Reports have surfaced just weeks after the Forbes billionaire scandal that Kylie Jenner has blown “millions” on private jets and mansions very recently.
Keep scrolling to see the shocking figures…
Kylie Jenner found her fame through her family…
They’re so much more than just a group of sisters – they’re a business empire. Each of them has multiple successful ventures and they’re among the most recognizable faces at the moment.
The family came to fame on a very popular reality show.
Keeping Up with the Kardashians has been running since 2007, making it almost twelve years old. It’s one of the most viewed reality TV phenomena of all time.
Kylie was nothing but a kid when the show started…
But now, she’s grown up into a super successful girl boss and has well and truly stepped out of the shadow of her elder sisters.
Not bad for the tender age of twenty-two.
Kylie has grown from being a fan favorite on the show to a social media queen and an entrepreneurial businesswoman.
She’s the undisputed queen of Instagram.
She has over 128 million followers on the app, and up until a rather strange bit of egg-related drama, was the proud record holder for the most-liked pic of all time.
On top of this, Kylie is also a mom.
She had a baby girl with her then-boyfriend, rapper Travis Scott, in February of 2018. In one of the most impressive publicity stunts of all time, she managed to keep her pregnancy secret until the birth of Stormi Webster.
Alongside raising her daughter, Kylie has continued to build her already very successful career.
Kylie first dipped her toe in the world with some lip products in 2015. Since then, the business has boomed.
Kylie Cosmetics is one of the most successful brands on the planet.
Kylie has cleverly expanded her product range from just lips to makeup for the whole face. It seems every product she launches is destined to be a smash hit.
Last year, Forbes reported on her success.
In a piece about young women billionaires, Forbes claimed Kylie was set to become the most successful young businessperson in the world, valuing her cosmetics empire at a whopping $900 million.
The internet had a rather strange reaction, however…
Some fans set up a donation page for Kylie, trying to speed up her ascent into billionaire territory and knock Mark Zuckerberg off his throne.
Like this woman needs any more money?
But before we knew it…
Forbes announced last year in the annual list of billionaires that Kylie has made the cut.
She’s the youngest person ever to do so.
Kylie was just twenty-one-years-old when this was announced.
Before she made the cut, the youngest ever addition to the billionaire list was Mark Zuckerberg.
The Facebook founder hit the huge milestone when he was twenty-three.
Of course, many weren’t too thrilled with the news.
A lot of people see the sheer existence of billionaires as a failure of the system of capitalism – especially when many live in a state of constant worry about money.
Others had a different issue.
Many quibbled with the “self-made” status of Kylie’s fortune. It’s certainly true that if she wasn’t a member of the world’s most famous family, it’s unlikely she’d have made the Forbes list.
While it’s true she’s been clever with her line, some believe she’d be nothing without her status.
Kylie was born into money, meaning investing in her business was never a source of stress. She also managed to turn her reality TV roots into a homemade marketing campaign for her products.
However, some pointed out the definition of self made.
All it means is that she created the company, and didn’t inherit it after it was already turning a profit. In that case, the description perfectly fits Kylie Cosmetics – the clue’s in the name!
But things have taken a dramatic twist in recent months.
After the multi-millionaire sold 51% of her business to beauty giant Coty in a deal valued at $1.2 billion, Forbes revealed some very important information.
In the fine print of the deal, there were some concerning facts…
Forbes revealed this:
“One of the greatest celebrity cashouts of all time, the transaction seemed to confirm what Kylie had been saying all along and what Forbes had declared in March 2019: that Kylie Jenner was, indeed, a billionaire—at least before [the pandemic].”
“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.”
And so her status has now dropped to $900 million, which, for any woman in her twenties is still a pretty great achievement.
Forbes claimed that it was likely that Kylie’s business was never as big as she made it out to be…
“You have to remember they are in the entertainment business. Everything in entertainment has to be exaggerated to get attention.”
Forbes isn’t impressed with the young millionaire, at all.
But when you have a net worth of $900 million, who would even care?
Kylie tweeted this in her own defense…
But her most recent outgoings kind of prove otherwise.
It takes just once glance at Kylie’s Instagram page to clearly see she likes her money…
And her spending habits are clearly very expensive.
But new reports have suggested that Kylie may be spending her millions a little too quickly.
A new report from Page Six has revealed some of the young woman’s spending habits and trust us when we say this, they will make your eyes water.
A source reached out to the publication…
To start, they said:
“She spent an estimated $50 million to $70 million on a Global Express Jet that she had fitted out in the theme of daughter Stormi’s birthday this past February.”
They went on to suggest that Kylie’s spending is a common cause of concern amongst her sisters…
“Kylie’s sisters are concerned about her spending,” they added.
“Yes, she’s got a lot of money – but she doesn’t seem to realize how easy it is to blow through all of it.”
“She’s likely spent over $130 million in the past year.”
It was also reported that Kylie spent a staggering $36.5 million on an estate in Holmby Hills, CA, along with a $15 million empty plot of land near her home.
She also has a $3.25 million home in Palm Springs, near her mom Kris Jenner’s house.
Kylie’s excessive and unnecessary spending hasn’t at all put the family in a good light…
And fans aren’t really that surprised to hear these shocking figures.
“She is twenty-two-years old and part of a family known for distorting reality. She should be expected to be irresponsible with that much money,” one Facebook user wrote.
Kylie has been branded as “greedy”…
This needed to happen… finally, the consequences of the reality of GREED and narcissism with a globe wide audience,” another user wrote.
Let’s hope that her sisters will knock some sense into young Kylie soon…
Because spending that much money at such a fast pace will never end well.