Home LA Showbiz Forbes magazine claim Kylie Jenner is NOT a billionaire in explosive article

Forbes magazine claim Kylie Jenner is NOT a billionaire in explosive article

The publication has accused the reality star of inflating her success

Kylie previously held the top spot as Instagram's highest earner

Forbes magazine have claimed Kylie Jenner is not a billionaire, in an explosive article.

Just two months after she was named the world’s youngest self-made billionaire for the second year in a row, the publication has accused the 22-year-old of inflating her success.

The reality star famously sold 51 per cent of her company, Kylie Cosmetics, to Coty. Inc last year for $600 million.

However, Forbes believe that even after she pocketed an estimated $340 million from the sale (after tax) – Kylie is “not a billionaire”.

The outlet came to the conclusion after they reviewed filings released by publicly traded Coty over the past six months.

Forbes wrote: “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.”

“Of course white lies, omissions and outright fabrications are to be expected from the family that perfected—then monetized—the concept of ‘famous for being famous.'”

“But, similar to Donald Trump’s decades-long obsession with his net worth, the unusual lengths to which the Jenners have been willing to go—including inviting Forbes into their mansions and CPA’s offices, and even creating tax returns that were likely forged—reveals just how desperate some of the ultra-rich are to look even richer.”


In the piece, they continue: “Revenues over a 12-month period preceding the deal: $177million according to the Coty presentation, far lower than the published estimates at the time.”

“More problematic, Coty said that sales were up 40% from 2018, meaning the business only generated about $125 million that year, nowhere near the $360 million the Jenners had led Forbes to believe.”


“Kylie’s skincare line, which launched in May 2019, did $100 million in revenues in its first month and a half, Kylie’s reps told us. The filings show the line was actually ‘on track’ to finish the year with just $25 million in sales.”

Forbes have claimed that their new calculations put Kylie’s fortune at just under $900million.


Kylie first made it onto Forbes’ billionaires list in March 2019, and at the time she was forced to defend her ‘self-made’ title, as many argued that her family’s fame and success helped her along the way.

In response, Kylie said: “There’s really no other word to use other than self-made because that is the truth. That is the category that I fall under.”


“Although, I am a special case because before I started Kylie Cosmetics I had a huge platform and lots of fans. I did not get money from my parents past the age of 15.”

“I used 100% of my own money to start the company, not a dime in my bank account is inherited … and I am very proud of that,” she added.


UPDATE: Kylie has since slammed Forbes magazine’s claim that she ‘lied’ to secure her billionaire title.


Responding to their exposé in a series of tweets on Friday, Kylie wrote: “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.”

In another tweet, the mother-of-one wrote: “‘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.”


“but okay ???? i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine,” she added in a third tweet. ”

“I can name a list of 100 things more important right now than fixating on how much money i have.”

The news comes just weeks after Kylie’s brother-in-law Kanye West was declared a billionaire by the magazine, with an estimated net worth of around $1.26 billion.

However, the article bizarrely noted that Kanye was unhappy with their findings, as he believes his net worth is around $3.3 billion.

Goss.ie have contacted Kylie Jenner’s reps for comment. 

On this week’s episode of #GossChats, Ali Ryan chats to Love Island winner and rugby star Greg O’Shea about his experience on the reality show, what REALLY happened after his split from Amber Gill, and some of the strange things women have sent him in his DMs…

#GossChats is sponsored by top Irish aesthetic clinic Haus of JeJuve.