Kylie Jenner has hit back after being accused by Forbes magazine – who dubbed her a “self-made billionaire” last year – of creating “a web of lies” about her fortune.
The magazine faced backlash 13 months ago when it ran a front cover splashing Kylie over it and dubbing her a “self-made billionaire” which peopled questioned because of her wealthy background.
Kim Kardashian’s youngest sister is the daughter of Kris Jenner and Gold Olympic Athlete Bruce Jenner, known now as Caitlyn Jenner.
Over a year later, the publication has now published a lengthy report accusing the 22-year-old of “lying about company figures and forging tax returns” to reach the billionaire status – which Kylie has hit back at.
Forbes dubbed Kylie Jenner a ‘self-made’ billionaire 13 months ago (Image: FORBES)
She posted on Twitter: “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.
“‘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.”
She continued: “But okay I am blessed beyond my years, I have a beautiful daughter, and a successful business and i’m doing perfectly fine.
“I can name a list of 100 things more important right now than fixating on how much money I have.”
The shocking claims come after the mother-of-one sold 51 per cent of her company Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion in January.
The publication has now accused Kylie of ‘lying’ about her fortune (Image: INSTAGRAM KYLIEJENNER)
Following this new information, Forbes now think that Kylie, even after pocketing an estimated $340 million after tax from the sale, is not a billionaire.
The magazine claim that the figures released by publicly traded Coty over the past half-a-year reveal Kylie’s make-up business is “significantly smaller” than people have been led to believe.
Forbes wrote: “Revenues over a 12-month period preceding the deal: $177million according to the Coty presentation, far lower than the published estimates at the time.
The mother-of-one is reportedly actually worth $900million (Image: REUTERS)
“More problematic, Coty said that sales were up 40% from 2018, meaning the business only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe.
“Kylie’s skincare line, which launched in May 2019, did $100 million in revenues in its first month and a half, Kylie’s reps told us. The filings show the line was actually “on track” to finish the year with just $25 million in sales.”
Forbes continued its claims by writing that there’s no way the numbers the Jenners were offering in earlier years “could be true”.
The publication wrote: “If Kylie Cosmetics did $125 million in sales in 2018, how could it have done $307 million in 2016 as their supposed tax returns state or $330 million in 2017?”
Forbes claim that their new findings put the reality TV star’s personal fortune at just under $900million.
Source: Celebrities - dailystar.co.uk
