361 million as she said to redactors of Forbes.
After a new skincare line, Kylie says — that company got 101 million USD in revenue, but actually, that was only 26 million in selling products. Everyone was interested in how a company that made 306 million USD in 2016 and 331 million USD in 2017 earn funny 126 million USD in 2018, despite the company the annual “steady” growth…
We can imagine only one explanation of that — company became worse in just one year. Less successful and popular, leading to fewer sales. And there is more, but many experts do not believe that they are saying the company that big could not have lost so fast. If that real, how then Coty decided to buy that falling business.
The real reason — Kylie Jenner and her clan increased their profits to get those ranks in different rich people list.