The 1% have money problems, too

[samhexum]

Kris Jenner is reportedly concerned about daughter Kylie’s extravagant spending, sources 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,” said one insider.

That comes on the heels of Kylie being blasted this week as “classless” and a “climate criminal” after bragging about her $72 million private jet on social media.

On Friday, the 24-year-old beauty mogul posted to Instagram a photo of her own jet parked next to boyfriend Travis Scott’s plane, captioning it: “You wanna take mine or yours?”

Then the self-described eco-crusader — who has given money to causes such as supporting victims of hurricanes and wildfires — was slammed for taking a 17-minute flight on her private jet for a 26-mile journey that would have taken 39 minutes by car. She even drove 30 minutes in the opposite direction to the Van Nuys airport just to board her plane.

Following the backlash, on Tuesday Kylie posted a TikTok video of herself shopping at a Target with her 4-year-old daughter, Stormi, and nieces Chicago and True — which led to detractors on Reddit calling her “out of touch” and accusing her of “trying to appeal to us peasants.”

And as she continues to blow hundreds of millions on her lavish lifestyle, sources say her mom — who is also her business manager — is worried.

“Kris is urging her to be more responsible with her money, make wise investments. But Kylie is 24, she has her own brand, and she does what she wants,” said the insider.

Another source close to the Kardashians denied that Kris had stepped in and added: “Kylie has actually always been very good [with her money] — young but adult at heart. “

Kylie reportedly owns as many as five homes in California.

Her primary residence, in Hidden Hills — not far from where her mom and sisters Kim and Khloé Kardashian also live — boasts eight bedrooms and 11 bathrooms and measures more than 13,000 square feet. She bought it in September 2016 for $12 million.

In April 2020 she purchased a nearby vacant plot in Hidden Hills for $15 million, reportedly hiring Tom Brady’s architect Richard Landry to build a new home on the land. According to sources, Kylie wants to build an 18,000-square-foot mansion with a 12-car garage (she owns a $3 million Bugatti Chiron and a $300,000 pink Rolls Royce, among other hot wheels), a huge pool, guest house and gym.

Not content with those properties, in April 2020 she nabbed a 15,350-square-foot mega-mansion in Bel Air, boasting seven bedrooms, for a cool $36.5 million.

Let’s not forget the seven-bedroom Beverly Hills home she bought with Scott in October 2018 for $13.45 million.

And just for good measure, in February 2019 she purchased land near her mom’s desert home, at the exclusive private-members only Madison Club in La Quinta, for $3.25 million. She also plans to build a house there.

That’s some $80 million worth of real estate. Her decorator must be exhausted.

Her behemoth Global Express Jet — a plane larger than a Learjet — cost as much as $72 million. It takes around $5 million a year to maintain the customized craft, bought in 2020 before the pandemic. While it can fly longer distances, the jet can’t land at most private airfields because it needs a longer runway.

After she bought the jet, “Kris Jenner felt she had to step in to tell Kylie to slow down. She is worried her youngest is spending too much money, too fast. But Kylie is her own woman and does what she wants,” the insider said.

Kris has said Kylie spends an estimated $300,000 a month on clothes, and not just for herself. Her daughter Stormi has been seen in designer duds created by Dolce & Gabbana, Fendi, Burberry and Gucci. The tot even wore a $12,000 Hermes backpack on her first day of school. And now, Kylie and Scott also have a five-month-old son, whose name has not been revealed.

She also is said to shell out $300,000 to $400,000 a month on security, and that fleet of cars — which also includes a $400,000 Lamborghini Aventador. a $320,000 white Rolls Royce Ghost and a $460,000 Rolls-Royce Phantom.

Kylie is a billionaire, and she wants the whole world to know it.

In November 2019 she struck a deal with Coty, which bought 51 per cent of her Kylie Cosmetics and Kylie Skin business for $600 million.

Forbes magazine dubbed her the world’s youngest self-made billionaire in March 2019. But in May 2020 the money mag yanked her coveted billionaire status. It published a scathing report accusing Kylie and Kris Jenner of lying about Kylie’s net worth and earnings from Kylie Cosmetics.

Estimating that Kylie is worth just under $900 million, Forbes said, ““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,” the mag said.

Kylie and Kris were accused of giving the mag forged draft tax returns with inflated numbers to help “get a Forbes cover for Kylie” after her sister, Kim Kardashian, landed the cover in July 2016, the report says. Kris and Kylie denied the accusation.

Seeming not to take the report seriously, Kylie tweeted, “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.”

And then she probably went shopping.

https://pagesix.com/2022/07/20/kris-jenner-worried-over-kylies-spending-amid-jet-brag-sources/

 

I'm considering starting a gofundme page for the poor dear.

Edited July 21, 2022 by samhexum
just for the hell of it

[+ augustus]

Behavior like this is vulgar.  On the other hand, let the dearie spend and spend.  It circulates through the economy and is continually income taxed, so it helps the public treasury.   And to her credit, she made the money on her own I believe. 

[samhexum]

2 minutes ago, augustus said:

And to her credit, she made the money on her own I believe. 

Well, technically, the entire Karda$hian empire was built on Kim's (lying on her) back.  (on her knees? doggie style? suspended from a trapeze? I wouldn't know... I've never seen the tape.)

