Forbes magazine, which had once declared reality TV star Kylie Jenner the youngest self-made billionaire on its cover, has revealed she no longer deserves the title.
The magazine on Friday reportedly said that it reviewed the financial data released by Coty Inc, which bought a 51 percent stake in the beauty mogul’s company Kylie Cosmetics in November 2019.
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“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,” the magazine reported.
Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire.”
As per reports, Forbes now estimates the net worth of Kylie Jenner, 22, at around $900 million.
Taking to Twitter, Jenner responded in a series of tweets, 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 later tweeted, “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 who is also the half-sister of Kim, Khloe and Kourtney Kardashian debuted her company Kylie Cosmetics in 2016 with $US29 lip kits containing matching lipstick and lip liner.
In March 2019, Jenner featured on the magazines cover along with the headline, “At 21, Kylie Jenner Becomes The Youngest Self-Made Billionaire Ever.”