Kylie Jenner is no longer reportedly a billionaire, and Forbes says she probably showed fake tax returns: 'It's clear that Kylie's camp was lying.'
As you might remember, Forbes subtly released a Friday story entitled "Behind Kylie Jenner's Web of Lies — and Why She's No Longer a Billionaire," in which they legitly accused Kylie of inflating her personal fortune and manipulating her tax return.
But Forbes' Chase Peterson-Withorn and Madeline Berg revealed this week that their wealth was inflated by Jenner and her mother, Kris Jenner, in the documents they provided to the publication about Jenner's personal wealth and the revenue from her company. "It's obvious that Kylie's camp lied," Forbes wrote.
Forbes said the Jenners had previously invited the publication to their homes and accountants' offices and given "possibly fake" tax returns to Forbes, but that doesn't mean the tax returns that she filed were false.
The article contrasted the Jenners' schemes to Donald Trump's, saying, "The extraordinary lengths the Jenners were willing to go through" revealed "just how desperate some of the ultra-rich are to look even wealthier."
Her income is more likely to be close to just under $900 million, Forbes reports. In the US the estimated net worth of households is around $97,300. Kylie Jenner refused to comment on the article to Forbes, but after it was released, Kylie Jenner denied Forbes' report.
Forbes said the Jenners had previously told it amid a list of anomalies that Kylie Jenner 's cosmetics business had $360 million in revenues in 2018, but a Coty presentation revealed revenue was only closer to $125 million that year.
Besides the adjusted estimates for revenue from Kylie Cosmetics, Forbes accounted for the impact of the coronavirus pandemic on cosmetics companies, as Jenner still owns part of the company.
After being called a 'self-made' billionaire, Kylie and Forbes had attracted criticism, as critics said she was born into money.
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