Forbes named Kylie Jenner as the “youngest self-made billionaire, ever.” At the age of 21, she reportedly became a billionaire through her popular venture, Kylie Cosmetics.
Kylie, along with her family and fans, widely celebrated the milestone of the youngest member of the household. However, Forbes reportedly contested almost a week ago that the celebrity’s “camp has been lying.”
Forbes‘ Chase Peterson-Withorn and Madeline Berg released a headline claiming to have revealed Kylie Jenner’s “web of lies.” As stated, she is no longer a billionaire.
The publication also reportedly said that her business, Kylie Cosmetics, is “significantly smaller” and “less profitable” than what the Kardashian-Jenner family has claimed in the past. There were also accusations that Kylie and the rest of the Jenners “likely forged” the tax returns that they provided to Forbes.
The publication, however, noted that this does not necessarily mean that Kylie Jenner filed a “fraudulent” returns. Nevertheless, Forbes said that this showed the “unusual lengths” that they are “willing to go to” just to “look even richer.”
Aside from the claims, Forbes also provided exact figures on its piece. It is “fair to say” that everything they do is “oversized,” equity analyst, Stephani Wissink reportedly asserted.
Taking everything into account, the publication “recalculated” Kylie Jenner’s net worth. As reported, the “more realistic” accounting of her wealth puts her below AU$1.5 billion.
In Forbes‘ estimation, Kylie Jenner is only worth $900 million. This makes her no longer the publication’s youngest billionaire.
Following the piece, Kylie Jenner responded a day after the article went viral, according to Business Insider. She shared through social media that she thought “[Forbes] was a reputable site.”
She went on to reveal that she only saw “a number of inaccurate statements” and “unproven assumptions.” Kylie then ended the post claiming that she has “never asked for any title,” referencing the one she obtained last year, nor “tried to lie” her way up there.
The Kylie Cosmetics founder then criticized Forbes in another tweet. In defending her tax returns, she rhetorically asked, “so, you just thought they were forged”.
In response to Kylie Jenner’s social media posts, Forbes released a statement about its previous reporting. It reportedly said that the “extensively-reported investigation” happened due to the “newly-filed documents,” which entailed “glaring discrepancies.”
The statement also said that the reporters “spotted” these and spent months “uncovering the facts.” The discrepancies reportedly include Kylie Jenner and her camp’s claims that, in 2018, her company had a total sale of $360 million. However, they reportedly uncovered that the revenue for that year was only closer to $125 million.
Featured image courtesy of DFree/Shutterstock
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