Kim Kardashian has sold 20% of her stake in her company KKW Beauty. The sale has been made to beauty brand, Coty. Do you know how much the transaction was worth? It was done for USD 200 million on June 29.
This makes the Reality TV star and beauty mogul’s net worth skyrocket to a mammoth USD 900 million. This has of course, been estimated by wealth brand, Forbes.
Kim’s brand, KKW Beauty has been estimated to be valued at $1 Billion. The sale will reportedly be complete by 2021. It will leave Kim as majority owner with a 72%.
As per Coty, Kim’s new role will be “responsible for creative efforts while Coty will focus on expanding product development outside the realm of color cosmetics.”
The news about Kim Kardashian’s new billionaire status comes right a few weeks after Kylie Jenner’s fallout with Forbes Magazine.
Kanye West gushed over Kim achievement. He said,”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.“