Kim Kardashian is NOT a billionaire yet — Forbes

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Kim Kardashian

Forbes has condemned reports supporting American businesswoman and actress, Kim Kardashian as a billionaire following a just-concluded deal of $200 million.

Kim who sold a 20 percent stake of her beauty line to an American multinational beauty company, COTY, became $200 million richer.

This is coming after her husband, rapper Kanye West, took to social media on Tuesday, June 30, to congratulate her on becoming a billionaire after her deal with COTY.

According to Forbes, the 39-year-old reality star and mother of four is worth about $900million after inking the deal with Coty Inc. to sell a 20 percent stake in the company, which sells make-up and fragrances, for $200million.

Forbes writes that the deal values KKW Beauty at $1 billion, not that she is one yet, but close.

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The outlet estimates that Kim Kardashian has a 72 percent stake in the company now (majority ownership) and that her mother Kris Jenner owns an 8 percent stake.

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