Kylie Jenner has hit back at Forbes Magazine Forbes, who had accused her and her mother of lying about her Billionaire status. The cosmetic mogul who questioned the credibility of Forbes magazine said she never asked for any title, neither did she ever lied about being a billionaire.
Kylie Jenner taking to her social media page on Friday, a few hours after the news broke about her allegedly lying about her billionaire status, said:
“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.”
She continues by quoting the article, “‘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.”
Finally saying, “but okay. i am blessed beyond my years, I have a beautiful daughter, and 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,” she said.
Forbes had reported that Kylie Jenner’s Billionaire status has been taken off after they crowned her as the world’s youngest billionaire in 2018, due to the web of lies they allegedly uncovered about her earnings. The magazine was quoted to have said that the American cosmetics mogul intentionally lied to them about her company’s financial status.
According to the report obtained from TMZ, Forbes magazine said Kylie and her mother who happens to be her manager, Kris Jenner, lied about the success of Kylie Cosmetics, which they said centres around the companies financials from 2016 to 2018.
According to Forbes, the family invited them into their mansions and CPA’s offices. Here’s what the magazine says it was told: The Jenners provided documents showing Kylie’s company’s annual revenue from 2016 to 2018 was somewhere between $307 million to $360 million per year.
Forbes now says the real numbers were $125 mil for 2018, $177 mil for 2017 and Forbes did not provide a number for 2016, but claims it was still greatly exaggerated.
The magazine claims the Jenners had accountants create false tax returns “to help juice Forbes’ estimate of Kylie’s earnings and net worth.” Important to note, Forbes is not saying she filed false tax returns with the government, and they are also not saying she is not rich.
Forbes’ readjusted numbers claim she’s actually worth just south of $900 million. So, she will get to billionaire status at some point. Forbes just thinks she cut corners to make it look like she got there early.
Kylie sold off 51% of her company last year to cosmetics giant Coty. In somewhat of a final jab … Forbes points out Coty’s stock prices have plummeted more than 60% since the November 2019 deal.