Shortly after Forbes revealed that Kylie Jenner wasn’t infact a billionaire, it has emerged that she is no longer the highest-earning celebrity on Instagram, either.
She isn’t having the best year, is she?
Keep scrolling for the full details, and to find out which unexpected celebrity has knocked her from her number one spot…
The Kardashians are 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.
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.
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.
Kylie has grown from being a fan favorite on the show to a social media queen and an entrepreneurial businesswoman.
She has 181 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.
Kylie first dipped her toe in the beauty world with some lip products in 2015. Since then, the business has boomed.
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.
In a piece about young women billionaires, Forbes claimed that Kylie was set to become the most successful young businessperson in the world, valuing her cosmetics empire at a whopping $900 million.
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?
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.
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.
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.
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.
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!
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.
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.
“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?
But her most recent outgoings kind of prove otherwise.
And her spending habits are clearly very expensive.
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.
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.”
“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.”
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.
And now, on top of all of this, Kylie has experienced yet another financial blow.
It has been revealed today that the reality star has been knocked from her number 1 spot as Instagram’s highest-earning celebrity.
With a staggering 183 million followers on the app.
But now, someone has taken her place, and it was totally unexpected.
The wrestler-turned-actor boasts an impressive 188 million-strong following and, according to the Instagram scheduling tool, Hopper HQ, his earnings for posts on the site have jumped by fifteen-percent since last year.
Kylie, on the other hand, only gets $986,000, which is down twenty-two percent from last year.
Still, it isn’t a bad sum of money for an Instagram post, is it?
I’m sure momager Kris Jenner will have a trick up her sleeve for your dwindling bank account…
For more on the Kardashians, keep scrolling to read about Kim’s controversy surrounding black face…