No one expected for Forbes to write a lengthy exposé about their own report regarding Kylie Jenner and her billionaire status, yet, here we are. In March 2019, Forbes wrote an article about the cosmetics mogul, declaring Kylie Jenner the youngest self-made billionaire. The declaration was met with backlash as people argued whether or not she was actually "self-made," but Forbes trudged on with their assertation and the 22-year-old wore her crown proudly.
Then, on Friday (May 29), Forbes lit up social media channels after sharing an article with accusations that Kylie Jenner and her mom-ager, Kris Jenner, weren't being truthful about the amount of money that the mogul made. "In November 2019, Jenner announced she would sell 51% of Kylie Cosmetics, the makeup brand she founded and built up via Instagram and social media, to beauty giant Coty," Forbes wrote in their more recent report. "That deal valued Kylie Cosmetics at nearly $1.2 billion, and seemed to back up Forbes’ calculations that she was a billionaire. But public filings from Coty since then revealed discrepancies between the business’ real performance and what the Jenners had previously shared with Forbes and other publications."
Following their report, Kylie blasted the outlet on social media and a lawyer for the star demanded that they retract their article. Forbes bit back, and they're standing by their findings. “Today’s extensively-reported investigation was triggered by newly-filed documents that revealed glaring discrepancies between information privately supplied to journalists and information publicly supplied to shareholders. Our reporters spotted the inaccuracies and spent months uncovering the facts. We encourage the attorney to re-read the article.”
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