Forbes removes Kylie Jenner from billionaire list, accusing reality star of inflating cosmetics business value

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Jenner sold 51% of her Kylie Cosmetics company to Coty in a deal valued at 1.2 billion dollars last year.

FORBES HAS REMOVED Kylie Jenner from its list of billionaires and accused the reality star of inflating the value of her cosmetics business.

The article said: “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. The spat between Jenner and Forbes spilt over to Wall Street, where shares of New York-based Coty Inc fell more than 13% on Friday.

She is the younger daughter of Kris and Caitlyn Jenner, sister to Kendall Jenner and half-sister to Kim, Khloe and Kourtney Kardashian. #Open journalism No news is bad news Support The Journal Your contributions will help us continue to deliver the stories that are important to youThe story acknowledged that the coronavirus crisis and its effect on the cosmetics industry has hurt her net worth.

 

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