Kylie Jenner no longer world's youngest billionaire: Forbes' explosive report makes shocking claims

Kylie Jenner has found herself embroiled in a fresh new controversy, after Forbes dropped her off the list of world's youngest billionaire, mentioning inaccuracies in an explosive report titled Inside Kylie Jenner's Web of Lies — And Why She's No Longer a Billionaire.

According to Forbes, the makeup mogul's brand is not as wealthy as it was shown to be and that she and her team might have been inflating the success of their profits, and forging taxes reportedly.

Kylie, responding to the claims made by Forbes, said in a statement, "What am i even waking up to. i thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period," she wrote on Twitter.

Meanwhile, Kylie's legal attorney Michael Kump stated, "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. It is sad that, of all things, Forbes has devoted three reporters to investigate the effect of the coronavirus crisis on Kylie’s net worth. We would not expect that from a supermarket tabloid, much less from Forbes."

In the explosive piece published on Friday, Forbes noted, "The documents, despite looking authentic and bearing Kylie Jenner’s signature, weren’t exactly convincing since the story they told, of e-commerce brand Kylie Cosmetics growing from nothing to $300 million in sales in a single year, was hard to believe."

The magazine concluded saying that Kylie's cosmetics business was "never that big to begin with" and that the family has "lied about it every year since 2016."

"While we can’t prove that those documents were fake (though it’s likely), it’s clear that Kylie’s camp has been lying," the outlet said in its report.