Forbes magazine denies reports that Kim Kardashian has joined billionaire’s club
Forbes magazine has denied claims by rapper Kanye West that his socialite wife Kim Kardashian is now a billionaire.
This after Coty Inc. acquired a 20% stake in the socialite’s KKW beauty franchise for $200 million.
According to Forbes, the deal pushed the socialite to close a billion mark with her net worth currently being estimated to be about $900 million.
Early last week, the 39-year-old reality star’s husband bragged about his wife’s newly-acquired billionaire status.
“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,” Kanye said via social media.
Although Kim is not a billionaire yet, she is now slightly above her younger sister Kylie Jenner, 22, who Forbes hailed as a self-made billionaire in 2019 and 2020 only to strip her of the title in May this year, accusing her of inflating business figures and forging tax returns.
With the sale of the 20% stake, Kim is still the majority shareholder of her KKW beauty company that sells make-up and fragrances.
She holds 72% stakes with her mother Kris Jenner owning an 8% stake.