Forbes Removed Kylie Jenner From Its Billionaire List
Forbes stripped Kylie Jenner of her billionaire status in 2023 after a detailed review of her cash, investments, and private company valuations. The magazine cited inflated numbers around Kylie Cosmetics and a lack of publicly verifiable assets. The article on Forbes explains how the ranking changed after the audit. Read Forbes breakdown
Kylie Jenner had been labeled the world's youngest self-made billionaire by Forbes in 2019 based on an estimated fortune tied to her cosmetics brand. By 2023, Forbes updated the valuation after analyzing revenue, margins, and debt, concluding the net worth fell below the billion-dollar threshold. The revised estimate was widely reported as part of a broader recalculation of private-company wealth.
Kylie Cosmetics Valuation and Sales Dropped
Kylie Cosmetics was valued at roughly $900 million in 2020, but later reports showed softer revenue growth and increased competition in the beauty market. The brand's valuation fell when private-company data became less favorable, which directly affected the net-worth calculation used by Forbes. Forbes valuation details
Private-company valuations depend on revenue multiples, profit margins, and market conditions. When Kylie Cosmetics faced higher costs and a shift in consumer spending, the implied enterprise value shrank. Forbes applied a more conservative methodology, which removed the billion-dollar label.
Major Snap Stake Sale Reduced Liquid Assets
Kylie Jenner sold a large portion of her Snap Inc. stake in 2022, converting billions in paper wealth into cash and reducing her reported holdings. The sale was disclosed in SEC filings and reported by financial outlets as a key reason her liquid net worth dropped below the billionaire mark. SEC filings
Snap stock declined sharply after the sale, which meant the remaining stake was worth less than the original position. Combined with the reduced valuation of Kylie Cosmetics, the loss of Snap wealth pushed her below Forbes' billion-dollar cutoff. The updated Forbes list reflected these changes in both private and public holdings.