Kylie Jenner lost the title of the youngest billionaire in the world after she allegedly falsified data about her wealth, Daily Mail reports.
The 22-year-old reality star is accused in the latest Forbes report that she lied about the acquired wealth and that she forged tax returns in order to increase her net worth.
It was this reputable business magazine that last year named her the youngest billionaire in the world, who acquired her wealth on her own, thanks to the sale of Kylie Cosmetics’ line of makeup and cosmetics.
Forbes now believes that Kylie Jenner, even after earning approximately $ 340 million after paying sales tax, is not a billionaire, it is stated in their latest report. They accused her of lying about company data and falsifying tax returns to acquire a billionaire status.
These shocking claims came to light only a month after she found herself on their cover.
Earlier this year, Kylie sold a 51% stake in her company to US cosmetics giant Coty for $ 1.2 billion, but in the end, it doesn’t make her a billionaire because her business is much smaller than people believed it was.
Her deputies told the Daily Mail that her line, launched in May 2019, generated $ 100 million after the one and a half months of business, but records show that period was actually closed with only $ 25 million.
Forbes claims their new calculations estimate Kylie’s fortune at just under $ 900 million.
In 2019, when she was named the youngest billionaire, she dethroned Facebook founder Mark Zuckerberg, who, until then, was known as the youngest billionaire to earn his first billion as a 23-year-old in 2008.