Another billionaire in the Kar-Jen family? Absolutely right.
You may recall that last year, Kim’s sister, Kylie Jenner was declared the youngest self-made billionaire by Forbes though this was recently refuted in a new article.
And, that two months ago, Forbes announced the billionaire status of Kanye West, or more accurately, “a bit over $1 billion, actually.”
Well, according to TMZ, Kim Kardashian-West closed a deal with beauty conglomerate, Coty Inc. for the sale of 20% stock in her company for a total of $200 million. This new business relationship has raised the financial value of KKW Beauty to $1 billion, per the Financial Times.
In a press release on the transaction, Coty Inc. shares it plans to expand the range of products sold at KKW Beauty. The statement reads, “Coty will have overall responsibility for the portfolio’s development in skincare, haircare, personal care and nail products, leveraging its deep understanding of the industry and its commercial and go-to-market expertise.”
On Twitter, Kanye West celebrated his wife Kim Kardashian-West for becoming a billionaire. He wrote, “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.”