[BSR]

31 minutes ago, augustus said:

Behavior like this is vulgar.  On the other hand, let the dearie spend and spend.  It circulates through the economy and is continually income taxed, so it helps the public treasury.   And to her credit, she made the money on her own I believe. 

I wouldn't say vulgar.  It sounds like Kylie K is a a bit overexcited by her new toys to the point that she's willing to drive a half hour to take her private jet to a spot she could have driven to directly in 40 minutes.  As the novelty wears off, I'm guessing (hoping?) common sense will rein in such questionable decisions.

With a net worth of $900 million, it sounds impossible that Kylie K could burn through all her money.  But you never know.  After all, it sounds impossible that Mike Tyson, who had earned $300 million, could end up bankrupt, but he managed to do exactly that, even without the staggering expense of a private jet.  Sure, Kyle's cosmetics and skincare businesses are flourishing now, but empires don't last forever.  Who knows where those businesses will be in 10 years, if they're still around at all.  And given that Kylie burns through cash faster than her shiny new jet burns fuel, I have to wonder about her financial future.

[samhexum]

16 minutes ago, BSR said:

With a net worth of $900 million, it sounds impossible that Kylie K could burn through all her money.  But you never know.  After all, it sounds impossible that Mike Tyson, who had earned $300 million, could end up bankrupt, but he managed to do exactly that, even without the staggering expense of a private jet.

Not to mention that Tyson's $300 mil was probably worth more than Kylie's 900, given inflation.

[+ augustus]

1 hour ago, samhexum said:

Her behemoth Global Express Jet — a plane larger than a Learjet — cost as much as $72 million. It takes around $5 million a year to maintain the customized craft, bought in 2020 before the pandemic. While it can fly longer distances, the jet can’t land at most private airfields because it needs a longer runway.

Yean, I can see her burning through all her money LOL.

[Guest]

4 hours ago, augustus said:

Behavior like this is vulgar.  On the other hand, let the dearie spend and spend.  It circulates through the economy and is continually income taxed, so it helps the public treasury.   And to her credit, she made the money on her own I believe. 

Technically, a lot of tax breaks come with the plane for non recreational use - and even more so if she puts it out for charter

[MscleLovr]

Thanks to @samhexum for this thread. It’s the first time I’ve read anything about the Kardashians. They seem to personify the worst traits of the ‘nouveau riche’.

There is only one aspect I don’t understand. Both @augustus and @BSR seem sensible. So how can they disagree about this being vulgar?

[mike carey]

6 hours ago, BSR said:

As the novelty wears off, I'm guessing (hoping?) common sense will rein in such questionable decisions.

What?? Praise the lord! Someone uses 'rein' when they mean 'restrain'. Everyone else seems to use 'reign'.

11 minutes ago, MscleLovr said:

So how can they disagree about this being vulgar?

Not everyone (and there may be transatlantic anglophone differences in perspective) has the same view on the vulgarity or otherwise of the sensibilities of the nouveaux riches.

[samhexum]

19 minutes ago, mike carey said:

Not everyone (and there may be transatlantic anglophone differences in perspective) has the same view on the vulgarity or otherwise of the sensibilities of the nouveaux riches.

 

[MscleLovr]

When I was a child, I liked watching that TV show very much. Of course, the characters were newly rich but they didn’t flaunt their wealth. They simply enjoyed their money. They didn’t seek publicity and they didn’t take pleasure in putting down others. 

43 minutes ago, mike carey said:

Not everyone…has the same view on the vulgarity…of the nouveaux riches.

Oh @mike carey you and I will have to disagree. How could that posting of a pic of 2 private jets (with that caption “You wanna take mine or yours?”) be considered anything but vulgar? 🤔
 

Somehow I suspect that old adage of ‘rags to riches to rags, in three generations’ will be proved true with many of the newly rich of the last two decades.

 

 

[mike carey]

3 minutes ago, MscleLovr said:

Oh @mike carey you and I will have to disagree. How could that posting of a pic of 2 private jets (with that caption “You wanna take mine or yours?”) be considered anything but vulgar? 🤔

Hahahaha! I did not say which side of the discussion I was sitting. Let's just say you might, just might not have made an entirely accurate assumption!

[MscleLovr]

I knew it! 😎

I’ve visited Australia many times over the years. I love the country…but I must say I’ve encountered quite a few Aussies who seem to regard the Kardashians as role-models. (And I’m not talking about ‘cashed-up tradies’ either).

[+ Pensant]

On 7/21/2022 at 3:03 AM, MscleLovr said:

Thanks to @samhexum for this thread. It’s the first time I’ve read anything about the Kardashians. They seem to personify the worst traits of the ‘nouveau riche’.

There is only one aspect I don’t understand. Both @augustus and @BSR seem sensible. So how can they disagree about this being vulgar?

Yeah, I know little about them but what I do know tends to make me nauseous. They’re every bit as disgusting as the Russian oligarchs.

[+ BenjaminNicholas]

Her money.  Her rules.  Let her be.

I'm no Kardashian fan, but respect the hustle.  They're billionaires with a clear work ethic.

Those who can, do.

[FewBricksShy]

I would hardly call it “work ethic.” No one “earns” billions of dollars. No one. It’s obscene. 

[Lookin]

On 7/20/2022 at 8:11 PM, augustus said:

Behavior like this is vulgar.  On the other hand, let the dearie spend and spend.

Even though it is not easy

To be poor and also sleazy

When I have to I can fudge it

And be vulgar on a budget