Kylie Jenner has been officially dropped from the Forbes billionaires list.
The 23-year-old reality TV star, model, and influencer was removed from Forbes's 35th annual billionaire list after being erroneously named by the publication as the world's "youngest self-made billionaire" two years ago.
Following the magazine's hasty pronouncement, which was contested by a number of critics, Forbes conducted a more scrupulous report into the Keeping Up With The Kardashians star's finances this year.
In June of 2020, Forbes released a follow-up report claiming that Jenner had faked her way to billionaire status thanks to a number of bogus tax returns.
As of May 2020, Forbes estimated Kylie Jenner's net worth at the more modest figure of $900 million, as opposed to the $1 billion figure cited previously.
In response to the accusations of phony accountancy, a spokesperson representing Kris and Kylie Jenner issued a formal letter to Forbes, which read:
"The accusations that the Jenners, and/or their accountants, falsified tax returns and then lied about their 2016 revenues for the last four years, are absolutely false."
This bombshell comes the same week that Kylie's half-sister and fellow KUWTK cast member Kim Kardashian was declared a billionaire herself by Forbes.
The publication reports that 40-year-old Kim is currently worth a whopping total of $1 billion, up from $780 million in October.
As a businesswoman, model, influencer, and wife of Kanye West, Kim's astronomical financial profits have been pinned on her two lucrative businesses, KKW Beauty and Skims.
Her estate has also earned cash from her family's reality show, social media sponsorship, and endorsement deals, as well as a number of other savvy investments.
Forbes reports that Kim managed to earn herself a further $200 million after selling approximately 20% of KKW Beauty to Coty.
She first founded the KKW Beauty cosmetics brand back in 2017, following the success of Kylie Jenner’s own personal brand, Kylie Cosmetics.
Kim's first launch of 300,000 contour kits was sold out within the first two hours of launch, and her business went on to generate over $100 million in revenue in the space of a year.
However, only time will tell if Kim's billionaire status will last.
