(Image: Forbes/Rex)

Kylie Jenner fumes over Forbes' fake billionaire claims: "What am I reading?"

The lip kit mogul responded to a damning article from Forbes that claimed she'd 'spun a web of lies' and 'forged' tax returns to make it look like she had more money than she has


Kylie Jenner has unleashed a furious response at Forbes who have called into question her title as a 'self made billionare.'

In January the lip kit mogul sold 51 per cent of her Kylie Cosmetics brand to beauty giant Coty in a deal with $1.2billion.

Ahead of her 21st birthday Kylie was invited to take centre stage on the front cover of Forbes' money issue as they praised her business acumen and incredible accomplishment at reaching the milestone billionaire status at such a young age.

However in an article published today, the publication made a u-turn and accused Kylie of spinning a 'web of lies' to inflate her success.

The piece entitled 'Inside Kylie Jenner's web of lies and why she's no longer a billionaire' claims Kylie 'lied about her company figures and forged tax returns.'

Kylie has now given her furious response.
Kylie Jenner appeared on the front cover of Forbes(Image: FORBES/JAMEL TOPPIN)

Taking to Twitter she ranted: "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."

Not stopping there, Kylie quoted from the Forbes article: "'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."

Kylie continued on to say she was putting the drama behind her and focusing on what's important.
Kylie has now responded to the claims(Image: kyliejenner/Instagram)

"But okay i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine," she quipped.

"I can name a list of 100 things more important right now than fixating on how much money I have," she added.

After the Twitter rant a bemused fan asked the make-up mogul: "This is what you're worried about right now?"

"This is literally the LAST thing I'm worried about right now," Kylie clapped back.

In their latest article about the Keeping Up With the Kardashians star's financs, Forbes compiled various pieces of evidence that have led it to the conclusion that Kylie's been telling fibs.
Kylie Jenner shows fans how to recreate her look using Kylie Cosmetics(Image: BACKGRID)

The magazine has dealt a good deal with Kylie (as well as her sister Kim) as front cover stars, meaning they had access to the accountant behind Kylie Cosmetics.

Shown tax returns, they saw that 2016 revenues were an impressive $307 million, with Kylie's personal income sitting at a cool $110 million.

The accountant reportedly told that this would place Kylie on Forbes' Celebrity 100 List at the number two spot, just behind leader Taylor Swift.
Kylie shared her furious response to the Forbes piece(Image: Twitter)
She questioned where the magazine had got their facts from(Image: Twitter)

Forbes weren't convinced, though, claiming a rise for Kylie Cosmetics from nothing to $300 million - in one year - seemed a bit of a stretch.

Then a landmark deal was announced with beauty giant Coty announced purchasing 51% of Kylie Cosmetics, at the price of $600 million - this would value the business at around $1.2 billion.

The move appeared to solidified Kylie's membership of the billionaire's club.
Kylie made a fortune out of her insecurities when she launched the lip kit range(Image: YouTube/kyliecosmetics)

Financial analysts, however, had questions.

It seemed a strange move, they asserted, for Coty to spend that much money on a company whose popularity could be a short-lived "fad", as Forbes puts it.

There's also the case of Kylie's financials in the year prior to the deal - Coty's presentation revealed them as $177 million, which they said was up 40% from 2018, placing that year's financials around $125 million.

Forbes alleges that this was "nowhere near the $360 million the Jenners had led Forbes to believe."

They present two possibilities for the alleged irregularities - the business fell by more than 50% in a year, meaning Coty had splashed out on a "high-growth brand", or Kylie hasn't been telling the truth about the business's since 2016.
Forbes have called into question Kylie's fortune(Image: Instagram)

They continue to say that the former seems unlikely - citing industry experts who said that quick of a fall seemed a stretch.

Forbes continues: "More likely: the business was never that big to begin with, and the Jenners have lied about it every year since 2016 - including having their accountant draft tax returns with false numbers - to help juice Forbes' estimates of Kylie's earnings and net worth.

"While we can't prove that those documents were fake (though it's likely), it's clear Kylie's camp has been lying."

Jeffrey Ten, who's spent years in the cosmetics business, said: "You have to remember they are in the entertainment business.

"Everything in entertainment has to be exaggerated to get attention."