°
Newark

Forbes magazine Kylie Jenner deprived of billionaire status

Forbes expelled TV star and businesswoman Kylie Jenner from the list of billionaires, after it became clear that its brand is worth less.

The magazine analysts reassessed her condition, based on the documents provided editorial company Coty, which last year bought Jenner 51 percent of her cosmetics company (through this transaction, which was completed in January this year, Kim's business was worth $ 1.2 billion).

However, after the study, which also took into account that the pandemic coronavirus sharply decreased sales, it follows that now as Kylie Jenner is approximately $ 900 million.

This amount includes 340 million (after tax) received by the star from the deal with Coty, as well as the remaining portion of her brand — 44.1% (although it was originally said about 49 percent). But Forbes found out this difference stems from the fact that Kylie's mom Kris Jenner owns a small part of the company daughter.

For the first time, the businesswoman was in the rating of the youngest billionaires in March 2019 (in 2014 she started the business — have released a line of lipsticks, and then quickly expanded it). While many praised Kylie for the fact that unlike many other rich men, she earned the state itself.