Kim Kardashian’s Billionaire Status Shut Down By Forbes, Says She’s Worth $900 Million

July 1, 2020 by Chelsea Adjalla in Reality TV with 0 Comments

Kim Kardashian

Kim Kardashian’s Billionaire Status Shut Down By Forbes, Says She’s Only Worth $900 Million

Just after Kim Kardashian West was declared a billionaire, Forbes has called into question whether her status is really valid.

Earlier this week, Kim Kardashian West sold a portion of her cosmetics company KKW Beauty to Coty Inc., which is the same company her younger sister Kylie Jenner sold a majority of her company, Kylie Cosmetics, to. Kim Kardashian West’s deal was said to bring KKW Beauty’s value to $1 billion. It’s set to close in early 2021.

Kim Kardashian, Kylie Jenner

Kim’s husband and rapper Kanye West even took to Twitter to congratulate his wife for signing the deal. He tweeted Monday (June 29th),

“I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire You’ve weathered the craziest storms and now God is shining on you and our family So blessed this is still life So I made you this still life We love you so much”

Now, Forbes is fact-checking Kim’s true net worth. The magazine has alleged that the reality star and beauty mogul is not yet a billionaire but is very close. She is allegedly estimated to be worth $900 million after the deal closes.

Forbes’ calculations come after it called out Kylie Jenner and her mom Kris Jenner for allegedly lying about Kylie Cosmetics revenue, ultimately canceling out Kylie Jenner’s billionaire status as well.

The mother/daughter duo opened their books to Forbes‘ financial analysts which allegedly showed much larger numbers than what they really produced in profits. Forbes claims read,

“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.”

Kylie Jenner

Kylie’s lawyer released a statement on behalf of the cosmetics mogul and said,

“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.”

He continued,

“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.”

Forbes has since responded to Michael Kump and doubled down on its initial story:

“Today’s extensively-reported investigation was triggered by newly-filed documents that revealed glaring discrepancies between information privately supplied to journalists and information publicly supplied to shareholders. Our reporters spotted the inaccuracies and spent months uncovering the facts. We encourage the attorney to re-read the article.”

Kylie Jenner also responded to the claims on Twitter.