- Forbes announced that Kim Kardashian is not a billionaire days after her hubby broke the news on social media
- According to the publication, she is close with an estimated nett worth of $900 million, which puts her slightly above her sister Kylie Jenner
- It reported that the deal which is set to close in the third fiscal quarter of 2021 will leave majority owner Kim with a 72% stake, but as her mother Kris Jenner owns 8%, it has prevented her from attaining true billionaire status
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Days after rapper Kanye West took to social media to celebrate his wife's billionaire status, Forbes has announced that Kim Kardashian is not yet a billionaire.
Kim sold a 20% stake in her make-up business KKW Beauty to Coty COTY for $200 million.
According to Forbes, Kim is close though now estimated to be worth about R15.2 billion ($900 million), which puts her slightly above her sister Kylie Jenner.
Forbes reported that the deal, which is set to close in the third fiscal quarter of 2021, will leave majority owner Kim with a 72% stake, but as her mother Kris Jenner owns 8%, it has prevented her from attaining true billionaire status.
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Coty, which acts as a licensee for skin, hair, personal and nail products, bought a 51% stake in Kylie Jenner's company in 2019.
The 22-year-old Kardashian had been hailed a 'self-made billionaire' by Forbes in 2019 and 2020 but in May they stripped her of the title, accusing her of inflated business figures and 'forging' tax returns.
Briefly.co.za reported in a post shared by Kanye on Twitter on Monday, June 29, the father of four bragged about his wife's saying she had withered a lot of storms.
"I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire. You have weathered the craziest storms and now God is shining on you and our family. So blessed this is still life," wrote the rapper.
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