Forbes magazine has struck reality TV star and entrepreneur Kylie Jenner from its list of billionaires, and accused her family of inflating the value of her cosmetics business. Forbes said the family went to "unusual lengths" to present its youngest member as richer than she was. The move reverses the status Forbes conferred on Jenner in 2019, when it declared her a self-made billionaire. Forbes, which is known for its widely cited billionaire rankings, credited Jenner's status to the success of her cosmetics company, which she founded in 2015 and which includes Kylie Cosmetics and Kylie Skin. "If Kylie Cosmetics did $125 million in sales in 2018, how could it have done $307 million in 2016 (as the company's supposed tax returns state) or $330 million in 2017?"

Source: The Star May 29, 2020 20:37 UTC