Kim Kardashian West Becomes Billionaire After Coty Investment In KKW Beauty

Editor’s note: Since time of publication, Kim Kardashian’s status as a billionaire has come into question. Her net worth is reportedly estimated at around $900K.

Kim Kardashian West just sold a 20% stake in her makeup brand, KKW beauty, to Coty for a casual $200 million. The sale values the beauty brand at $1 billion, officially granting the media mogul billionaire status— a milestone previously reached by sister Kylie Jenner (before Forbes stripped her of it years later) and husband Kanye West.

The sale comes half a year after Coty purchased a 51% stake in Kylie Cosmetics.

The partnership will reportedly enable Kim to maintain creative control over the brand while Coty takes the reins on commercial opportunities and global expansion.

Though the deal is obviously very exciting for Kimmy, it’s equally exciting for fans of the brand, as Coty has plans to grow KKW Beauty from just makeup into skincare, personal care, haircare, and nail products.

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“Kim is a true modern day global icon. She is a visionary, an entrepreneur, a mother, a philanthropist, and through social media has an unparalleled ability to connect with people around the world,” said Peter Harf, Coty Chairman and CEO, in a press statement. “This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”

The deal is expected to close at the end of this year. No word yet on when the brand will expand into other categories.

Also no word on if Coty will be investing in Kaney’s Yeezy Beauty next.

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