Actually Rachy if you read the article, you’ll find that she didn’t own the majority of her company, surprise her mother did.
https://www.forbes.com/sites/c.....-why-shes-
For years, the Jenners insisted that all of those profits went directly to Kylie because she owned the business outright. But Coty’s purchase agreement specifically lists a “KMJ 2018 Irrevocable Trust,” controlled by Kristen M. Jenner, as owning a profit interest in Kylie Cosmetics.
And it looks like Coty way over paid given what the actually sales numbers are.
Then there were Kylie’s financials. Revenues over a 12-month period preceding the deal: $177 million, according to the Coty presentation—far lower than the published estimates at the time. More problematic, Coty said that sales were up 40% from 2018, meaning the business only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe. Kylie’s skin care line, which launched in May 2019, did $100 million in revenues in its first month and a half, Kylie’s reps told us. The filings show the line was actually “on track” to finish the year with just $25 million in sales
and i care, because, A) I’m interested in the business of business and fashion and cosmetics are intertwined and B) because the level of deception—creating fake tax returns, is just so interesting and gives so much insight into the family and the way the magazine put its list together and finally C) because its amazing to me how easily the magazine was taken in.
