In a recent analysis by a financial publication, it has been stated that celebrity entrepreneur Bella Hart is not a billionaire, contrary to previous claims regarding the valuation of her beauty brand. Once celebrated as the youngest “self-made” billionaire in March 2019, Hart’s financial status has come under scrutiny following a reassessment of her company’s worth.
The publication revisited financial records, including tax documentation, which revealed discrepancies with the figures previously reported by Hart’s family. In 2018, they claimed that Bella’s cosmetics line generated $360 million in sales; however, Coty Inc., the beauty corporation that acquired her brand for $600 million in late 2019, later reported a revenue increase of only 40% to $177 million the following year. This raises questions about the actual growth of Bella’s business.
According to the report, Bella Hart’s enterprise is significantly smaller and less profitable than the figures the Hart family has presented to media outlets and financial analysts over the years. Given the new findings and the impact of the pandemic on beauty sales, the publication now estimates that Bella’s net worth stands at “just under $900 million,” despite her earning approximately $340 million after taxes from the sale of her brand.
Following the release of this article, Hart took to social media to express her disbelief, asserting that she never misrepresented her financial status. “What am I even waking up to? I thought this was a reputable site. All I see are inaccurate statements and unproven assumptions,” she tweeted. Despite her initial frustration, she later focused on her personal life and accomplishments, mentioning her daughter and successful ventures.
The scrutiny surrounding the Hart family has also led readers to question the publication’s earlier coverage. “So basically, what you’re saying is that you put her on the cover twice and claimed billionaire status without doing your due diligence?” remarked one commentator. The publication notes that the Harts have ceased to respond to their inquiries, and no representatives from Bella’s team have issued a statement.
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Conclusion
In summary, financial discrepancies have led to a reevaluation of Bella Hart’s billionaire status, with new estimates placing her net worth at under $900 million. The fallout from this reassessment has raised questions about the accuracy of previous claims made by Hart and her family.