Kim Kardashian West has turned into quite the businesswoman. The reality TV star is on track to be the first billionaire of the Kardashian-Jenner clan.
In a new report by Forbes, the 39-year-old media personality is now worth $900 million after selling a 20% stake in her KKW Beauty for $200 million to the multinational beauty company Coty, the same company that purchased a majority stake in Kylie Cosmetics last year. The deal values the brand at $1 billion and emphasized the brand’s social media appeal. Along with KKW Beauty, the mogul also owns her own shapewear brand Skims and a mobile game “Kim Kardashian: Hollywood.”
Frazer Harrison/Getty ImagesThis would make Ye’s wife the first real Jenner-Kardashian billionaire following a report by Forbes’ published in May revoking the billionaire title from Kylie, accusing the star of inflating her wealth and estimating her real net worth to be around $900 million.
“Kim is a true modern day global icon. She is a visionary, an entrepreneur, a mother, a philanthropist, and through social media has an unparalleled ability to connect with people around the world,” raved the Coty Chairman and Chief Executive Peter Harf in a statement about the deal. “This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”
The deal will allow the company to develop new products with Kardashian including upcoming KKW Beauty skincare, hair and nail brands. Harf told investors earlier this month that he and Kris Jenner, the Kardashian-Jenner matriarch, are “good friends,” resulting in the company being able to ink the deal. If Kimmy becomes a billionaire, both her and husband Kanye West would have achieved billionaire-status.