Kim Kardashian Is Not A Billionaire Yet Forbes Claims
Hot New Hip Hop said today that the reality star, Kim Kardashian, isn't a billionaire yet. According to the outlet, Kim recently came upon even more wealth after she sold part of her company, KKW Beauty Brand, but Forbes says she's still not a billionaire.
Near the beginning of the week, Kanye West took to his Twitter account to congratulate the reality star for officially reaching the billionaire status after she did the same thing for him regarding his new Gap deal. The rapper wrote that he was so proud of his wife for reaching the milestone.
Forbes Magazine says that while KKW Beauty is a billion-dollar company, her net worth at the moment is approximately $900,000,000. As it was previously reported, Kim's financial progress intensified following the selling of her 20% stake in the KKW Beauty Line. She sold it to Coty, Inc.
Coty, Inc, is the same company that was reported to have purchased 51% of Kylie Jenner's company, Kylie Cosmetics, near the beginning of the year. Fans of the Keeping Up With The Kardashian star know that the family hasn't had a great relationship with Forbes as of late.
Earlier this year, in May, Forbes released a report in which they stated that Kylie had inflated her numbers to reach the billionaire milestone. Kylie responded to the allegations by claiming Forbes had made a number of "inaccurate statements" based on "unproven assumptions."
Forbes accused Kylie of faking documents to make it appear as if her company was worth more money than it really was. The turn of events proved controversial on social media due to Forbes designation of Kylie as the youngest self-made billionaire in the years prior.
This decision was also controversial, with many people online arguing that Kylie wasn't really "self-made." Social media users had a hey-day with the label, arguing that Kylie merely used her position in an already wealthy family to capitalize on a pre-existing brand.
Her defenders argued, on the other hand, that regardless of the family she was born into, she still managed to leverage her position to build one of the most successful makeup companies around.