In 2020, Kylie Jenner faced a firestorm of controversy when Forbes magazine accused her of providing misleading information about her wealth.
The previous year, Forbes had bestowed upon the then-21-year-old Kylie the title of "youngest self-made billionaire" in an article by Natalie Robehmed.
This accolade triggered widespread debates, particularly regarding Forbes's use of the term "self-made," considering Kylie's privileged upbringing as part of the wealthy Kardashian/Jenner family.
The surge in Kylie Cosmetics' value came after the young entrepreneur sold a 51% stake in her business to the multinational beauty company Coty in November 2019.
This transaction valued her brand at a staggering $1.2 billion, effectively confirming Forbes's designation of her as a billionaire.
The contentious Forbes article sparked ongoing discussions about the true essence of being "self-made" and raised questions about the influence of Kylie's prominent family background on her success.
As the controversy unfolded, the authenticity of Kylie's billionaire status was called into question, leading to further scrutiny of the business magnate's financial claims.
Forbes expressed doubts about Kylie's reported earnings, stating that her actual income was "much smaller" than what she had claimed.
Previously, Kylie had asserted that her makeup brand, Kylie Cosmetics, had achieved an astounding $300 million in sales within a single year, but Forbes questioned the authenticity of these figures.
Responding to the controversy, Kylie vehemently denied Forbes's allegations and defended her integrity on social media.
In a series of tweets, she expressed her disbelief at the accusations and refuted any involvement in dishonest practices regarding her wealth or business.
She maintained that she had never sought any titles or resorted to deception to enhance her status.