Two months after reality TV star Kylie Jenner was taken off Forbes billionaire list, her sister Kim Kardashian West almost made it there.
According to Forbes, Kim’s latest business deal brought her closer to being a billionaire. She reportedly sold a 20 per cent stake of her make up line, KKW Beauty to Coty for $200 million.
“It comes not long after Coty bought a 51% stake in her half-sister Kylie Jenner’s cosmetics business in January, valuing that business at $1.2 billion,” said the news website.
Forbes said that perhaps the biggest clue as to why Coty should be buying into the KKW Beauty brand, can be found on social media. “Kardashian West enjoys a following of 177 million on Instagram, that’s half the population of the US or three times that of the UK, compare that with the most well-known Coty brand, Max Factor, which has 585,000 followers,” it explained.
And to put Kardashian West’s following in perspective, well known fashion models and celebrity influencers, Kate Moss and Naomi Campbell, have 1 million and 9.3 million Instagram followers respectively.