Forbes drops Kylie Jenner from billionaires’ list
Forbes magazine on Friday said that Kylie Jenner is not actually a billionaire a year after it named her as the youngest self-made billionaire at the age of 21.
The magazine accused the reality TV star’s family of “inflating the value of her cosmetics business for years.”
Forbes declared the 22-year-old a billionaire in March 2019 owing to the popularity of her Kylie Cosmetics brand but has removed her from their list, citing new information.
It said that “Kylie claimed her cosmetics company was on track to sell more than $300 million in makeup that year. But in reality, it only did $125 million.”
In their article, Forbes slammed the Kardashian-Jenner family of “white lies, omissions and outright fabrications” and compared it to US President Donald Trump’s decades-long obsession with his net worth.
Jenner quickly responded on Twitter, denying that she had misrepresented her business’ financials: “I’ve never asked for any title or tried to lie my way there EVER. period,” she wrote.
Adding, “I can name a list of 100 things more important right now” after blowback from fans about her defensive tweets.
The mother of one started her beauty brand in 2015 with just a lip kit consisting of a matching set of lipstick and lip liner that cost $29.
In an earlier interview with Forbes, she explained how she was overwhelmed at how fast the product sold. She added that she was, however, humbled by the positive reaction.
Media reports indicated that Kylie Cosmetics sold out in hours during her first launch in 2015.
Jenner is the youngest daughter of Kris and Caitlyn, formerly Olympic gold medalist Bruce.
Her sister is supermodel Kendall. Her half-sisters are Kim, Kourtney, and Khloe Kardashian and brother Rob.