The Kardashians Are Not Billionaires, Or Why Reporters Need Basic Math Skills

FORBES, OCTOBER 12, 2011, CLARE O’CONNOR – “Ok, Access Hollywood, E!, and co: I know you’re not business news outlets. And I don’t expect you to produce sophisticated breakdowns of celebrity earnings. However, it’s time for your reporters — and others, including a Pulitzer Prize-winner at Newsweek — to learn that it takes more than shilling some shoes or perfume with your name slapped across it to “join the billionaire’s club” or become a “ billion-dollar baby.” Jessica Simpson is nowhere near a billionaire. Neither are the Olsen twins, despite a cover story to the contrary, based on very old Forbes numbers that were misinterpreted. The most recent “billionaires”, according to the fashion and gossip press? The ubiquitous Kardashian clan (klan?). Their various collections and brand exercises rake in hundreds of millions, said Womens Wear Daily, prompting a slew of “OMG they’re gonna be billionaires!” coverage in the afore-mentioned outlets.”

Michael Stone, CEO of Beanstalk, provides his point of view in the recent Forbes article. http://www.forbes.com/sites/clareoconnor/2011/10/12/the-kardashians-are-not-billionaires-or-why-reporters-need-basic-math-skills/

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