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Financial Tales Part 1

SOLVED!

[Blind Gossip] Some celebrities love to lie about money.

This girl is one of them.

Our TV celebrity is part of a famous family. She claims to have scored big on the sale of her brand.

Maybe not.

The numbers were a lie.

So what was she paid for?

The important thing to know is that they refused to buy the brand unless she gave up controlling interest. She is completely incapable of running a company.

She was paid for the brand name and will get paid going forward to promote the brand and do photo ops.

The only way she will make big money is if they can save the brand and make it profitable.

It sounds like tales of her extreme wealth have been highly exaggerated.

The thinking must be that if she repeats the financial lie often enough… people will start to believe it!

Similar: Back Door Money

Celebrity:

[Optional] Do you consider her to be self-made?

SOLVED!

Celebrity: Kylie Jenner

Remember when Forbes put Kylie Jenner on their cover and declared that she was a self-made billionaire?

Ha ha ha.

Your friends at Blind Gossip told you that was a lie.

Now Forbes – yes, the same magazine – has admitted that the whole billionaire status claim was a lie.

In fact, it turns out that Kylie Jenner and Kris Jenner submitted bogus documents and tax returns to Forbes!

Their intent was to trick Forbes into putting Kylie Jenner on the cover and declare that Kylie was the youngest self-made billionaire of all time.

However, Kylie Jenner is not a billionaire.

Kylie Jenner never was a billionaire.

From Forbes:

Inside Kylie Jenner’s Web Of Lies – And Why She’s No Longer A Billionaire

Earlier this year, Kylie Jenner sold half of her cosmetics company in one of the greatest celebrity cash-outs of all time. But the deal’s fine print reveals that she has been inflating the size and success of her business. For years.

… But when it comes to their wealth, even critics of reality TV’s first family are intrigued; the Kardashian-Jenner machine—and the cash it generates—has been the subject of articles, podcasts, even books. But no one cares more about the topic than the family itself, which has spent years fighting Forbes for higher spots on our annual wealth and celebrity earnings lists.

So when the youngest of the clan, Kylie Jenner, sold 51% of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion this January, it was a watershed moment for the family…

… But in the deal’s fine print, a less flattering truth emerged. Filings released by publicly traded Coty over the past six months lay bare one of the family’s best-kept secrets: 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 very formation of Kylie’s cosmetic company was based on a lie. Check out Kylie’s lips in the photos below.

I’ve never used lip fillers! My lips are natural! Riiight.

Kylie’s business began as a way to cash in on a minor scandal. The youngest of the family, she spent more than a year denying tabloid speculation that she was using lip filler injections before eventually finally fessing up to it in May 2015. Far from embarrassed about being caught in a lie, she—and her shrewd mother, Kris—seized it as a marketing opportunity.

Kylie launched her first batch of 15,000 lip kits, consisting of a lip liner and matching lipstick, in November 2015. Thanks to clever Instagram marketing, the $29 kits were gone in less than a minute.

The financial lies about Kylie Jenner trace back to 2016, when Forbes gave Kim Kardashian the cover.

Kris Jenner wanted Forbes to give Kylie Jenner her own cover.

So she made stuff up.

Kris Jenner claimed that Kylie Jenner’s new cosmetics company had made $400 million and that Kylie Jenner herself had taken home $250 million.

Lies.

Then Forbes was shown official “books” claiming that the numbers were actually $307 million and $100 million.

More lies.

Kylie’s earnings were probably closer to $41 million. A huge amount of money… but nowhere near $250 million Kris Jenner had originally claimed!

A few months after her sister Kim Kardashian West scored a Forbes cover in July 2016, Jenner publicists began a campaign to “get a Forbes cover for Kylie.”

Revenues were $400 million over the business’ first 18 months, they said, with a personal take-home of $250 million for Kylie.

Pressed for proof, they opened up their books.

During meetings at Kris Jenner’s palatial Hidden Hills, Calif. estate and the family accountant’s office nearby, Forbes was shown tax returns detailing $307 million in 2016 revenues and personal income of more than $110 million for Kylie that year.

It would have been enough to put her at number two on the Celebrity 100 list, behind Taylor Swift, the accountant was quick to point out.

