While Forbes declared her to be the youngest billionaire entrepreneur in the world in history in 2018, dethroning Facebook founder Mark Zuckerberg, here comes the economic magazine after investigating it. Kylie Jenner is no longer a billionaire and she and her family have plotted for years to increase the value of her Kylie Cosmetics business before selling it in part.

Forbes reports that after looking at Coty, the beauty giant who bought 51% of the Kardashian-Jenner’s youngest business for $ 600 million in November, he concluded that Kylie Cosmetics is “significantly smaller and less profitable than the family has led the cosmetic industry and the media to believe for years.”

The magazine says that the family, particularly popular for its reality show Keeping Up With the Kardashian, was desperate to do anything to prove that it was rich, even to invite their journalists “into their mansions, and accounting offices and even up to create tax returns that may have been tampered with. ”

Forbes first details in his investigation how Kylie Jenner made her fortune, then explains her calculations to elaborate her previous lists of the richest people, in which the star appeared for a few years, by emphasizing that several experts and analysts pointed out incongruities in the statements and calculations of the Kardashian family.

Several of them therefore believe that Coty paid far too much for the business of the 22-year-old woman. Especially since everything indicates that Kylie also lied about the net margins resulting from the sale of its products, lowering the profitability of the company.

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Kris Jenner, Kourtney Kardashian, Khloe Kardashian and Kim Kardashian West
Kris Jenner, Kourtney Kardashian, Khloe Kardashian and Kim Kardashian West

If the current value of Kylie Cosmetics has not been revealed, the magazine believes that Kylie Jenner is definitely no longer a billionaire, despite the transaction with Coty, and especially because of the health crisis linked to COVID-19. Perhaps it never would have been or only very briefly. Its assets are currently valued at just under $ 900 million.

In the early afternoon, Kylie Jenner finally responded to accusations on Twitter by saying that she had “NEVER” lied to access this status nor had she ever asked for the title of the youngest billionaire entrepreneur in the world, barking the passage Reputation of Forbes magazine for its “unproven claims”.

She added, “I can name a list of 100 more important things right now than fixing the amount of money I have. It’s literally the LAST thing that concerns me. ”