The following May, the same publication shared a scathing report that accused Kylie and her momager, Kris Jenner, of lying about Kylie’s net worth and earnings in order to be given the coveted title.
They revoked her billionaire status as they estimated that Kylie was actually worth just under $900 million. Forbes said at the time: “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.”
Kris and Kylie denied the magazine’s claims that they provided forged tax returns with inflated numbers as well as the accusation that it was all a ploy to get Kylie a Forbes cover.
Kylie brushed off the scandal at the time by tweeting: “What am i even waking up to. i thought this was a reputable site …. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period.”
As of May 2022, Forbes is still listing Kylie’s net worth at $900 million, but even if she is a few bucks short of an actual billion, it’s fair to say that Kylie is still incredibly wealthy.
The star was just 9 years old when her family found global superstardom with their E! reality show, Keeping Up With the Kardashians, and she was sure to use her status in the years that followed.
With money from the series in her back pocket and a social media platform consisting of millions of dedicated fans across the world, Kylie launched her Kylie Cosmetics empire in 2015, at the age of 18.
Discussing her “self-made” success, Kylie previously admitted to the New York Times: “If they’re just talking finances, technically, yes, I don’t have any inherited money. But I have had a lot of help and a huge platform.”
Kylie Cosmetics and her subsequent skincare line, Kylie Skin, were both so successful that in November 2019 she sold 51% of it to Coty for $600 million.
And having grown up with extreme wealth and endless success, it is unsurprising that Kylie’s business mogul persona has become a key part of her online presence.
In fact, Kylie is known for regularly posting about her high-flying lifestyle with aspirational uploads that certainly seem impressive to us regular folk.
Her $12 million Hidden Hills mansion, fleet of expensive cars — including a $400,000 Lamborghini Aventador, $320,000 white Rolls-Royce Ghost, and a $460,000 Rolls-Royce Phantom — luxury vacations, and designer outfits are consistently flaunted on Instagram.
But last week, Kylie may have taken the flexing a bit too far when a photo showing off her and her boyfriend Travis Scott’s private jets went viral.
In the black-and-white post, she and Travis were pictured embracing in the middle of a runway with a private jet on either side of them.
“You wanna take mine or yours?” she captioned the post, but this display of wealth appeared to cross a line.
Some used their outrage to delve deeper into how Kylie uses her customized $72.8 million Global Express Jet, which she bought before the COVID-19 pandemic in 2020 and costs around $5 million a year to maintain.
And it was soon discovered that the plane, known as Kylie Air, has been used for flights as short as three minutes, which would be just a 40-minute car trip. Kylie’s jet also takes regular flights that are less than 15 minutes each.
Critics were quick to point out the devastating impact that private planes have on the environment amid growing concerns about climate change, with Kylie also being dragged for being “out of touch” as many people struggle with the mounting cost-of-living crisis.
And it’s not just people on social media who think that Kylie’s spending is becoming a little too extravagant, with her own mother reportedly telling her to “slow down.“
According to Page Six, a source told the Post: “Kylie has been spending so much that, after she bought the jet, her mom had to step in and tell her to slow down.”
Kris is apparently concerned with the way that her youngest daughter blows through hundreds of millions of dollars on her lavish lifestyle.
“Kris is urging her to be more responsible with her money, make wise investments,” the insider added. “But Kylie is 24, she has her own brand, and she does what she wants.”
As well as her jet and cars, Kylie is reported to own four more California homes in addition to her Hidden Hills mansion.
In April 2020, she bought a vacant plot in the same area for $15 million and is said to have hired architect Richard Landry to build her a new home on the land.
Sources have said that Kylie wants an 18,000-square-foot mansion with a 12-car garage, swimming pool, guest house, and gym.
Kylie also plans to build a house at the exclusive Madison Club in La Quinta, where she bought land in February 2019 for $3.25 million.
In addition, Kylie bought a seven-bedroom Bel Air mansion for $36.5 million in 2020, and a $13.45 million Beverly Hills home in October 2018.
But following the private jet backlash, Kylie was accused of trying to look “relatable” online as she filmed a shopping trip to Target with her daughter and two nieces.
The trip was branded “damage control” as people discussed the suspiciously timed TikTok, and many pointed out that Kylie ended up buying the kids “$300 worth of toys” in her apparent bid to “cosplay as middle class.”
Others flagged that the Target looked empty, with it being theorized that Kylie had closed down the store to shop in private.
Back in May, both Kylie and Kris faced backlash when they were filmed getting overexcited to shop in a grocery store and go through a car wash in The Kardashians, with viewers using the scenes as proof that the “rich” and “privileged” mother-daughter duo are “out of touch.”