According to editors at the publication, the Kylie Cosmetics make-up mogul grossly inflated the value of her company in doctored tax documents to swindle herself onto the magazine's prestigious billionaires list. She has repeatedly denied the allegations.
Kylie's worth was later estimated to be under $900 million and the damning revelation has impacted other aspects of the star's business - including her earnings from Instagram.
Bosses at Instagram scheduling tool, Hopper HQ, have released its annual Instagram rich list, which revealed the 22-year-old has been knocked off the top spot by "Jumanji: The Next Level" star Dwayne after earnings for his posts rocketed by 15 per cent over the past year.
The former wrestler can now scoop more than $1 million for his uploads while the amount Kylie rakes in is said to have dwindled by 22 per cent over the same 12 month period.
It's the first time in four years that a Kardashian or Jenner has not dominated the list.