Kylie Jenner ‘blew millions of dollars on private jets and mansions’ ahead of having billionaire status stripped
Kylie Jenner blew millions of dollars on private jets and mansions before having her billionaire status revoked, according to reports.
The 22 year old was named the world's youngest ever self made billionaire last year, but Forbes have now adjusted her worth to just under $900million, claiming she "likely faked tax returns".
Although the Keeping Up With The Kardashians star still has a huge amount of money, a new report suggests she may be spending her fortune fast.
According to a source, the youngest daughter of Kris and Caitlyn Jenner spent between $50million and $70million on a Global Express jet that was decorated "in the theme of daughter Stormi's birthday" in February.
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Page Six also reports that Kylie bought a $36.5million estate in Holmby Hills, California in April, as well as a $15million plot of land next to her current home in Hidden Hills, and has hired architect Richard Landry to build a new house.
She is also believed to have spent $3.25million for land at the exclusive Madison Club in Palm Springs, next to her mum Kris' desert patch, again hiring an architect to build her a house.
But Kylie has also been generous with her funds, donating millions of dollars to causes such as Australian wildfire relief, women's charities and coronavirus relief.
A source told the publication: "Kylie's sisters are concerned about her spending. Yes, she's got a lot of money — but she doesn't seem to realize how each it is to blow through all of it [sic]
"She's likely spent over $130million in the past year," the insider continued.
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Last week, Forbes released a scathing report on Kylie, claiming she has "forged" her status a billionaire.
In the report on her business Kylie Cosmetics — which 51% of was sold to Coty last year — they said: "Filings released by publicly traded Coty over the past six months lay bare one of the family’s best-kept secrets: 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."
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An equity analyst told them: "It's fair to say that everything the Kardashian-Jenner family does is oversized. To stay on-brand, it needs to be bigger than it is."
Forbes also claimed that the Jenners have spent time "creating tax returns that were likely forged" in a bid to "look even richer."
They claim that the Jenner family had told them Kylie Cosmetics had made $300million in 2019 when, in fact, they had only taken profits of $125million.
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