Kylie Jenner may have blown her billionaire status by spending more than US$130 million ($206 million) on a huge private jet and multiple monster real estate deals in recent months.
On Friday, Forbes published a bombshell report stripping Kylie, 22, of her “youngest ever self-made billionaire” title, claiming she faked tax returns and used a “web of lies” to boost her net worth.
The business mag said the makeup mogul is now worth less than US$900 million after factoring Kylie Cosmetics’ revenue in public filings and the economic effect of coronavirus on the beauty industry.
Her lawyer, Michael Kump, countered the story is “filled with outright lies … Forbes’ accusation that Kylie and her accountants ‘forged tax returns’ is unequivocally false.”
Meanwhile, according to US news outlet Page Six, the mother-of-one has been spending up large. According to a source, in the months before the pandemic Jenner spent an estimated US$50m-US$70m ($79m-$111m) on a Global Express Jet.
It’s believed she had the aircraft fitted out “in the theme of daughter Stormi’s birthday”.
In April, Kylie also bought a massive US$36.5m ($58m) estate in Holmby Hills, California, plus a US$15m vacant plot of land next to her current home in Hidden Hills, and hired Tom Brady’s architect Richard Landry to build a new house.