But the documents, despite looking authentic and bearing Kylie Jenner’s signature, weren’t exactly convincing since the story they told, of ecommerce brand Kylie Cosmetics growing from nothing to $300 million in sales in a single year, was hard to believe.

After speaking with a handful of analysts and industry experts who also found the Jenners’ claims implausible, we settled on a more reasonable estimate for our 2017 Celebrity 100 list: $41 million in overall earnings for Kylie, good for the No. 59 spot. Kris was “so frustrated,” the Jenners’ PR flack shot back. “We’ve done so much.”

Yes. We’ve done so much work lying, forging, and cooking the books that we can’t believe you didn’t fall for it!

You should note that Kylie’s signature was on these documents. That seems to indicate that Kris Jenner lied… and Kylie Jenner signed off on the lies. Kylie Jenner is probably not the innocent victim of her mother’s lies manipulations. She is in on all the lies, as long as it benefits her!

The Kardashian Jenner “family accountant” is also clearly a scamming liar.

IRS, take note. AICPA Ethics Committee, take note.

We’ve told you before that the Kardashians will do anything for publicity. You think that the Kardashians are a family. The Kardashians are actually a completely manufactured business enterprise (see The Third Shoe for details).

Anyway, back to our story.

Although she failed in 2016, Kris Jenner was still determined to get Kylie Jenner on the cover of Forbes. When Kylie sold her company to Coty, Kris Jenner somehow convinced Forbes that Kylie Jenner was now the youngest self-made billionaire in history.

This time Forbes fell for it and put Kylie Jenner on the cover.

It was a lie.

Of course white lies, omissions and outright fabrications are to be expected from the family that perfected—then monetized—the concept of “famous for being famous.”…

…the unusual lengths to which the Jenners have been willing to go—including inviting Forbes into their mansions and CPA’s offices, and even creating tax returns that were likely forged—reveals just how desperate some of the ultra-rich are to look even richer…

… Based on this new information—plus the impact of COVID-19 on beauty stocks and consumer spending—Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after tax from the sale, is not a billionaire.

Yes, Kylie Jenner is rich. But she is not a billionaire. In fact, she never was a billionaire.

Did these lies surprise you? They shouldn’t. The Kardashians and Jenners are the biggest liars in the celebrity world.

All those plastic lies.

All those financial lies.

Congratulations to Omgimbackagain for being first with the correct response!

Related: The Third Shoe

Reader Interactions

Comments

  1. Princesspc says

    This all make sense. They are forging lies to make more money off the public. Also, this makes me think about how the young lady who said the Kardashian family would not let her use her own expert to prove Tristan Thompson is the father of her child. Instead they used some fertility so called expert they knew who previously worked with Khole. The young lady basically said they are all in a cover up allegedly. I guess this is why TT started socializing with Khole again, to avoid paying support.

  2. GayleStorm says

    Sheesh! This family is even more disgusting than I realized. They are even lower than lying scum, sleaze status.
    I love the before and ‘after plastic’ photos, BG. Since I never watched their show or paid a lot of attention to them, I never realized how much Kylie’s appearance has changed. She looks like a completely different person. Bizarre.
    I am very glad that this sleazy family is being exposed for what they are.

  3. Lookinlady says

    There is NOTHING about them that isn’t fake. What they say, what they do, what they look like, what they write. It’s ALL fake. What a horrible way to live, knowing that when you lay your head on your pillow at night you KNOW that you’re living a lie.

  7. kellyp says

    Forbes needs to hire better reporters. This is the second time they’ve fallen for a fraud (remember them fawning over Theranos?)

  8. NativeAtlantaGirl says

    Never believed it to begin with. Everything about the family is a fraud. Let this be the final nail in the coffin for the relevance of this sham.

  9. Jelly Drop says

    Slow to the party. I hope it’s Kylie Jenner and her Kylie makeup line. I have tried it and it is not good. When she was promoted by Forbes as the first female self made billionaire i was shocked and could not get my head around the figures. Was it all a lie? This was not just the Kardashian horn blowing, but it seemed like the whole business world was toot-toot-tooting her horn. How can you fudge that? I saw a report on the sale that says the deal values Kylie Cosmetics at 1.2 billion dollars.

