- Coty recently acquired a 20% stake in KKW Beauty for $200 million.
- Kanye West took to Twitter to congratulate Kim Kardashian on the deal, calling her a “billionaire”.
Earlier this week, Kanye West publicly congratulated wife Kim Kardashian “for officially becoming a billionaire” after Coty acquired a 20% stake in KKW Beauty for $200 million (£160m). But it looks like the rapper might have been slightly premature with his message as Forbes has just pointed out Kim’s not actually a billionaire… yet.
While the Coty deal values KKW Beauty at a very impressive $1bn after just three years in operation, they say because Kris Jenner owns 8% of the business, Kim (who is the majority owner with a 72% stake) is not actually a billionaire.
However, the Keeping Up With The Kardashians star is still worth around $900 million, which doesn’t sound too shabby to us.
As the deal was announced, Kanye took to Twitter to shout out his wife, writing: “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.”
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Of course, this all comes after Forbes claimed Kylie Jenner had inflated her net worth and stripped the reality star of her billionaire status.
Kylie later hit back at the report, insisting she never claimed her supposed status as a billionaire and said she’s got more important things to ‘fixate’ on than how much money she has.
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