Coty deal could make Kim first real billionaire in Kardashian-Jenner family

Kim Kardashian West could soon be the first actual billionaire in the Kardashian-Jenner family.

According to Forbes, the 39-year-old reality star is closer than ever to being a billionaire after closing a $200 million-dollar deal with Coty for a 20 per cent stake in KKW Beauty, writes the New York Post.

The deal values the four-year-old brand at $1 billion, meaning Kim , who also owns mobile game “Kim Kardashian: Hollywood” and her own shapewear brand Skims, is now worth about $900 million.

And if she reaches the billionaire mark, she’ll be the first out of all her siblings to reach the milestone. Her younger sister Kylie originally held that status, but Forbes withdrew the title in an explosive report last month that accused her of lying about her wealth.

“Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe,” Forbes claimed. Jenner disputed the report.

Coty is helping make both sisters richer as it seeks to boost its own sales. The latest deal is calling for Coty to develop new products with Kim such as hair, nail and skincare brands.

Coty chairman and chief executive Peter Harf said Kim was 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.

“This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”



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