Kylie Jenner is not a billionaire, and fabricated financial documents to support the false claim that she was, according to a new report. In a detailed report based on public financial disclosures, Forbes on Friday accused the family of creating a ‘web of lies’ and says Kylie, 22, has inflated the size of her business and success.
The publication accuses her of ‘lying about company figures and forging tax returns’ to be dubbed a billionaire.
Based on filings from beauty giant Coty, which acquired a 51 percent stake of Kylie’s makeup company in January at a valuation of $1.2 billion, Kylie Cosmetics generated revenues and profits that were far lower that the figures touted for years by the Jenner-Kardashian clan.
Forbes now pegs Kylie’s net worth at $900 million. In a statement on Twitter, she fired back, writing: ‘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.’