It emerged this week that Kim, 39, has sold a 20 percent share of her cosmetics brand KKW Beauty to Coty in a deal worth $200 million (£160 million).
The deal is expected to close next year and comes hot on the heels of Coty also buying a majority stake in Kim’s sister Kylie Jenner’s brand Kylie Cosmetics earlier this year.
Once the ink is dry, KKW Beauty will reportedly be valued at $1 billion (£800 million).
Kanye, who himself is said to be a billionaire, reacted to the news in a rare tweet which read: ‘I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire.
‘You’ve weathered the craziest storms and now God is shining on you and our family.’
A rather sweet sentiment that was bizarrely accompanied by a photo of a fresh produce, including a green pepper, and a flower.
It’s likely the produce was grown in Kim and Kanye’s backyard after the reality star revealed last year that they were growing their own fruit and vegetables at their Beverly Hills mansion.
Kim announced the news of her Coty deal with a statement, which said: ‘This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world.’
‘So blessed and forever grateful,’ she later wrote in an Instagram post.
Coty added that the company will have ‘overall responsibility’ for developing skin, hair and nail products for KKW Beauty.
‘Through the relationship each party will leverage its unique strengths to further build a high growth, direct-to-consumer beauty brand,’ they said.
On Instagram Coty went on: ‘With Kim’s influence and our deep expertise in prestige beauty we will build a beauty powerhouse and enter new beauty categories together.’
Kim’s exciting news comes just weeks after Kylie, 22, was controversially stripped of her billionaire title by Forbes, who had earlier declared her one.
Now, the publication claims Kylie lied about her wealth and the amount of taxes paid.
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