Kylie Jenner’s New CEO Left For ‘Personal Reasons’ Just Before Forbes Removed Her Billionaire Status
In 2018, Travis Scott rapped, “Baby mama covered Forbes, got these other b*tches shook” in his hit “Sicko Mode” about Kylie Jenner, and it ended up being that way for two years in a row. The 22-year-old makeup mogul was crowned the youngest self-made billionaire in 2018 and 2019.
Kylie Jenner also sold 51% of her shares to cosmetics giant, COTY, Inc putting $600 million in Kylie Jenner’s pocket.
Kylie addressed the news of her billionaire status, giving thanks to the people around her,
“I can’t say I’ve done it by myself. If they’re just talking finances, technically, yes, I don’t have any inherited money. But I have had a lot of help and a huge platform.”
But things went in a different direction after Forbes accused Kylie of lying about how much Kylie Cosmetics was really bringing in.
Kylie’s lawyer, Michael Kump released a statement demanding a retraction of the accusations:
“We have reviewed Forbes’ article accusing Kylie of engaging in deceit and a ‘web of lies’ to inflate her net worth. The article is filled with outright lies.”
“Forbes’ accusation that Kylie and her accountants ‘forged tax returns’ is unequivocally false and we are demanding that Forbes immediately and publicly retract that and other statements.”
In a recent explosive report from Forbes Magazine, the magazine alleged that, Kylie lied about her finances, by allegedly providing fake tax returns to inflate her wealth to land the cover, and that her mother and manager, Kris Jenner, is also being accused of pressuring Forbes to give her youngest child her 2018 cover.
Shortly after the news broke Kylie took to Twitter slamming the website, saying the information was only “inaccurate statements and unproven assumptions lol”
It has now been revealed that Kylie Jenner’s incoming CEO of her company Kylie Cosmetics, Christoph Honnefelder, left in April after roughly four months with the company, before officially assuming his new position. His exit happened a month before the Forbes story of Kylie Jenner no longer being a billionaire was released on the internet in May.
The former incoming CEO, who came on board in January, is said to be leaving for ‘personal reasons.’
Simona Cattaneo, president luxury brands, will now oversee all things dealing with Kylie Jenner’s beauty brand. A statement reads,
‘As part of this effort, we are building a strong foundation to support our strategic partnership with Kylie Jenner. As noted on today’s investor call, Simona Cattaneo, president luxury brands, is overseeing the expansion of the Kylie business for Coty.’
‘She assumes these responsibilities from Christoph Honnefelder, who announced to the senior team internally a number of weeks ago that he would not be assuming the role of CEO of Kylie Beauty for personal reasons.’
‘Under Simona’s leadership we are excited by the opportunities for the Kylie Beauty business, as indicated by the very successful recent launch of Kylie Skin in Europe.’
What are your thoughts on Kylie Jenner’s new CEO leaving? Let us know in the comments!