Kylie Jenner is no stranger to the refined luxury of life.
She’s shown off her vast wealth on her Instagram and TikTok, but now Kris Jenner is stepping in and fearing her daughter’s drinking habits are spiraling out of control.
A source close to Kris Jenner says they are worried about Kylie Jenner and her expensive purchases.
According Page Six reportsthe source said: “Kylie spent so much that after she bought the jet, her mom had to step in and tell her to slow down.”
Earlier this week, Kylie posted a picture of her boyfriendHouston rapper Travis Scott, Instagramming the two of them standing in front of their private jet with the caption: “Do you want to take mine or yours?”
She posted on her TikTok showing off her collection of expensive cars, and it got already been rumored that Kylie spends around $300,000 to $400,000 a month on security and around $300,000 on designer clothes.
Kylie’s mother, who is also her manager, implores her daughter to be more financially savvy by using her wealth to make investments and save for the future.
“Kris urges her to be more responsible with her money, to make smart investments. But Kylie is 24, she has her own brand and she does what she wants,” the insider said.
Kylie Jenner’s wealth has dwindled in recent years.
In 2019, when Coty struck a deal with Kylie Cosmetics, they bought 51% of his brand and skin business for around $600 million. The purchase dramatically increased Kylie’s wealth, prompting her to be named a billionaire by Forbes the same year.
However, in May 2020, Forbes canceled its article naming Kylie Jenner the “The world’s youngest self-made billionairestating that Kylie and Kris Jenner lied about Kylie’s net worth and the income Kylie Cosmetics generated.
She was declared to be worth around $900 million, but that would soon drop too.
“Kylie’s business is significantly smaller and less profitable than the family has spent years leading the cosmetics industry and the media, including Forbes, to believe,” Forbes said in a statement.
It was reported that Kris and Kylie gave the magazine fake draft tax returns with inflated numbers to help Kylie “get some Forbes coverage.” Still, Kylie denied the accusations, responding on Twitter.
As of 2022, Forbes said Kylie holds a net worth of $600 million.
Recently, Kylie Cosmetics was valued at $1.2 billion with a 49% share, so she’s still making a good profit, but with her overspending, she risks losing the wealth faster than she can gain it. .
Fans claim that the quality of his products has gone down in recent years.
A beauty fan who tested Kylie’s lip kits for Insider compared the original and the renamed one and suggested the quality was sorely lacking in the updated formula.
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She said the lipstick dried immediately when she put it on, not allowing her to touch up.
“Things only got worse by the end of the day. I checked in after about eight hours – when its dryness became almost unbearable – and noticed the lipstick had faded in a lighter shade and had virtually disappeared some stains on my lips.” she told Insider.
Kylie rebranded and relaunched with better quality products, but many people still felt it was just not worth buying due to the price and the way it performed in public.
Coty’s stock fell 13% when Forbes published its impeachment article that Kylie Jenner’s wealth was not in the billions.
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Kurtis Condra covers entertainment, current affairs and human interest topics for YourTango. He is also a poet based in San Francisco, California. You can follow his poetic journey on Instagram.