In a shocking new report, the outlet claimed that Jenner isn’t as rich as she led the world to believe and has been lying about her fortune this entire time. While the explosive exposé has since caused tension between the makeup mogul and Kris Jenner, it’s also raised concern amongst the Kardashian sisters who are worried Jenner could put herself in a hole if she doesn’t ease up on her spending habits.
Forbes alleged Kylie Jenner faked her billionaire status
Amid a global pandemic and nationwide protests, Kylie Jenner found herself in the middle of a major controversy no one saw coming.
On May 29, Forbes published a scathing exposé entitled, “Inside Kylie Jenner’s Web Of Lies — And Why She’s No Longer a Billionaire,” which accuses the youngest Jenner sibling of lying about her wealth and forging official tax documents.
The bombshell report claims that Jenner and her mother inflated the success of her beauty company, Kylie Cosmetics. It also alleged that the makeup mogul isn’t as well-off as she has led everyone to believe.
“Kylie’s business is significantly smaller, and less profitable than the family has spent years leading the cosmetics industry and media outlets,” the report reads.
The outlet also revoked the Keeping Up With the Kardashians star’s billionaire status, saying that she is now worth less than $900 million after factoring Kylie Cosmetics’ revenue in public filings and the economic effect the COVID-19 pandemic has had on the beauty industry.
“Forbes has recalculated Kylie’s net worth and concluded that she is not a billionaire,” the outlet writes. “A more realistic accounting of her personal fortune puts it at just under $900 million.”
The situation has caused tension between Kylie and Kris Jenner
It wasn’t long after Forbes published the explosive report that Jenner took to Twitter to issue a fiery response denying the outlet’s accusations.
“What am i even waking up to,” she tweeted. “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. 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.”
Though she hasn’t commented on the situation beyond that, sources recently revealed that the drama surrounding Jenner goes beyond her issues with Forbes.
According to insiders, tensions are currently at “an all-time high” between Jenner and momager, Kris Jenner.
“Kris—who reportedly gets ten percent of Kylie’s deals–is in panic mode,” a source told The Sun. “Kylie won’t answer the phone for Kris and is at a loss over who to trust. Kris is petrified Kylie could sack her or cut her off so tensions are at an all-time high. Kris and Kylie are freaking out and fear that this is going to hurt their brand, and even worse, they could be in trouble with the government.”
Kylie’s spending has the Kardashians worried
While the Kardashian sisters haven’t weighed in yet on the Jenner/ Forbes drama, insiders claim that the reality stars are worried about the makeup mogul’s finances.
According to Page Six, the reality stars are concerned about their little sister’s spending, especially since she reportedly dropped over $130 million in the past year alone.
“Kylie’s sisters are concerned about her spending,” a source shared with the outlet. “Yes, she’s got a lot of money — but she doesn’t seem to realize how easy it is to blow through all of it.”
In addition to spending an estimated $50 million to $70 million on private jets, Jenner has also dished out a staggering amount of money on her Holmby Hills home (which she bought for $36.5 million in April), two vacant plots of land, as well as her two-year-old daughter’s ‘Stormi World’ birthday bash.
She’s even showered friends, family, and herself with lavishly expensive gifts and has also donated millions to various charities.