Kylie Jenner had been named as the highest-paid celebrity of the year 2020 by the Forbes magazine. She is the youngest among the Kardashians and also owned a cosmetic company named Kylie cosmetics. She alone has earned more than the rest of the four combined and has earned 540 million dollars pre-tax.
Reality T.V Show Celebrity and Owner of Cosmetics Company Kylie Jenner Named Highest-Paid Celebrity Of 2020
By
Haider Ali in
Amazing
On 18th December 2020
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Kylie Jenner is named as the highest-paid celebrity of 2020
Celebrity 100 is an annual list that has been compiled and released since 1999 by Forbes magazine. The aim is to list the 100 highest-paid celebrities in the world.
The first person who was named as the highest-paid celebrity was a sportsman named Michael Jordan in the year 1999.
Kanye, who won $170m, Roger Federer with $106.3m, Cristiano Ronaldo with $105m, and Lionel Messi with $104m were the remaining fours after Kylie Jenner who got the name in the list of highest earned celebrity of 2020.
She had pocketed around 540 million dollars pretax
While when some people are losing jobs amid the pandemic there are also people out there who are becoming richer day by day and their business had become far better than before the pandemic like take the example of Kylie Jenner who had topped on the highest earned celebrity in 2020.
She's been starring in E! Keeping Up with the Kardashians reality television series since 2007 and is the creator and founder of Kylie Cosmetics, a cosmetic company.
She had pocketed around 540 million dollars pre-tax, earning more than the rest five combined.
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A large proportion of Kylie's income came from the sale of a controlling stake in her Kylie Cosmetics brand
A large proportion of Kylie's income came from the sale of a controlling stake in her Kylie Cosmetics brand, an agreement reached with Coty Inc.
Kylie revealed last year that she was planning to sell 51% shares in her company, Kylie Cosmetics, to Coty, a global beauty corporation, for $600 million.
Kylie was introduced to Forbes' list of billionaires earlier this year before being removed after allegations that her income had been exaggerated.
As per their family's accountant in the year 2016, the company earned more than 300 million dollars
The family's accountant presented Forbes with tax returns indicating that in 2016 the company made more than $300m in sales, with publicists stating $330m in sales the preceding year.
The company news outlet released an essay that tried to justify why Jenner is no more a billionaire," claiming that beneath her assets there was a "web of lies."
The developer and reality TV personality took to social media to strike back after the article was released, claiming in a series of posts that Forbes' report featured 'inaccurate statements and unproven assumptions'.
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Kylie Jenner claims that the statements made by Forbes are inaccurate
She wrote: "What am I even waking up to. I thought this was a reputable site... All I see are many inaccurate statements and unproven assumptions lol. I've never asked for any title or tried to lie my way there EVER. Period."
Quoting the article, she continued: "'Even creating tax returns that were likely forged' that's your proof? So you just THOUGHT they were forged? Like actually what am I reading."
Claiming that with a "beautiful daughter and a successful company" she felt blessed beyond my years," Jenner added: "I'm doing perfectly well. Right now I can name a list of 100 things more important than fixating on how much money I have."
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Coty revealed that Jenner's firm is 'significantly smaller and less profitable
Forbes, however, said details shared by publicly-traded Coty revealed that Jenner's firm is 'significantly smaller and less profitable than the family has spent years leading to believe in the beauty industry and media outlets, including Forbes,' with estimates showing that in 2018 it only made $125 million in revenue.
Forbes posed: "If Kylie Cosmetics did $125 million in sales in 2018, how could it have done $307 million in 2016 (as the company's supposed tax returns state) or $330 million in 2017?"
In its report, the outlet stated that Jenner is not a billionaire," noting that a more accurate estimate of her net worth puts her at just under $900 million."