Forbes magazine alleges that Kylie Jenner, who they previously declared as a billionaire, has inflated her worth. The allegations came after a thorough examination of her financial documents.
Forbes said, “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. Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire.”
Jenner’s status as a billionaire is the product of marketing and misleading claims from a family that has made overvaluing themselves into a profitable business.
Jenner issued a response on Twitter 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.”
The case against Jenner is quite significant. Forbes said the “business was never that big to begin with, and 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.”
Manufacturing tax returns and making financial claims off those drafted returns may very well draw the attention of federal authorities. The consequences of false advertising may hit hard for Kylie Jenner.
Read the full story here.