Kylie Jenner ‘Furious’ With Mum Kris Jenner After Forbes Strips Her Of Billionaire Status

The claims have gone global, and Kylie has hit back.

Kylie Jenner

by Grazia |

Whatever you think of the Kardashians, the family have shown an impressive ability to make money. Through their reality television empire, and the doors to endorsement deals that this opened, most members of the clan have launched lucrative businesses. That includes Kylie Jenner, who has been previously heralded by Forbes as a billionaire (they added 'self-made', but we've always had an issue with that). Now, however, the publication has claimed that this status is false, and that they were misled into saying so in the first place.

In a piece titled Inside 'Kylie Jenner's Web Of Lies', Forbes lays out their allegations. Their understanding of Kylie's billionaire status stemmed partly from her sale of a 51% stake of Kylie Cosmetics to Coty. The deal was said to be worth $1.2 billion. The team have now dug deeper, but Kylie responded on Friday morning via Twitter...

She added that there were plenty of more important things for the world to be worrying about beyond her net worth. New reports, however, suggest that she is very much worried. According to The Sun, she has cut off her mum and manager Kris Jenner. 'Kylie won’t answer the phone to Kris and is at a loss over who to trust', the reports state. 'Kris is petrified Kylie could sack her or cut her off so tensions are at an all-time high.'

The newspaper adds that both Kylie and Kris are 'freaking out' and a concerned that the accusations 'hurt their brand, and even worse, they could be in trouble with the government'. Kylie has denied all suggestions of impropriety.

The piece states that 'in the deal’s fine print, a less flattering truth emerged. Filings released by publicly traded Coty over the past six months lay bare one of the family’s best-kept secrets: Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe.'

The piece lists issues with profitability margins and inconsistencies in financial documents to cast doubt over their previously accepted statistics, and propose that 'the Jenners have lied about it every year since 2016—including having their accountant draft tax returns with false numbers—to help juice Forbes’ estimates of Kylie’s earnings and net worth.' Forbes are careful to clarify that 'while [they] can’t prove that those documents were fake (though it’s likely), it’s clear that Kylie’s camp has been lying.'

Forbes has, therefore, proclaimed that Kylie can no longer be described as a billionaire. They do, however, concede that her net worth is estimated to stand at $900 million. Not too shabby, really.

READ MORE: Kim Kardashian West: ‘Life Becomes A Little Bit Less About You Than It Used To Be’

Gallery

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