Kim Kardashian West sells stake in beauty brand for $200M
Jul 01 2020
The "Jesus Is King" rapper made Kardashian a still life using flowers and vegetables.
The 43-year-old rapper was feeling proud on Monday evening when he took to Twitter to brag about his unbelievable wife, newly-minted billionaire business mogul Kim Kardashian West.
Kim Kardashian has a massive fan following on social media and half of her marketing is done through the same.
Coty Inc said on Monday it would buy a 20 per cent stake in reality TV star Kim Kardashian West's makeup brand KKW, as the cosmetics maker looks to cash in on the demand for celebrity-owned products.
He went on: "You've weathered the craziest storms and now God is shining on you and our family".
"So blessed this is still life", he captioned. "I love you to your alien planet and back!"
"Is this really the time to announce pride at your wife becoming a billionaire?" one said.
Another added, "Billionaire being a measure of success when black people are dying, the world is burning and the economy failing".
News of the deal comes after Seed Beauty, Kardashian West's partner for her beauty line, won a court order temporarily blocking the reality TV star from sharing trade secrets in their agreement as she pursued the stake sale. Per a release, Coty will help the mogul expand her brand to include more skin-care, hair-care, personal-care, and nail-care products, though Kardashian and her team will still have creative control over the formulations and communication efforts.
Forbes on Tuesday estimated Kardashian's net wealth after the Coty deal at US$900 million.
She wrote, "Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand".