10:14 AM PT — Kylie’s legal team is now involved in the situation, attorney Michael Kump tells us, “We have reviewed Forbes’ article accusing Kylie of engaging in deceit and a ‘web of lies’ to inflate her net worth. The article is filled with outright lies. Forbes’ accusation that Kylie and her accountants ‘forged tax returns’ is unequivocally false and we are demanding that Forbes immediately and publicly retract that and other statements.”
Kump continues, “It is sad that, of all things, Forbes has devoted 3 reporters to investigate the effect of the coronavirus crisis on Kylie’s net worth. We would not expect that from a supermarket tabloid, much less from Forbes.”
8:56 AM PT — Kylie is firing back at Forbes, saying, “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 a 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.”
Kylie Jenner‘s billionaire status just got yanked by Forbes — which originally named her the youngest one ever — and the mag claims it’s all because the Jenners intentionally lied.
Forbes is blasting Kylie and her mom, Kris Jenner, for what it claims was a “web of lies” surrounding the success of Kylie Cosmetics. It all centers around the companies financials from 2016 to 2018.
Remember, Forbes crowned her the world’s youngest-ever “self-made” billionaire in August 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 doesn’t 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.
Now, don’t get it twisted … she ain’t broke. Forbes’ readjusted numbers claim she’s actually worth just south of $900 million. So, she’ll get to billionaire status at some point … Forbes just thinks she cut corners to make it look like she got there early.
BTW, you’ll recall 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.