With much pomp and circumstance, Forbes crowned Kylie Jenner the youngest self-made billionaire ever a year and a half ago.
It turns out it was a big lie.
Forbes has just revoked Kylie's 10 figure status and ripped the 21-year-old and her mom Kris for presenting them with a "web of lies."
According to Forbes, Kylie and her CPAs showed Forbes tax returns that suggested the revenue for her cosmetic company was somewhere between $307 million to $360 million per year between 2016-2018. However, the real revenues were more in the $150 million range.
Forbes believes Kylie and her team forged documents "to help juice Forbes' estimate of Kylie's earnings and net worth." They don't believe she submitted these false returns to the IRS.
The good news for Kylie's net worth is it's still almost $900 million.
Kylie shot back at Forbes's announcement in a series of Tweets:
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 typed. “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. but okay i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine."