Is Kylie Jenner Net Worth Enough?
Whether you’re a fan of the Kardashians or not, you have to admit that their net worth has skyrocketed over the years. As of this writing, the family’s fortune has reached $42 million, with a total asset value of around $120 million. This makes them one of the wealthiest family members in the world. But is it enough?
Despite being the youngest of the four Jenner sisters, Kylie Jenner has been named the wealthiest member of the Kardashian-Jenner family. The reality star’s net worth is around $900 million. According to Forbes, she surpassed her older siblings’ money and fame in just a year.
Kylie started making money as a young teenager, appearing in the hit show Keeping Up with the Kardashians. She also received $250,000 for modeling gigs. In 2010, she was featured in People magazine’s “beautiful people” section.
After a successful run on the show, Kris Jenner gave her daughters a 10% cut of the family’s earnings. The two sisters made over $13 million for each of the five seasons. They also starred in spinoffs, including “Kourtney and Kim Take the Hamptons” and “Kourtney and Kim Take New York.”
In 2015, Kris Jenner sold half of her cosmetics company to Coty Inc., the parent company of CoverGirl and other cosmetics brands. After taxes, she was able to receive $340 million. In addition to this, Kylie Jenner launched her cosmetic line. The eponymous line grew from lip kits to eye and face products.
Earlier this month, the cosmetics empire of Kylie Jenner hit a new billion-dollar mark. She earned $600 million by selling half her company to Coty. But there’s some confusion as to how the deal was structured. Reports show that the agreement was in stock, and the company’s remaining share is worth less.
The company launched in 2015 with a collection of signature lip kits sold for $29. Kylie’s first set of 15,000 lip kits sold out within 24 hours. In 2016, Kylie’s makeup business expanded to skincare and eye products.
The deal also revealed that Jenner inflated the size of her business. She had initially claimed that the revenue from her Kylie Lip Kits had been around $400 million in its first 18 months. However, an investigation by Forbes found that the business generated $307 million in revenues in 2016.
In November, the makeup brand partnered with Ulta and TopShop to sell cosmetics. In the following year, Kylie’s online sales dropped by nearly half, despite her social media posts being a huge hit.
During her childhood, Kylie Jenner was raised in a family of wealthy car collectors, so it’s no surprise that she owns a vast collection of designer vehicles. Her cars include two Mercedes-Benz Maybach SUVs, a black Rolls Royce, three Ferraris, a Lamborghini Urus, and a Lamborghini Aventador SV Roadster. She’s also been known to switch up the color of her cars to match her outfits.
In the summer of 2018, Kylie Jenner added a bright orange Mercedes AMG G63 to her collection. The car cost her about $280,000. It features a 4-liter V8 engine, a top speed of 205 mph, and a peak torque of 760 Nm.
On her 18th birthday, Tyga gave her a Ferrari 458 Spider. It was initially matte gray, but she later changed the paint to light blue with stock rims. In her Snapchat video, Kylie showed her brand-new car being delivered to her house on a truck.
She also recently acquired a red Lamborghini Urus. Its 4.0-liter twin-turbo V8 engine produces 641 horsepower. It can accelerate from 0-60 mph in 2.3 seconds and reach a top speed of 314 kmph.
Earlier this year, Forbes labeled Kylie Jenner the “youngest self-made billionaire ever,” but now it’s being questioned whether she’s genuinely a billionaire. The magazine reported that Jenner may have filed false tax documents to boost her income, but the authors cannot prove that she did.
For example, the Forbes report said that Jenner’s publicists claimed that her brand had sold $330 million in sales in 2017. But Forbes argued that the numbers were inflated and that Jenner’s remaining share of the company is smaller than Jenner’s publicists have said.
In addition, the article also said that Jenner’s family may have fabricated the tax returns to make themselves appear more financially wealthy. That could mean that the Kardashians could be on the IRS’s watch list.
A Forbes reporter questioned Jenner’s team about financial discrepancies, asking her to show them her tax returns. While she refused to give them, the reporter did find Jenner’s signature on the documents.