Reality TV star Kim Kardashian is not a billionaire, reveals Forbes. According to a report on the global media website, the reality TV star is worth approximately $900m after she closed a deal with a multinational beauty company Coty Inc based in the US. Kim's beauty company, KKW, was reportedly valued at $1bn. However, the owner of the multinational beauty company is not worth a billion dollars just like her sister Kylie Jenner who was also stripped of her self-made billionaire status.
Kim will be left with only 72% stake as she decided to sell 20% stake in the company for $200m while 8 per cent will go to her mother and manager Kris Jenner. Last year, Coty spent around $600m to purchase a 51% stake in Kylie Jenner's company, Kylie Cosmetics. Kim is likely to close the deal during the third fiscal of 2021 after which the billionaire status of the multinational beauty company owner will vanish in a true sense.
Kim's husband and rapper Kanye West took to his Twitter handle to boast about his wife's billionaire status. He tweeted: "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."
According to reports, Kim and Coty have been working towards finalising a deal for months. Kim even shared a message on social media hinting at her upcoming deal. The Keeping Up With The Kardashians' actor wrote: "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." Kim is one of the most influential women, who became famous after a 2002 sex tape leak purportedly featuring the diva with hourglass figure and her ex-boyfriend Ray J.