Kim Kardashian-West is about to become a billionaire, apparently

Dusty Baxter-Wright
Photo credit: Dia Dipasupil - Getty Images

From Cosmopolitan

Just weeks after Kylie Jenner was stripped of her billionaire status (more about that later), a new report claims Kim Kardashian-West is about to become one for the first time.

Ice creams on you then, Kim!

According to BBC, Coty is eyeing up a 20% stake in KKW Beauty, which will be worth $200m (£160m) deal - meaning they value her brand at $1bn (£800m) according to its terms. The deal is set to close later this year.

Speaking about the business deal, Kim said, "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."

Coty, meanwhile, added on Instagram:

"We are thrilled to welcome one of the most influential beauty icons to the Coty family: @kimkardashian West! 😍 With Kim’s influence and our deep expertise in prestige beauty we will build a beauty powerhouse and enter new beauty categories together. #Coty #CotyInc #Beauty"

The news comes as Kim's younger sister Kylie was recently stripped of her billionaire status by Forbes, after they alleged Kylie made up much of her business's background. The Forbes report, in an article titled ‘Kylie Jenner's Web Of Lies', claims that Kylie "inflated the size and success of her business for years".

Kylie hit back to claim she had never asked for her supposed billionaire status, writing, "What am I even waking up to. I thought this was a reputable site... all I see are a number of inaccurate statements and unproven assumptions lol. I've never asked for any title or tried to lie my way there ever. Period."

In a separate tweet, Kylie responded to claims around her tax returns, quoting the original report and tweeting, "'Even creating tax returns that were likely forged' that's your proof? So you just THOUGHT they were forged? Like actually what am I reading."

Maybe there are two billionaires in the family now!

Cosmopolitan UK's July issue is out now and available for purchase online and via Readly. You can also SUBSCRIBE HERE or read on Apple News+. Find our podcast 'All The Way With...' on Spotify, Apple Podcasts and the Acast app.

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