Cosmetics mogul, Kylie Jenner has dropped out of the billionaires league, Forbes reported.
Recall that Forbes had declared Kylie a billionaire since 2019.
Forbes downgraded the youngest of the Kardashian-Jenner clan after it stumbled on the filings by publicly quoted Coty, which bought 51 per cent of Kylie Cosmetics.
Kylie only pocketed $340million, contrary to reports that she pocketed $1.2billion.
Forbes also said the business is worth far less than it claimed and even less profitable.
"Based on this new information, plus the impact of COVID-19 on beauty stocks and consumer spending, Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after tax from the sale, is not a billionaire", Forbes declared.
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