On Monday (June 29), it was revealed that Kim Kardashian had officially sold a 20% stake in her company KKW Beauty to beauty brand Coty for $200 million.
This news, according to Forbes, estimates that KKW Beauty is now worth $1 billion, and puts Kim Kardashian‘s worth at around $900 million.
The sale will reportedly close in 2021 and will leave Kim as a majority owner with a 72% stake in the company.
According to Coty, Kim will be “responsible for creative efforts while Coty will focus on expanding product development outside the realm of color cosmetics.”
All of this news comes just a few weeks after Kylie Jenner‘s big scandal involving Forbes and her billionaire status.