Forbes accuses Kylie Jenner of ‘web of lies’ and strips her of billionaire status 😲

The publication previously proclaimed her a self-made billionaire.

Kylie Jenner cosmetics wealth

by Heat |

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 includesKylie 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, however.

Check out: Keeping Up with the Kardashians: the most iconic fights

Gallery

Keeping Up with the Kardashian fights

kourtney and kim kardashian
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In March, Kim and Kourtney had a physical fight and to be honest we're not surprised. Tension has been building between the pair for quite some time and Kourt even confessed that she's stepping back from the reality show - before everyone else did.

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Remember when Khloe shut the door on Kim when she was trying to get into the apartment and then Kim came out with the famous line, 'don't be f—king rude' before hitting her with her bag? Iconic.

kim rob kardashian kris humphries
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Throwback to when Kim was dating (and then went on to marry) Kris Humphries. Well, one of the stand-out moments from their relationship was the whole diamond earring incident but during that same holiday, remember when Kim and Kris argued with Rob Kardashian? After the siblings exchanged words, Kris stepped in to defend Kim but nobody was prepared for when Rob called her a 'wh-re'.

Kylie Kendall Jenner
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So Kylie and Kendall aren't full time cast members but whenever they're on screen they know how to make their mark. While the pair were getting ready at Kylie's house, Kendall wanted to borrow one of her sister's dresses and it's safe to say Ky wasn't having it. Kylie refused to lend her the dress and Kendall went on to call her 'the biggest f—king b-tch' and a 'c—t'. So much dramz.

Kim Kourtney Kardashian
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Kim and Kourtney's row over North West and Penelope Disick's Candyland themed party went on for a few days but it reached its peak when they came to blows and almost called it off. While Kourtney was arguing it'll be too much sugar for the kids, Kim pointed out that was the whole theme of the party. Luckily they went ahead with it but the kids ended up being far too hyper… following all that candy.

scott disick waiter
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Scott has definitely had the best character development throughout the series. Remember the early series when he went wild with his partying? He punched the mirror in Miami and shoved money down the waiters throat? Everyone was embarrassed and of course, the following day he apologised.

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This row still makes us cringe whenever we think about it. During dinner Kourtney revealed Penelope scratched her nanny on the face and it resulted in her quitting. Things were getting pretty heated between everyone but it certainly took a turn when Corey said if she was his child he would have given her a 'spanking for sure'. Oh boy...

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It all kicked off when Caitlyn Jenner publicly announced she was going to the Victoria's Secret Fashion Show that Kendall was walking. Kendall put her foot down and admitted she was 'p-ssed' at her dad for taking the attention and went on to disinvite her. Awks.

kris jenner kim kardashian
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This will always be our funniest KUWTK episode. When the Kardashian sisters (and Kim's friend Larsa Pippen) were judging Kris for letting Rob stay in one of her houses, Kris put her foot down. She reminded them that she's supported them throughout all their 'sh-t' including Kim's short marriage –remember her classic, 'I'm married for 72 days, really that was normal? Iconique.

kim kourtney kardashian
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Kim is pretty savage during any argument but she went a step too far when she claimed Kourtney was the 'least interesting to look at' after her older sister was being difficult with the schedule for their annual Christmas card.

Kourtney vs Jonathan
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Throwback to Kourtney and Khloe take Miami (an iconic time, tbh). Jonathan should learn not to get involved in family fights. During the early days he defended Kim and ended up rowing with Kourtney. After Kourt told him "you're shoved so far up Kim's ass" and "You're such a f—king loser", he clapped back and said, "Scott's never going to marry you!" Kourt didn't take his jibe lightly and ended up slapping him around the face.

Kendall vs Kris
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The Kardashians Christmas party is one we would LOVE to go to but in 2018 things got a little awkward when Kendall wanted her dad Caitlyn to attend but Kris wasn't keen. After Kris pointed out that it could be awkward because of all the drama from Caitlyn's book, Kendall made it clear she wanted her dad there.

Kim and Jonathan Khloe and Malika
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While the Kardashians were on holiday, things got awkward when Jonathan Cheban told Malika Haaq that he got a bigger room because his best friend Kim is more famous than her best pal Khloe. When they all confronted each other, Kim told Khloe and Malika that she thought they had "an inferiority complex". Riiiight.

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When Rob started dating Blac Chyna it was awkward for the entire family but things took a turn when he gave her an iPad… that Kendall gave him for HIS birthday. To top it all off, Kendall found out through Instagram.

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.'

Watch: we wore fake eyelashes for a week

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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.' Representatives of the family are yet to comment on the accusation.

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.

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