Kim Kardashian is on her way to becoming a billionaire after the huge sale of her cosmetics company to Coty.
Kardashian’s net worth reached $900 million after selling her 20 percent stake in KKW Beauty to Coty, per Forbes. The reality TV star owns KKW Beauty, which has a valuation of $1 billion. Even if the reality TV star sold a small stake in her company, she will remain in charge of creative direction and product developments. As the majority owner, Kardashian-West still has over 70 percent ownership of KKW Beauty.
Aside from her cosmetics company, the mother of four earns a lot via endorsement deals. According to W Magazine, she makes anywhere between $300,000 to $1 million per Instagram post. It would not be surprising if this were true due to her 177 million followers on the social media platform.
The 39-year-old sets her eyes on becoming a lawyer someday. But this does not stop her from venturing in different deals. In 2019, she launched Skims, which offers shapewear for all body types of women. Kardashian-West also has her own mobile game and fragrance lines.
On the other hand, Kylie Jenner remains the first Kardashian to have eclipsed the billionaire status. She also sold stakes in her Kylie Cosmetics to Coty this year, which resulted in a jump in her personal net worth. The estimated worth of 51 percent of Kylie Cosmetics is $1.2 billion. However, reports surfaced that Jenner is no longer a billionaire. There are allegations that sales records were overblown and estimates were far bigger than what the real figures suggest. Even if the reports were true that she is no longer a billionaire, Kylie remains to be a true lady boss who managed to build an empire even at a young age.
The developments just goes to show that the Kardashian clan is a marketing powerhouse. The Kardashian-Jenner siblings have leveraged their success on TV to personal ventures. With Kim Kardashian and Kylie Jenner’s aggressive promotion on social media, it is no wonder their respective cosmetics brands receive high valuations.
Coty has been instrumental in helping both sisters achieve their wealthy status. The company is hoping it can use their popularity to beef up the sales and eventually turn things around. After the news of KKW Beauty sale to Coty, the price of the latter shot up to $4.60 per share.
“Keeping Up With The Kardashians” is now on its 18th season.. The current season started in March but after six episodes, the show went on hiatus due to the pandemic. The next episodes will be aired in September 2020.