Individuals had been sad when Forbes known as Jenner a “self-made billionaire” when her fortunes weren’t self-made and when she was not a billionaire in any respect. The journal quickly posted an replace, together with an announcement from Jenner’s representatives to make clear the difficulty.
“The accusations that the Jenners, and/or their accountants, falsified tax returns after which lied about their 2016 revenues for the final 4 years, are completely false,” a part of the letter learn.
In 2020, Forbes printed a brand new report explaining that Jenner was not a billionaire regardless of gaining $340 million after taxes from the sale of half of her cosmetics firm.
The journal defined, “A extra practical accounting of her private fortune places it at slightly below $900 million, regardless of the headlines surrounding the Coty deal that appeared to verify her billionaire standing. Greater than a 3rd of that’s the estimated $340 million in post-tax money she would have pocketed from promoting a majority of her firm.”
“The remaining is made up of revised earnings primarily based on her enterprise’ smaller dimension and a extra conservative estimate of its profitability, plus the worth of her remaining share of Kylie Cosmetics—which isn’t solely smaller than the Jenners led us to consider however can also be price much less now than it was when the deal was introduced in November, given the financial results of the coronavirus,” Forbes continued.