According to husband Kanye West, Kim Kardashian has reached a new career milestone: billionaire.
Taking to Twitter last night, West wrote: “I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire. You’ve weathered the craziest storms and now God is shining on you and our family.”
Kardashian reached billion-dollar status, according to West’s calculations, after selling a 20% stake in in her three-year-old beauty business to Coty for $200 million— a deal that values the KKW Beauty brand at $1 billion. The deal, which is on track to close in early 2021, will leave Kardashian with a majority stake of approximately 72% in KKW Beauty, according to a Forbes estimate. The money magazine estimates that Kardashian’s mom, Kris Jenner, owns 8% of the business. (Coty, an umbrella group to brands such CoverGirl and Calvin Klein Fragrances, scooped up a 51% majority stake in Kylie Cosmetics, the label founded by Kardashian’s sister Kylie Jenner, at a $1.2 billion valuation earlier this year.)
Although Ye says Kardashian has reached three-comma status, Forbes says otherwise. According to the publication, Kardashian is worth about $900 million after yesterday’s payout. The bulk of the star’s wealth comes from KKW Beauty, which generated about $100 million in sales last year. In the fashion space, Kardashian generates further income from Skims, the inclusive shapewear label she launched in 2019. In addition, the businesswoman has parlayed her fame from “Keeping Up With the Kardashians” into serious dollars on social media — earning an estimated $858,000 per Instagram post, according to Hopper HQ.
While there’s dispute as to whether Kardashian is really worth $1 billion, West himself is believed to be a member of the three-comma club. In April, Forbes estimated that the rapper’s net worth is about $1.3 billion. That figure includes $1.26 billion from West’s Yeezy empire, as he owns 100% of the Yeezy brand. The designer’s net worth further includes $102 million in real estate holdings, as well as roughly $90 million from his musical label and his recording and publishing rights. In 2019, Forbes estimates Adidas Yeezy line made about $1.3 billion in revenue for 2019, with West taking home approximately $140 million of that. In addition to its long-time partnership with Adidas, Yeezy signed a multiyear deal with Gap last week, under which Yeezy will receive royalties and potential equity related to sales achievement.