Entertainment
Kim Kardashian is not a billionaire – Forbes
Days after rapper, Kanye West took to social media to congratulate his reality TV star wife, Kim Kardashian on becoming a billionaire after her deal with COTY, Forbes has come out to debunk the claims.
Forbes has reacted to reports that American TV reality star, Kim Kardashian is now a billionaire after she sold 20per cent stake of her beauty line to American multinational beauty company, COTY, for $200 million.
According to American business bi-weekly magazine, the 39-year-old reality star and mother of four is worth about $900million after inking a deal with Coty Inc. to sell a 20per cent stake in the company, which sells make-up and fragrances, for $200million.
Forbes writes that the deal values KKW Beauty at $1 billion, not that she is one yet, but close.
The outlet estimates that Kim has a 72 per cent stake in the company now (majority ownership) and that her mother Kris Jenner owns an 8per cent stake.
-
News23 hours ago
UK varsity offers £33,150 scholarships to Nigerian MSc applicants
-
News20 hours ago
EFCC withdraws appeal against order blocking Yahaya Bello’s arrest
-
Metro7 hours ago
Four-year-old boy dies while eating in Abuja school
-
Metro8 hours ago
Lagos destroys shops in Ajah market, arrests two traders
-
News11 hours ago
Gombe residents lament 48 hours blackout
-
Metro8 hours ago
Ogun police arrest two ‘one chance’ robbers
-
News9 hours ago
Blackout: Ogun vows repairs of poles destroyed by heavy rain
-
News10 hours ago
Hadi Sirika spends second night in EFCC custody over money laundering probe