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Forbes gees it, Kylie Jenner is not the youngest self made billionaire

Forbes has been a well-respected publication for a while now…

They have these entertaining lists — like Hip-Hop’s Cash Kings — that cover the worlds biggest moneymakers, they’re frequently name-dropped in songs, and, most importantly, it’s just hard to make earning money problematic.

Yet, shockingly, they found a way.

Tuesday of this week the finance site reported that makeup mogul, model, and a reality TV star, Kylie Jenner was the world’s youngest “self-made” billionaire, per their annual billionaires’ list.

While this content may seem on brand and surely believable, the statement has received major backlash from all sides, calling-out the site out for their usage of the term ‘self-made’.

As we all know, Kylie is apart of the Kardashian empire, meaning the moment she popped out of mothers womb she had money in her bank account.

Add the facts that Keeping Up With the Kardashians has been a smash hit since it debuted in 2007, plus, her spin-off, Life of Kylie, which has amassed her a following that’s more than viral, and the unrealistic body and face modifications that makes every girl jealous, we should understand the anger.

The truth of the matter is that while Kylie has had resources upon resources to position her into a 10-figure net worth, none of her sisters, who have had the same opportunities and more, have yet reached that status.

Kim has a mobile game app and is the star of KUWTK, she has made her bed with Kanye and all things Yeezy; Kendall managed to use her privilege to snag a modeling career but didn’t quite hit the bank, and Khloe, Kourtney, and Rob fizzled into ventures of their own. None quite hitting the bank like their younger sister.

But Kylie, at the age of 17, used $250,000 of her earnings from her various business ventures and created the first of her eponymous lip kits. To say it’s done well would be an understatement, racking in $360 billion last year alone.

No Jenner or Kardashian gave her that.

Why it matters

No one is knocking the  21-year-old and her accomplishments but throwing out  ‘youngest ever self-made billionaire’ ignores those who actually came up from nothing and misrepresents what the grind actually looks like.

When a kid sees that someone like Lebron, who actually comes from poverty and who had to work for every single opportunity that came his way, it gives hope because, for a lot of those kids, it’s the same.

Instead of looking at what they don’t have and getting discouraged, they can look at Bron and get inspired to overcome it.

Kylie’s story doesn’t quite represent that. I’m not sure a kid who has nothing can look at her origins and become inspired to overcome where they’re at.

Talks of Kylie’s self-made legitimacy really peaked when called Forbes out, tweeting them a technical definition of what ‘self-made’ actually means.

‘Succeeded in a life unaided’ was the burn they issued the storied publication and the internet came to their praise for the schooling.

Kylie’s career wasn’t “unaided” because her business success is hugely impacted by her social media presence, which is in large due to being on KUWTK since she was 10 years old.

Shoutout to Kylie for reaching the billionaire status, but please don’t think we’re fooled into thinking you did it alone.

This landlord in NYC just became a billionaire thanks to gentrification

Joel Weiner, a New York real estate magnate, has a net worth of $1 billion, but his riches have come at the expense of low-income tenants according to a report by Bloomberg.

Weiner, whose Pinnacle Group owns over 10,000 units across Manhattan, Brooklyn, The Bronx, and Queens, is the subject of numerous lawsuits across his many holdings, with tenants alleging neglect and soaring rent prices.

Kim Powell is the founder of Buyers and Renters United to Save Harlem, a group that has worked to shed light on improprieties by landlords in New York City. Powell told Bloomberg about the role that landlords play in gentrification and hurting tenants in low-income housing.

Bloomberg reported:

“Powell and other critics say landlords like Wiener are helping to accelerate the demise of affordable housing by snapping up buildings in once undesirable neighborhoods and driving out existing tenants with high rents.”

Powell asserted that Weiner and Pinnacle Group drive tenants out through soaring rent prices and allowing buildings to fall into disrepair. She told Bloomberg, “The harassment comes dressed up in a pinstripe suit. This is a family empire that’s mushroomed into a billion-dollar estate.”

Pinnacle Group is involved with a variety of lawsuits across New York City’s boroughs, with allegations ranging from building neglect, to unfair rent inflation, to trying to build a parking garage that threatens the stability of a building.

At one building in Brooklyn, tenants are claiming that Weiner’s group has let the property fall apart in order to get tenants to leave. According to Bloomberg:

“Residents, who asked not to be identified because they live in the building, also say Pinnacle neglected the property to get tenants to leave in order to raise rents.”

Weiner’s lawyer Ken Fisher told Bloomberg that the landlord is simply providing good, hands-on management. Fisher said the changes to Weiner’s buildings, “Might have felt like gentrification to long-term residents who were accustomed to sub-standard living conditions, but it’s just good management.”

There’s a fine line between cleaning up buildings or making improvements and actively driving out previous tenants.

The last 15 years of gentrification in New York City have left low-income tenants with fewer housing options.

Mayor Bill de Blasio made affordable housing a key issue in his reelection campaign, it would be great to see some sort of initiative or legislation to halt the rising tides of gentrification. We need to make the city affordable for all New Yorkers.

Billionaire Beef! Elon Musk rips Mark Zuckerberg’s ‘limited understanding’ of AI

It is with a heavy heart that I must announce the billionaires are at it again.

While taking questions during a Facebook Live broadcast, Mark Zuckerberg was asked about a recent interview in which Elon Musk issued a pretty stern, and rather dystopian, opinion about the future “threat” of Artificial Intelligence.

Zuckerberg answered the question in what many took to be a shot at Musk’s summation that AI is dangerous. The Facebook founder said of AI,

“I have pretty strong opinions on this. I am optimistic. And I think people who are naysayers and try to drum up these doomsday scenarios — I just, I don’t understand it. It’s really negative and in some ways I actually think it is pretty irresponsible.”

Zuckerberg offered a further response, saying that any and all technology can be used for good and for bad,

“Whenever I hear people saying AI is going to hurt people in the future, I think yeah, you know, technology can generally always be used for good and bad, and you need to be careful about how you build it and you need to be careful about what you build and how it is going to be used,”

Elon caught wind of Mark’s comments and replied to a story on Twitter with his own pithy putdown of The Zuck.

Billionaire shots fired!

Look at that condescension, “his understanding of the subject is limited.” That’s some Silicon Valley ether.

Zuckerberg was referring to comments made by Musk to the National Governors Association on Saturday that people should be “really concerned” about AI.

Musk told the nation’s governors,

“I have exposure to the very cutting edge AI, and I think people should be really concerned about it. I keep sounding the alarm bell, but until people see robots going down the street killing people, they don’t know how to react, because it seems so ethereal.”

The ambitious South African-born entrepreneur insisted that strict regulation of AI is crucial to limiting the threat of AI,

“AI is a rare case where we need to be proactive about regulation instead of reactive. Because I think by the time we are reactive in AI regulation, it’s too late.”

A billionaire calling for regulation. 2017 sure is weird.

These two tech magnates offer very different views of the future.

In Musk’s version, we live in a simulated world of bloodthirsty robots who will try to take over the planet.

Whereas Mark Zuckerberg offers an optimistic future in which AI is going to make the world a better place. Zuckerberg in fact said in his Facebook Live that “in the next five to 10 years, AI is going to deliver so many improvements in the quality of our lives.”

Perhaps this is in line with Zuckerberg’s widely-speculated presidential candidacy. He is currently on a 50-state speaking tour that may indeed be the most obvious sign of a 2020 presidential run.

Honestly, the way American politics are going we’ll probably have a Zuck/Musk showdown in 2020.

In the meantime, I’m here for all the Billionaire Beef.