Is Kylie Jenner a billionaire or not?
Last Friday, Forbes unveiled new financial findings that effectively stripped Kylie Jenner of the “youngest self-made billionaire” title they bestowed her back in March 2019 (and again earlier this year).
The full report, brazenly titled “Inside Kylie Jenner’s Web of Lies – And Why She’s No Longer a Billionaire”, accused the beauty moghul of forging tax documents and inflating the size and scale of her business.
“Filings released by publicly traded Coty over the past six months lay bare one of the family’s best-kept secrets: Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe,” the report reads.
“Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire.”
Instead of the $1.2 billion net worth the magazine estimated in April, its latest investigations set her back at just under $900 million. This is attributed in part to Coty’s share price falling over 60% due to the impact of coronavirus on beauty stocks and consumer spending, on top of allegedly exaggerated tax returns and sales revenues.
Related: Kylie Jenner sold a majority stake in Kylie Cosmetics to Coty
But the 22-year-old has since hit back at the publication via her Twitter account.
“What am I even waking up to,” she tweeted in response to the news, “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
Her responses to Forbes’ claims were met with support from fans and disbelief from netizens alike. Still others rained criticisms on the social media superstar for contesting over her wealth instead of using her platforms for greater causes.
On that note, Kylie later tweeted: “i can name a list of 100 things more important right now than fixating on how much money i have”.
Since the Jenners don’t seem to be responding to Forbes’ further queries, only time will tell who’s lying or who’s mistaken.
i can name a list of 100 things more important right now than fixating on how much money i have
— Kylie Jenner (@KylieJenner) May 29, 2020
