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.
