Forbes Rejects Kanye’s Claim That Kim Kardashian Is A Billionaire

Forbes Rejects Kanye’s Claim That Kim Kardashian Is A Billionaire

Following the news that Kim Kardashian sold a 20% stake in her make-up business KKW Beauty to COTY for $200 million, many began celebrating her as a billionaire. Though the report made by TMZ stated that once the contract is officially signed which is expected to happen soon, her company will be worth a staggering $1billion

Kim’s hubby Kanye West even congratulated the reality star on her latest deal, tweeting: “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.” Ye added, “So blessed this is still life So I made you this still life. We love you so much.”

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

So blessed this is still life
So I made you this still life

We love you so much pic.twitter.com/Vvtgzodnah

— ye (@kanyewest) June 30, 2020

Forbes has now followed up with a report debunking her billionaire status. According to Tuesday article, Forbes stated that she “isn’t estimated to be part of the six comma club “ yet. They say her net worth is $900 million… Either way, Kim is worth a hell of a lot of money and is super close to getting to the billionaire spot.

While Kim hasn’t spoken out on this latest report by Forbes, she did speak with TMZ earlier this week about her deal. She said,

“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.”

This latest news comes just two months after Forbes “stripped” Kylie Jenner of her billionaire title. As we previously reported, the magazine claimed that it reviewed financial data released by Coty Inc, which bought a 51 percent stake in Jenner’s Kylie Cosmetics company in November 2019. Those financial filings show “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,” the magazine said.