What happened to Kylie Jenner’s billionaire status? Kim Kardashian becomes the richest sister
After Forbes updated its list of ‘America’s Richest Self-Made Women’, Kim Kardashian now has a net worth of $1.8 billion, while Kylie Jenner no longer holds the title of richest brother with a net worth of $600 million.
According to Forbes, most of Kardashian’s wealth comes from her shapewear brand, Skims, which raised $240 million in January 2022, and also doubled in value to $3.2 billion in less than a year. , as well as its stakes in KKW Beauty.
In April 2021, Kardashian was officially declared a billionaire by Forbes, courtesy of the two companies after racking up her total of $780 million by October 2021.
Now, Kim Kardashian is the richest Kardashian of all her sisters, including Kylie Jenner.
In 2020, Kardashian sold her 20% stake in beauty conglomerate Coty for $200 million, estimating KKW Beauty’s value at $1 billion.
However, fans were curious about the drastic change in Jenner’s net worth, with some comments under a Reddit post on the Forbes listing.
“Kylie’s net worth is interesting. How did she go from a fake billionaire to being worth around 900 million to now 600 million,” a fan wrote.
In 2019, Forbes named Jenner the world’s “youngest self-made billionaire” before later accusing the reality star of falsifying documents to exaggerate her wealth.
Jenner had become the richest sibling in the Kardashian-Jenner clan thanks to Kylie Cosmetics, which was valued at $1.2 billion.
In 2019, she ended up selling her 51% stake in the company to Coty for $600 million.
In 2020, Forbes reported that Jenner, along with her mother and manager, Kris Jenner, inflated their wealth in documents they sent, accusing “Kylie’s camp” of “lying.”
The Jenners had invited the magazine’s reporters to their homes and their accountants’ offices, and created tax returns “which were likely falsified.”
Reporters compared what Jenner did to former President Donald Trump’s efforts to look richer than he actually was.
The magazine estimated that Jenner’s actual net worth was likely “just under $900 million.”
Previously, Jenner’s net worth was estimated to be around $700 million, according to Parade.
“Kylie’s business is significantly smaller and less profitable than the family has spent years leading the cosmetics industry and the media, including Forbes, to believe,” the magazine said.
After Forbes published the article, Jenner tweeted that the story was based on “a number of inaccurate statements and unproven assumptions.”
“What am I even waking up to. I thought it was a reputable site,” she wrote, adding that she was “blessed beyond my years, I have a beautiful daughter and a successful business and I’m perfectly fine. »
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“I can name a list of 100 things more important right now than fixing how much money I have,” she concluded.
According to the updated 2022 Forbes list, Jenner “pocketed some $540 million, before taxes” after selling her stake in Kylie Cosmetics to Coty, but is believed to still own 41% of the makeup company.
Nia Tipton is a writer living in Brooklyn. She covers pop culture, social justice issues and current affairs. Follow her on Instagram and Twitter.
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