Kylie Jenner has responded to her billionaire status being revoked.
The 22-year-old Kardashian was given the title last year by Forbes, when the publication named her “The Youngest Self-Made Billionaire Ever.” Jenner earned millions through Kylie Cosmetics, later selling a 51% stake in the company to beauty company Coty, in a deal that valued the company at $1.2 billion.
But Forbes now says that Kylie and Kris Jenner exaggerated their wealth in financial papers that they showed the magazine, in order to prove the young Jenner’s personal wealth and Kylie Cosmetics’ revenue. “It's clear that Kylie's camp has been lying,” Forbes writes.
Kylie took to Twitter to address the article and slam Forbes shortly after it was published. "what am i even waking up to," Kylie wrote. "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"
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— Kylie Jenner (@KylieJenner) May 29, 2020
“even creating tax returns that were likely forged” that’s your proof? so you just THOUGHT they were forged? like actually what am i reading.— Kylie Jenner (@KylieJenner) May 29, 2020
but okay 🤍 i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine.— Kylie Jenner (@KylieJenner) May 29, 2020
The outlet says the Jenners invited Forbes into their homes and accountants’ offices, where they supplied the publication with tax returns “that were likely forged.” Forbes also likened their actions to Donald Trump, writing, “The unusual lengths to which the Jenners have been willing to go... reveals just how desperate some of the ultra-rich are to look even richer.”
Forbes says that it’s more likely that Kylie’s wealth sits just under $900 million. Neither the Jenners nor Coty responded to the magazine’s request for comment.
After Forbes did a little digging, the Jenners’ inconsistencies were reportedly glaring. The publication writes the Jenners previously said the cosmetics company’s 2018 revenue was $360 million, while figures from Coty show that sales were closer to $125 million that year. Forbes took the effects of the coronavirus pandemic into consideration when adjusting estimates for Kylie Cosmetics’ revenues, since Kylie still has a stake in the company.