- Coty recently acquired a 20% stake in KKW Beauty for $ 200 million.
- Kanye West turned to Twitter to congratulate Kim Kardashian on the deal and called her “billionaire.”
Earlier this week, Kanye West publicly congratulated his wife Kim Kardashian “for officially becoming a billionaire” after Coty acquired a 20% stake in KKW Beauty for $ 200 million (£ 160 million). But it seems the rapper might have been a bit premature with his message, as Forbes just pointed out that Kim isn’t really a billionaire … yet.
While the Coty deal values KKW Beauty at a staggering $ 1 billion after just three years of operation, they say that because Kris Jenner owns 8% of the business, Kim (who is the majority owner with a stake in the 72%) is not really a billionaire.
However the keeping up with the Kardashians star is still worth around $ 900 million, which doesn’t sound too bad to us.
Karwai Tang / Getty
When the deal was announced, Kanye turned to Twitter to yell at his wife and wrote, “I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire. You have endured the craziest storms and now God is shining down on you and our family. How blessed is this still life. So I made you this still life. We love you very much. “
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Of course, this all happens after Forbes claimed that Kylie Jenner had inflated her net worth and stripped the reality star of her billionaire status.
Kylie later responded to the report, insisting that she never claimed her alleged billionaire status and said she has more important things to ‘fix’ than how much money she has.
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