Forbes’ revelation that 22-year-old cosmetics mogul Kylie Jenner had exaggerated her wealth in the tax documents she provided to Forbes—with new calculations showing she isn’t a billionaire—sparked a fiery response from Jenner. Forbes—having previously named Jenner the world’s youngest self-made billionaire—released its findings on Friday after a months-long investigation into her finances. Public filings from Coty, which acquired a 51% stake in Kylie Cosmetics earlier this year, revealed that Jenner’s business was significantly smaller and less profitable than she had led Forbes to believe. Jenner quickly responded on Twitter, denying that she had misrepresented her business’ financials: “i’ve never asked for any title or tried to lie my way there EVER. "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," Jenner’s attorney Michael Kump told People in a statement.

Source: Forbes May 29, 2020 22:30 UTC