Forbes published a shocking story this week that claims Kylie Jenner isn't a billionaire after all. In response, the Kylie Cosmetics founder had her legal team go after the site to demand that they retract the story, saying it was "filled with outright lies."
As Page Six reports, Jenner's attorney -- Michael Kump -- made a statement slamming the article.
"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," the lawyer said. "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."
As The Inquisitr previously reported, Forbes published a bombshell report saying that Jenner used faked tax returns to make it appear that she was worth more than she really is. The site essentially retracted her status as the world's youngest-ever self-made billionaire, a controversial title that she was granted last year.
Forbes said that the makeup mogul's business was smaller and less profitable than she had claimed.
Jenner launched her cosmetics empire in 2015 before selling 51 percent stake in the company to Coty for a reported $600 million.But Forbes said that the numbers were inflated and that sales weren't what people had been led to believe. It noted that in the year before being sold to Coty, the company had $177 million in sales, and $125 million in 2018, far less than the $360 million she reported.
The Forbes article was careful to spell out that the company could have seen a significant reduction in sales in recent years, but suggested that it was more likely that the numbers were never as high as the Keeping Up with the Kardashians star has claimed they are.
The magazine reported that they had recalculated her wealth and determined that she was never a billionaire as she claimed to be.
Jenner shot back at the magazine in a series of tweets, saying that the article was inaccurate and made a number of unproven assumptions. She told fans that she was shocked to wake up to the news and was surprised to read that the site was claiming she had "likely" forged tax documents.
"It is sad that, of all things, Forbes has devoted three reporters to investigate the effect of the coronavirus crisis on Kylie's net worth," Kump said. "We would not expect that from a supermarket tabloid, much less from Forbes."
Forbes replied that they stood by their reporting and spent months being certain that they had uncovered the facts.