  10. menageafoie says

    * Jenner. No she is not self made. No she is not a billionaire. From Caitlyn’s boobs to Kim’s butt, the entire klan and hangers on are fake as much as an Impossible Burger is real beef. Nothing about these lowlifes is ‘real’, ‘brilliant’, or lasting. Hopefully, the next generation is waking up to this fraud-fam and will no longer pay them any mind, or money for their “brand”. Idiots

  14. Pandamonium says

    Kylie Jenner was reported to have earned 600 million from selling her make-up line. Riiiiiiiight.

  15. aaaSimon says

    Kylie Jenner!!

    Of couse not. I think a real self-made is someone who started from the bottom. I have respect for people who started with nothing and made something from themselves.

    She made millions into millions.. money atrracts money.. She had all the right connections and millions of instagram followers. Only thing she had to do is look pretty, inject new lips and use her mother connections to start a make up company. Bravo!

  18. chailatte says

    Oh, Kylie. Sweetie, you can’t even find the condom aisle in Walmart, whatever possessed you to think you could run a company??

  19. kmInBOS18 says

    Kylie Jenner

    If you are born into Kardashian Inc. you are not self made… you guaranteed the best financial backing for any business idea you have for the 2010’s and 2020’s.

  32. Steffy44 says

    Kylee Jenner sold her garbage makeup co. Self made. More like made from OJ and Kim on her back.

  35. trivialtime says

    Kylie Jenner. No.
    That’s weird, she’s a house of cards. Intellectually dishonest. Fruit doesn’t fall far from the tree.

  38. SouthJerseyGirl says

    Kylie Jenner – the youngest billionaire – sold her makeup line to Coty and kept 49% controlling interest.

    Self made as in lots of plastic surgery to change her looks. And, she is obviously very rich but maybe just a billionaire on paper. I’m not too worried about her.

  39. SleuthingForFun says

    Celebrity: Kylie Jenner

    [Optional] Do you consider her to be self-made? No, and she’s no billionaire by any stretch of the imagination that’s all Kris’ lies. This group of grifters is all smoke and mirrors and one day the mirrors will break and we’ll all see the truth we knew from jump.

  41. Wallcat says

    Celebrity: Kylie Jenner
    [Optional] Do you consider her to be self-made? No, self-made means starting from scratch with no help. She inherited wealth, connections and fame that got her more than halfway there.

  50. Jayzzzzzz says

    Celebrity: Kylie Jenner

    [Optional] Do you consider her to be self-made? Oh my, no. She got a huge headstart and lots of financial support because of her name. Self-made is when you literally start from scratch: no money from parents, etc.

  51. SilverLining says

    Kylie Jenner

    I’ll give the KJ clan one thing – mainly Kris – they have one talent…to make $ based on what is only perceived. At the same time there’s some morality issues that I would never wish to have myself…I mean, how much fame/wealth is sufficient & as a mother…not the best role models to emulate for those in society lacking one.

  54. Roryss says

    Kylie. Not self-made obviously. This whole family would be nowhere if Kim didn’t make the tape.

  55. luv2guess says

    kylie jenner, of course she’s incapable of running a company, lets remember she stole the image for her lips kits off the jump

  57. GoldenLynx7 says

    Kylie Jenner. This whole clan just lies lies lies about everything! Urgh.
    Optional: Kylie Jenner and self-made? Def not!!

  62. smlopez5250 says

    Kylie Jenner. She’s lying through her teeth. She went on this BS self made billionaire trip, shortly after she lost a court battle against Kylie Minogue, to trademark “Kylie”.

  64. DDivaB says

    AHAHAHAHA!!!
    Ivanka- you’re even better at running a company than your father- at leat this didn’t end in bankruptcy- unlike the US.

  68. deepsigh says

    That make up line girl. Something Jenner. I knew $600 million for 51% was a lie. Everyone is doing makeup these days. The only celebrity who has a shot at long term success is Rihanna with Fenty. She was smart enough to do foundation for every ethnicity.
    No. She isn’t self made. Kim started it all off with her sex tape. Then her parents leveraged that into the “empire” that they have now. Which won’t last forever.. So, Something with a K Jenner,get an education with the $ you have!

