Kylie Jenner's Lawyer Slams Forbes Report Questioning Her Billionaire Status

Lizzy Buczak
May 30, 2020 - 12:30 pm
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Kylie Jenner’s lawyer is demanding that Forbes remove their story accusing the star of lying about being a billionaire.

“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,” her lawyer, Michael Kump, told The Post in a statement shortly after the Forbes expose went live.

They specifically zoned in on Forbes’ allegations that Kylie lied about her tax returns in order to boost her network and make herself seem richer than she was.
“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,” the statement continued.

Early Friday morning, the publication stripped the youngest Jenner of the billionaire title it awarded her in March of 2019 in a report titled “Inside Kylie Jenner’s Web of Lies and Why She's No Longer a Billionaire."

At the time, Jenner was named the youngest self-made billionaire thanks to her cosmetic empire, Kylie Cosmetics.

The report accused the 22-year-old of lying about her wealth to inflate her net worth to “stay on brand.”

Jenner sold a majority stake in her company to Coty Inc. for $600 million, pushing the value of Kylie Cosmetics to $1.2 billion.

However, after analyzing six months of filings from Coty, Forbes found several accounting discrepancies and reported that Jenner's business "is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets” to believe.

Forbes said Jenner’s new worth is “just under $900 million.”

According to them, the “deal’s fine print reveals that she has been inflating the size and success of her business.” The report seeks to reveal “just how desperate some of the ultra-rich are to look even richer.”

The publication also accused Jenner and her company of “creating tax returns that were likely forged,” which elicited a response from the beauty mogul.

"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 tweeted.

The businesswoman hit back: "'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."

The reality TV star also noted that she could "name a list of 100 things more important right now than fixating on how much money i have."

She also assured Forbes and fans that "i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine."

Forbes faced plenty of backlash when Jenner topped the billionaire list particularly taking issue with the claim that she was "self-made." Many argued it was inaccurate because of her family's wealth and status.

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