Kris Jenner is reportedly “freaking out” after Forbes magazine, which twice named Kylie Jenner as the world’s youngest self-made billionaire, exposed her daughter as an alleged financial fraud.
Forbes magazine claimed on Friday that the youngest of the Kardashian-Jenner family “inflated the size and success of her business for years.” Kylie and her mother are reportedly nervous about potential damage the report could do to the well-established Kardashian/ Jenner brand.
“Kris and Kylie are freaking out and fear that this is going to hurt their brand, and even worse, they could be in trouble with the government,” a source told the Sun.
The insider also alleged that the duo was “definitely worried” about the legal and social fallout, after being accused of deceptively inflating the value of Kylie’s beauty company, Kylie Cosmetics.
“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 report stated.
Kylie Jenner fired back on Twitter, writing — “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.”
Michael Kump, Kylie Jenner’s lawyer, issued a statement on Friday, demanding a retraction from the publication.
“We have reviewed Forbes’ article accusing Kylie of engaging in deceit and a ‘web of lies’ to inflate her net worth. The article is filled with outright lies. 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.”
Forbes has recalculated the Keeping Up with the Kardashians personality’s net worth at just under $900 million.