In an online video, Fobes is saying the Jenners have lied and exaggerated Kylie’s success.
Kylie Jenner’s status as a billionaire has been called into question by Forbes in a story that also raises questions about the magazine’s ability to accurately assess the finances of celebrities.
Forbes, known for its billionaire rankings, said it no longer considers the youngest member of the kardashian-Jenner family to be a billionaire, which it reported in March 2019.
The magazine on Friday published the results of an investigation into Jenner’s finances, saying she and her family provided misleading information about her wealth. It now estimates her net worth at just under $900 million.
In its investigation Friday, Forbes says the kardashians and Jenners have spent years fighting for higher spots on its annual wealth and celebrity earnings lists.
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Jenner’s brother-in-law and rapper Kanye West was included in Forbes list in April.
USA TODAY reached out to Jenner’s reps for comment on the report. Jenner took to Twitter tweeting Friday the Forbes article had “a number of inaccurate statements and unproven assumptions” and she “never asked for any title or tried to lie my way there EVER. period.”
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Last November, Jenner sold a $600-million stake in her cosmetic company Kylie Cosmetics to Coty Inc, a beauty company that owns CoverGirl, Tiffany & Co. and Balenciaga among other notable beauty and fashion brands. A news release at the time said Coty would own 51% of Jenner’s company.
Forbes called the sale one of “the greatest celebrity cashouts of all time” and said “the transaction seemed to confirm what Kylie had been saying all along” and what it declared in the March 2019 story. Coty officials declined to comment.
Jenner pocketed an estimated $340 million, after tax, from the sale, Forbes reported but said based on filings and the impact of COVID-19 on beauty stocks and consumer spending that Jenner is not believed to be a billionaire.
Forbes also said in its story that the family created “tax returns that were likely forged,” which Jenner’s attorney Michael Kump said was “unequiv