Kylie Jenner’s Twitter meltdown – when Forbes accuses a Kardashian-Jenner of ‘lying’ about being a billionaire, only social media will do
The Kylie Cosmetics founder was controversially hailed by Forbes as the world’s youngest self-made billionaire – but now the magazine has stripped Jenner of the coveted title and accused her of lying about her assets ... what’s the truth, and who should we believe?
Now, in a rude about-face, the magazine is saying that Jenner is not, in fact, a billionaire. In a new investigation, the magazine says that Jenner has exaggerated the size and profitability of her business and misled Forbes and other publications since 2016.
It's clear that Kylie's camp has been lying
Jenner, now 22, was named last year by Forbes as “the youngest self-made billionaire ever”. Jenner had made millions from her company, Kylie Cosmetics, which she later sold a 51 per cent stake to the beauty company Coty in a deal that valued her company at US$1.2 billion.
But, Forbes reported this week that Jenner and her mother, Kris Jenner, inflated their wealth in documents they provided to the publication.
“It's clear that Kylie's camp has been lying,” Forbes reported.
The magazine said the Jenners have previously invited the publication into their homes and accountants' offices, and provided tax returns “that were likely forged”.
Forbes compared the Jenners' manoeuvres to those of 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”.
Her wealth is likely closer to just under US$900 million, according to Forbes' estimate. The median household net worth in the US is around US$97,300.