Kim Kardashian is officially a billionaire
30 June 2020, 17:15
Kim, lend us a tenner?
Kim Kardashian is officially a billionaire… well, almost. The Keeping Up With The Kardashians star has confirmed she's made a deal with global makeup company Coty for a stake in her beauty brand KKW Beauty.
Coty will reportedly get a 20% stake in KKW Beauty, which will be worth $200m (£160m). This means her brand will become valued at $1bn (£800m) in a deal which is set to close later this year. And if you remember, Coty now owns 51% of Kylie Cosmetics, Kim's sister Kylie Jenner's own makeup brand already.
"This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world," Kim said in a statement.
View this post on Instagram
We are thrilled to welcome one of the most influential beauty icons to the Coty family: @kimkardashian West! 😍 With Kim’s influence and our deep expertise in prestige beauty we will build a beauty powerhouse and enter new beauty categories together. #Coty #CotyInc #Beauty
Meanwhile Coty made an announcement of their own over on Instagram: "We are thrilled to welcome one of the most influential beauty icons to the Coty family: @kimkardashian West! With Kim’s influence and our deep expertise in prestige beauty we will build a beauty powerhouse and enter new beauty categories together."
Kim's husband Kanye West congratulated his wife on her new found wealth in a bizarre Twitter post, which read: "I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire. You’ve weathered the craziest storms and now God is shining on you and our family. So blessed this is still life. So I made you this still life. We love you so much." Must be nice.
I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire— ye (@kanyewest) June 30, 2020
You’ve weathered the craziest storms and now God is shining on you and our family
So blessed this is still life
So I made you this still life
We love you so much pic.twitter.com/Vvtgzodnah
She's not the only billionaire in the family, though… or is she? Kylie was controversially named the world's youngest billionaire back in 2019 aged just 21. That was until Forbes claimed that Kylie "inflated the size and success of her business for years" in an article titled ‘Kylie Jenner's Web Of Lies and stripped her of her billionaire title. Awks…
Anyway, Kylie hit back at the "inaccurate statements and unproven assumptions" in the Forbes article insisting she had never asked for her billionaire status.
Whatever the truth is, they're both still stinking rich.