Forbes disagrees with claims that Kim Kardashian is a billionaire after Coty acquired a 20 per cent stake in her KKW Beauty for $200 million.
The 39-year-old reality star and socialite’s with the multinational beauty company pushes her worth to about $900million, according to Forbes.
Two days before Forbes revelation, Kayne West celebrated his wife as the new billionaire amongst the few who already existed.
He said on Twitter: “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. So I made you this still life. We love you so much”.
The deal is set to close in the third fiscal quarter of 2021 and will leave majority owner Kim, with a 72% stake.
Her mom, Kris Jenner owns 8%, which hinders Kimfrom climbing to a billionaire status.
In a related event in May, Forbes stripped Kylie Jenner (22) of her billionaire status after accusing her of having lied about her company’s figures and ‘forging’ tax returns.
This was made known in a story titled “Inside Kylie Jenner’s Web of Lies – And Why’s She’s No Longer a Billionaire”, as publication claimed she is worth just under $900million.
Hitherto, Forbes had named Kylie the world’s youngest self-made billionaire in 2019 and again in 2020.
The reputable publication famous with ratings of people and organisations spelt hinted that the Kardashian-Jenners attempted to convince people of their wealth.
Forbes reported that the family invited “Forbes into their mansions and CPA’s offices, and even creating tax returns that were likely forged.
This says how desperate some of the ultra-rich are to look even richer.