  69. Dis-custard says

    Kylie Jenner

    Self made ? Absolutely I mean we all know she created the very body she ohhhhh self made money ok ok I’m with ya now 😏 and no

  80. aaapants says

    Kylie Jenner

    She was literally and figuratively made by her mom. Self-made people are not born rich, staring in their mom’s realty shows when they are teenagers.

  84. rebeccadewinter says

    Kylie Jenner

    It’s easy to be self made when you have a massive platform and fame created by your mother and sisters.

  86. TruePatriot says

    Kylie?

    I’m seeing a lot of that ‘on sale’ at sites like Ulta whilst shopping for holiday gifts.

    I doubt she’s ‘self-made’ but she does at least try.

  87. ILUVCA4evr says

    Celebrity: KYLIE Jenner

    [Optional] Do you consider her to be self-made? Nope. All she has is because of Mama Kris hustling for her (and all of them). I think most of her worth is on paper anyways..not liquid assets at all.

  92. traherne says

    Kylie Jenner

    Optional: lol. No. She’d be flipping burgers somewhere if it wasn’t for her sister’s sex tape.

    God, she’s so bland, boring and average-looking she actually makes her sisters seem somewhat interesting.

    Remember the days when celebrities actually had to be special and unique?

  93. elphie says

    Kylie selling out to Coty… in the end it’s a business, if there’s no money to be made why in the world would they buy controlling interest

  98. JanesMustang says

    Kylie “the World’s Youngest Self-made Billionaire” Jenner. I lost all respect for Forbes after that statement. Smh…

  100. miss_tj says

    Celebrity: Kylie Jenner

    Self-made?: Hah! She is (as are the others) strictly a Kris Jenner/Ryan Seacrest production.

  103. sunshine702 says

    Kylie Jenner and her supposed 600 million dollar windfall from her lip line.

    No. A spokemodel at best.

  115. cbeaver123 says

    This is without a doubt Kylie Jenner, Kylie Cosmetics and the deal she made with Coty Inc.

    It is also pretty clear that the Kardashians lie about numbers all the time. How well something sells, record spin numbers, prices paid for properties, property values, You. Name. It.

  117. stickaforkinit says

    Kylie. Nobody believed she was a billionaire, much less a SELF MADE billionaire. I don’t know how that family sleeps at night.

  119. theotherwoman says

    Kylie of course.
    I wondered why she would sell something so profitable. My 17 yr old even said her brand isnt all that anymore. But I wish her well. She seems to be the one riding the coat tails the least and took initiative.

  120. mrspig59 says

    Kylie Jenner and her ‘sale’ to Coty which won’t actually happen until this time next year, yet her mother is trying to claim she has sold it for $600 million! No she isn’t ‘self made’, she already had family money to invest in her ‘business’. And she isn’t a billionaire either!

  124. Soma says

    Kylie

    Ahah self made?NO
    She’s a character, designed in her moms office. Get that money as quick as you can and bolt. That’s their strategy.

  125. holdup279 says

    The kardashian girl. You know the youngest one with the affinity for plastic surgery and wigs. Wait that’s all of them

  127. JoshuaTree says

    Kylie Jenner selling her controlling stake in her cosmetics company for a reported $600 million. This after Forbes called her the “youngest self made billionaire.”

  128. dahlia202049 says

    Kylie
    No her mother and Kim made all of them. Kris is a marketing genius and Kylie happens to be her spawn.

  129. NativeAtlantaGirl says

    Kylie of course. Let’s hope this is the beginning of the end of the KarJenners… their 15mins have extended far too long.

    There already were matching lip liners/glosses/lipsticks. She just packaged them together overpriced. Self-made hype. No one would know who she was if it wasn’t for her sister’s lack luster tape and their useless existence (and all the surgery and photoshopping)

  131. hazura jane says

    Definitely whichever of the Jenner/Kardashian things that sold the makeup line to Coty.

    I expect a good percentage of all their supposed millions/billions are imaginary.

    • ItsBouquet says

      I wonder why the mother promotes her daughters so much and her only son is all but forgotten.