Cosmetics mogul Kylie Jenner has reportedly had a fall out with her mother and manager, Kris Jenner, after the controversial Forbes article on her self-made billionaire status.
The 22-year-old is said to be furious with her mother and is refusing to take any of Kris Jenner's calls after Forbes revealed that the reality star might have forged her tax filings.
A tipster told The Sun, "Kris - who reportedly gets 10% of Kylie's deals - is in panic mode."
"Kylie won't answer the phone for Kris and is at a loss over who to trust."
The tipster further claimed that the Kardashian-Jenner matriarch is "petrified that Kylie could sack her or cut her off, so tensions are at an all-time high."
Since 2018, Kylie Jenner has been given the title "world's youngest self-made billionaire," thanks to her beauty brand, Kylie Cosmetics, which she launched in 2015.
Selling Lip Kits for $29 and adding more products, shades, and collaboration, the mother of one's popularity and net growth, have also grown exponentially.
From her long list of makeup products to a whole new skincare line, Kylie Jenner has been able to carve out a name for herself in the beauty industry.
The term "self-made" didn't roll out with many people, but nobody has questioned the net worth of Kylie Jenner until now.
In a shocking expose, Forbes magazine claimed that the Kylie Cosmetics founder has "inflated the size and success of her business for years," and they have determined that she's not a billionaire.
Reporters Chase Peterson-Whithorn and Madeline Berg claimed, "Forbes has recalculated Kylie's net worth and concluded that she is not a billionaire."
The further alleged that the "Keeping Up with the Kardashian" star'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 business magazine also claimed that the Kardashian-Jenner family has always gone to unusual lengths to prove how wealthy Kylie Jenner was. In the past, Forbes has reportedly been invited "into their mansions and CPA's offices, and even creating tax returns that were likely forged."
Forbes previously labeled Kylie Jenner as the youngest self-made billionaire in 2019 and was able to maintain the status in 2020, even after selling 51% of her shares on Kylie Cosmetics to beauty giant, Coty, in a deal which was valued at $1.2 billion.
Kylie Jenner, however, slammed Forbes' claims.
She took to Twitter to air out her frustrations, calling it just a "number of inaccurate statements and unproven assumptions."
"I've never asked for any title or tried to lie my way there EVER. Period."
The reality star also denied that she forged her tax returns, tweeting, "That's your proof? So you just THOUGHT they were forged? Like actually, what am I reading."
According to a lawyer, Kylie Jenner could potentially face "serious jail time" if she submitted false tax filings to the IRS.
Speaking to The Sun, criminal defense lawyer Adam Michael Sacks revealed that forging documents is a serious offense.
"it's very hard to believe someone at her level would risk major tax fraud. It's all about vanity for her as it is for a lot of people who reached for the title of a billionaire."