AceShowbiz - Kim Kardashian may not be the only billionaire in the family. In fact, she's not a billionaire yet, according to Forbes. The magazine has disputed the TV personality/entrepreneur's claim that she has reached the prestigious status after selling a 20 percent share of her KKW Beauty brand to Coty.
It was believed that the $200 million deal will bring her company's worth to a staggering $1 billion, with the "Keeping Up with the Kardashians" star remaining the majority stakeholder in the business. The valuation was first reported by the Financial Times.
Kim's husband Kanye West took to Twitter to praise his wife for her latest milestone, writing, "I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire." He went on gushing, "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."
But it might be too early for Kim and Kanye to throw a celebration. According to Forbes, the 39-year-old "isn't estimated to be part of the six comma club" yet. After the deal between KKW Beauty and Coty, the publication estimates her net worth at $900 million.
Kim has not responded to Forbes' claim. She previously stated when confirming the deal with Coty, "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."
Earlier this year, Forbes also revoked Kylie Jenner's billionaire status after naming her the "youngest self-made billionaire" at 21 in 2019. The magazine accused the 22-year-old makeup mogul of lying about cosmetic company Kylie Cosmetic's earnings and "creating tax returns that were likely forged."
Kylie quickly clapped back at the time, tweeting in response to the magazine's article which was titled "Inside Kylie Jenner's Web of Lies - And Why She's No Longer a Billionaire", "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."