In 2019, Kylie Jenner was declared as billionaire by Forbes. Now, the magazine has published a story on Jenner titled as ” Inside Kylie Jenner’s Web of Lies — and Why She’s No Longer a Billionaire.”

In the article, the magazine concluded that Jenner is no longer a billionaire after examining the financial filings. The cosmetic mogul had also sold a majority share in her cosmetics company, which revealed that Jenner’s worth was inflated. Jenner sold 51 per cent of her Kylie Cosmetics company to Coty in a deal valued at $1.2 billion.

“Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe,” the publication states, alleging that Jenner has lied about company figures and forged tax returns. “Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire.”

After the news broke, Jenner responded in a series of tweets. Take a look at it below.

Forbes had featured the beauty mogul along with the headline, “At 21, Kylie Jenner Becomes The Youngest Self-Made Billionaire Ever.” On Friday, Forbes published an article with different headline: “Inside Kylie Jenner’s Web of Lies –  And Why She’s No Longer a Billionaire.” The new story states the coronavirus crisis and its effect on the cosmetics industry has hurt her net worth.