The 22-year-old founder of Kylie Cosmetics has been accused of spinning a “web of lies” and inflating the value of her company
Kylie Jenner isn't a billionaire, after all, Forbes magazine said on May 29 as it accused the reality TV star's family of "inflating the value of her cosmetics business for years."
Forbes declared the 22-year-old a billionaire in March 2019 owing to the popularity of her Kylie Cosmetics brand but has removed her from their list, citing new information.
Jenner sold a 51 per cent stake in her brand to beauty giant Coty in January for US$600 million in a deal that valued the company at US$1.2 billion.