Toni Anne Barson/WireImage(LOS ANGELES) — Remember when Forbes last year crowned Kylie Jenner the youngest “self-made” billionaire in the world? The publication now believes it was duped into giving her the title.
In an article published Friday, Forbes concedes that after unearthing new information about her cosmetics business, they cannot, in fact, call Kylie a billionaire.
The publication claims that the Kardashian-Jenner family exaggerated the success of Kylie Cosmetics for years — even going so far as allegedly creating tax returns that were likely forged.
Kylie sold 51% of her Kylie Cosmetics to beauty giant Coty in January, in a deal that valued her company at $1.2 billion, seemingly proving her billionaire status. But according to Forbes, the deal’s fine print — released in filings by Coty over the last six months — reveals that Kylie’s business is “significantly smaller, and less profitable” than the family has led the cosmetics industry and media outlets to believe.
Forbes now puts Kylie’s net worth at just under $900 million.
Kylie tweeted Friday in response to the article, “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.”
In response to the claim about forged tax returns, which Forbes admits they “can’t prove,” Kylie tweeted, “‘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.”
“but okay i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine,” Jenner wrote, before adding, “i can name a list of 100 things more important right now than fixating on how much money i have.”
By Andrea Tuccillo
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