Kim Kardashian Becomes Billionaire After Selling $200 Million Stake In KKW Beauty
30 June 2020, 10:08
Kim Kardashian has joined sister Kylie Jenner and husband Kanye in becoming a billionaire after selling a $200 million stake in KKW beauty which values her company at a billion dollars.
Kim Kardashian has been initiated into the billionaire club by husband Kanye West after selling a 20% stake in her cosmetics line KKW, for $200 million, which values the company at a billion dollars, and her net worth around $900 milliion.
The deal will leave Kim the majority shareholder and with creative control, but with the ability to expand the company thanks to beauty giant, Coty.
Coty chairman and CEO Peter Harf called Kim a 'true modern-day global icon' said in a statement, and it is the same company Kylie sold 51% of Kylie Cosmetics to.
Kim, 39, has achieved her billionaire status a year after Kylie, 22, bagged the cover of Forbes and was declared the youngest 'self made' billionaire, which needless to say, raised more than a few eyebrows.
It has also since been claimed Kylie is not actually a billionaire, with Forbes even accusing the make-up mogul of inflating her wealth in financial records shown to them.
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
Kanye got lightly trolled, as he often does, for congratulating his wife on the milestone by posting a photo of a pepper, as in, the actual vegetable a pepper, in his gushing message to Kim.
We're sure there's some deeper meaning behind it us normal mortals could never wrap our heads around.
He wrote alongside the artsy (?) shot: "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."
In April 2020, Forbes gave Kanye the cover of their magazine and declared him a billionaire, having grown the majority of his fortune from his fashion and sneaker line, Yeezy.