No, that is not true anymore. As of December 2018, Beyonce is listed as the 8th most followed account on Instagram. The other accounts which have higher follower counts include Cristiano Ronaldo with 149 million, Selena Gomez with 144 million, Ariana Grande with 141 million, Dwayne "the rock" Johnson with 126 million, Kim Kardashian with 123 million, Kylie Jenner with 122.7 million, and Instagram itself with 272 million (which is the number one most followed account). Beyonce has 122 million, just 700,000 followers shy of being in 7th place over Kylie Jenner. This is pretty good if you consider that she has not released any hit songs in a little while.