Forbes has named Kylie Jenner the world's highest-paid celebrity in the year 2020, but has not restored her billionaire status despite being approached by her lawyers.

Kylie Jenner earned several accolades last year when Forbes declared her the "world's youngest self-made billionaire" at the age of 21. However, the finance magazine published a controversial report last week saying that the makeup mogul is not a billionaire as it previously declared, and even alleged that the celeb and her accountants "forged tax returns."

"Inside Kylie Jenner's Web of Lies — And Why She's No Longer a Billionaire," the report was titled, to which Kylie Jenner responded by saying she "never asked for any title or tried to lie" her way over there. However, as the two teams argue over the authenticity of the explosive report, Forbes released its annual list of world's 100 highest-paid celebrities, in which it included Kylie but mentioned her last year's earnings in millions instead of billions. The list dubbed Kylie and her brother-in-law Kanye West as the top-earning celebrities.

"The top-earning celebrities were Kylie Jenner and Kanye West​, who brought in $590 million and $170 million, respectively. West collected most of his ​earnings from his Yeezy sneakers deal with Adidas, while Jenner's payday came from selling a 51% stake ​in her cosmetics firm to Coty in January," the report reads.

The magazine targeted the 22-year-old over her alleged billionaire status in this report as well, and stated about her Coty deal: "While she had exaggerated over the years about the size of her business, the money she pulled in from the deal was real--enough to rank as one of the biggest celebrity cashouts of all time."

Kylie Jenner
Kylie Jenner attends Harper's Bazaar's celebration of 'ICONS By Carine Roitfeld' Getty

Kylie and Kanye West are followed by athletes Roger Federer, Cristiano Ronaldo, and Lionel Messi, then Tyler Perry, Neymar, Howard Stern, LeBron James and Dwayne "The Rock" Johnson in the top 10 list. Forbes mentioned that the combined $6.1 billion (tax and fees included) earning of the world's highest-paid celebrities in 2020 is a $200 million drop from 2019 due to coronavirus pandemic and the subsequent lockdowns.