Kim Kardashian-West overtakes Kylie Jenner to become self-made billionaire
Kim Kardashian’s beauty brand, KKW, has been valued at a billion dollars, with the mogul now overtaking the wealth of her younger sister Kylie Jenner.
Furthermore, Kim Kardashian 39, has just inked a deal with Coty Inc. to sell a 20 per cent stake in the company, which sells make-up and fragrances, for $200million.
The deal is for a ‘long-term strategic partnership to launch products in new beauty categories
and expand across the globe from top to bottom’, TMZ reports.
Sources also said that Coty acts as a licensee for skin, hair, personal, and nail products.
If the company have paid $200million for one fifth of the brand, that means they value the whole company at a billion dollars.
This means that Kim has overtaken her sister Kylie, 22, in the wealth stakes as her wealth is thought to be at $900-950million.
Recall, wotzup.ng reported that Kylie had been listed as a ‘self-made billionaire’ by Forbes, but they denounced her title,
angering her by accusing her of inflating figures and ‘forging’ tax returns for the makeup mogul’s cosmetics company.
TMZ also reported that Kim and her team have been working out the deal with Coty for months.
‘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.’
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