Is Jeffree Star’s Net Worth As High As He Says It? Why he needs a PPP loan – Film Daily

Jeffree Star may be one of the most successful people on YouTube, but that doesn’t mean he’s free from financial issues. Initiated reported that Star’s popular makeup business, Jeffree star Cosmetics, received a PPP loan of $ 350,000 from the government to help during the coronavirus pandemic. The loan has led many fans to question the state of Star’s net worth and why he would need to apply for a loan in the first place.

According to Celebrity Net Worth, Star has an estimated net worth of $ 200 million. He amassed most of this fortune through his cosmetics brand and his YouTube videos. During a 2018 interview with Shane Dawson, Star revealed that he also has investments in companies around the world.

“I own investment properties all over the world, I invest in the marijuana business,” Starr explained. “I have a full shipping and distribution center, I own a merchandise business, I print and manufacture everything myself. So I have about ten companies that I currently run in addition to my brand which is my cosmetics company. Starr announced that he also plans to write an autobiography in the future.

Diversified business portfolio

Star launched Jeffree Star Cosmetics in 2014 and Forbes said the company is currently valued at $ 100 million. Star’s PPP claim may seem odd to some readers given the company’s high price tag, but Star’s reputation as a controversial YouTuber has actually hampered his earnings over the past year or so.

In May 2019, Star teamed up with YouTubers Shane Dawson and Tati Westbrook shoot down the cosmetics star Jacques Charles. The trio accused Charles of inappropriate behavior towards other men, and Star went so far as to claim that he had evidence that Charles sexually harassed one of his fans. However, it was revealed that the trio made up these claims, and their plan to “undo” Charles resulted in a backlash.

Star has become one of YouTube’s most hated figures, and Social blade reported that it had lost more than 100,000 subscribers in the space of a month. It currently has 17.2 million subscribers, which means it has seen a 500% increase in its average subscriber loss numbers.

YouTube scandals

The fallout didn’t stop there. YouTuber Kameron Lester cut ties with Star due to his history of racist comments. Lester has claimed he felt like the “symbolic black youth” during their working relationship, and fans responded by not following Star at an all-time high. Dexerto reported that Star lost 18,000 Instagram subscribers and 100,000 other YouTube subscribers in a single day.

Brand Morphe announced it would “cease all activity” with Star in July, citing her behavior on YouTube as the cause. Morphe was the main retailer of the Star cosmetics line, and Initiated said the brand has organized dozens of events to launch Star’s various products.

Morphe confirmed their separation from Star on Twitter. “Today we have made the decision to cease all commercial activity related to Jeffree Star and affiliated products,” they wrote. “We expect this to end in the coming weeks. As we look ahead, we’ll continue to share updates on what lies ahead for the Morphe brand. “

Financial setbacks

Jeffree Star Cosmetics posted an official response: “We are shocked and extremely saddened by the decision of our former retail partner Morphe Brushes to part ways with our group and Jeffree,” the response read. “We have accomplished incredible things together and launched iconic products. We are proud of everything we have accomplished with them.

Star recently launched the nicknamed “Orgy” palette collection, which included a 30-pan “ALL mat” eyeshadow palette, a metallic mini palette, and a nude lip box collection. It was his first outing after the James Charles scandal. Representatives of Jeffree Star Cosmetics have yet to respond to inquiries regarding the PPP loan.

The move was announced after weeks of growing backlash against Star and his friend and co-collaborator, Shane Dawson.

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