There's whispers of a new billionaire out there, and it just so happens to be a member of the Kardshian-Jenner clan! Kim Kardashian West has sold a 20 percent stake of her beauty company KKW Beauty to Coty, Inc. for $200 million, prompting her husband, Kanye West, to congratulate her on social media.
Kanye Celebrates The Success of His Wife, Kim Kardashian West!
I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire You’ve weathered the… https://t.co/OL0mfu6jaF— ye (@ye)1593478136.0
Kanye tweeted out a sweet message to congratulate his wife on her career news along with a symbolic photo of her success. Kardashian West addressed the news in her own post, noting how grateful and blessed she is to have come this far in her career. West, a billionaire himself, claimed the title back in April due to the success of his Yeezy line.
Kardashian West's decision to sell a stake of her company to Coty comes after her younger sister, Kylie Jenner, sold a 51 percent stake of Kylie Cosmetics to the same company for $600 million back in November of 2019. This sent Jenner to become the youngest self-made billionaire for that year.
In a statement from Kardashian West about her latest career move, she says:
"Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand. This relationship will allow me to focus on the creative elements that I'm so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world."
While West congratulated his wife on her new billionaire status, Forbes estimated on June 29 that Kardashian West's net worth is just shy of billionaire status and currently stands at $900 million. Still, this is a huge step for the reality TV star and businesswoman in officially become a billionaire in the future!
To read more about the Coty, Inc. acquisition of KKW Beauty, click here.
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