Kanye West has congratulated wife Kim Kardashian on “becoming a billionaire” after it was announced she was selling a stake in her beauty brand for 200 million dollars (about £162 million).
The deal, which will see US cosmetics giant Coty Inc get a 20% stake in Kardashian’s KKW Beauty, values the reality TV star’s three-year-old business at one billion dollars.
It is the second agreement the company has struck with the famous family, after buying more than half of Kylie Jenner’s makeup line.
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
West, himself officially named a billionaire by Forbes magazine in April, was quick to congratulate “my beautiful wife” on apparently achieving the same status.
He tweeted saying he was “so proud “of the mother of his four children, adding: “You’ve weathered the craziest storms and now God is shining on you and our family.”
West added a still life image made of flowers and vegetables, writing: “So blessed this is still life So I made you this still life We love you so much.”
Kardashian leveraged her huge social media following to build up KKW Beauty, which was founded in 2017 and sells products including lip gloss, body foundation and perfume.
As part of the deal with Coty, the 39-year-old will still promote the business online and will help create new products.
KANYE WESTARTHUR JAFAPROJECT 02WASH US IN THE BLOODFROM THE FORTHCOMING ALBUM GOD'S COUNTRY
TODAY
STILL #WESTDAYEVER pic.twitter.com/QgjqDQjQdS
— ye (@kanyewest) June 29, 2020
West – who hours before congratulating his wife announced a new album – was named a billionaire after giving Forbes an eye-catching glimpse into his personal finances.
The magazine valued his net worth at $1.3 billion (about £1.06 billion). That includes his stake in the Yeezy sneaker line, which Forbes described as “one of the great retail stories of the century”.
Jenner, 22, had also been named a billionaire by Forbes but was later stripped of the status after the magazine accused her of inflating the value of her cosmetics business.
It said: “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.”
Jenner responded in a series of tweets, saying: “what am i even waking up to. i thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period.”