While Kim Kardashian is certainly a lot richer now after she sold a stake in her KKW Beauty brand, she’s still not quite a billionaire, as Forbes points out. Earlier this week, Kanye West celebrated his wife’s supposed accomplishment by taking to Twitter to congratulate her on this milestone. “I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire,” he wrote. “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.”
Dimitrios Kambouris/Getty Images for ULTA Beauty / KKW Beauty
However, despite his claims, Kim has not reached billionaire status just yet. Forbes clarified that while KKW Beauty is now valued at $1 billion, Kim’s personal worth is just $100 million short of that number.
Her financial gains came after the makeup mogul sold a 20% stake in her KKW Beauty line for $200 million to Coty, Inc., the same company that purchased a 51% stake in Kim’s sister Kylie’s makeup brand, Kylie Cosmetics, earlier this year. Back in May, Forbes also set the record straight on Kylie’s own billionaire status, revealing that she is not, in fact, the world’s youngest billionaire after all. Kylie fired back at these assertions by calling out the publication for their “inaccurate statements and unproven assumptions” in the piece. However, Forbes insisted that she’d forged documents to make it appear as though her company was worth more than it was, and recommended she check the facts again.
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Author: Lynn S.