Beauty conglomerate Coty acquired a 20 percent stake in Kim’s KKW Beauty for $200 million, valuing the cosmetics and fragrance business at $1 billion.
With the new deal, Kardashian West is now worth about $900 million, according to Forbes’ estimates.
Her husband and 43-year-old rapper, Kanye West, who is already a “billionaire” took to his Twitter page to celebrate his wife on her new achievement.
The rapper wrote:
‘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 beauty mogul’s decision to sell a part of her company follows in sister Kylie Jenner’s footsteps, who sold a 51 percent majority stake of Kylie Cosmetics to Coty for $600 million in November 2019. The sale valued Kylie’s company at almost $1.2 billion and according to Forbes, left her with a net worth of just under $900 million.