Celebrity News

Forbes revokes Kylie Jenner’s billionaire status, names her a fraud

Forbes revokes Kylie Jenner's billionaire status, names her a fraud
Forbes has revoked Kylie Jenner’s billionaire status and accused her of inflating the size of her success and fortune. 

A year after labelling her the youngest self-made billionaire at 21, Forbes has now accused Kylie Jenner of lying about her fortune and forging tax returns in order to reach billionaire status.

In a report titled, ‘Inside Kylie Jenner’s Web of Lies – And Why’s She’s No Longer a Billionaire’, Forbes accused Jenner and her family of lying to the financial company and other industry experts about the size of her fortune.

Forbes spared no words with exposing the Kardashians, comparing Kylie’s actions with Donald Trump’s decade-long obsession with his net worth, saying:

“the unusual lengths to which the Jenners have been willing to go—including inviting Forbes into their mansions and CPA’s offices, and even creating tax returns that were likely forged—reveals just how desperate some of the ultra-rich are to look even richer.”

In January 2020, Kylie sold the majority stake (51%) of her company, Kylie Cosmetics to Coty in an alleged $1.2 billion deal. Both Kylie and Coty bragged about the deal in which Kylie was said to have pocketed $600 million dollars.

According to Forbes’ expose though, Kylie only made $340 from the deal after tax deductions. According to Forbes’ new valuation, Kylie is worth just under $900 million.

Read the full feature here.