Kim Kardashian brazenly stepped out without a face mask as she went for lunch with husband Kanye West on Sunday.The 39-year-old reality star was li
Kim Kardashian brazenly stepped out without a face mask as she went for lunch with husband Kanye West on Sunday.
The 39-year-old reality star was likely in a celebratory mood after reaching billionaire status and surpassing sister Kylie in the wealth stakes, according to a new report.
Kim showed off her new vibrant red tresses as she was seen leaving Nobu in Malibu with her husband of six years who was also crowned a billionaire earlier this year.
Time to celebrate: Billionaire Kim Kardashian is pictured out at Nobu, Malibu on Sunday for a lunch date with husband Kanye West
While Kim opted to forgo a face covering – against recommendations from LA county Department of Public Health – Kanye attempted to play it safe as he wrapped a bright orange sweater around his face
It’s the first time the Keeping Up With The Kardashians star and the rapper have been seen in public since the coronavirus lockdowns began in March.
While Kim opted to forgo a face covering – against recommendations from LA county Department of Public Health – Kanye attempted to play it safe as he wrapped a bright orange sweater around his face.
Kim made sure to stand out with a sexy look wearing snakeskin-print pants, a bold neon bralet and black leather jacket.
Almost matching his wife, Kanye opted for a camouflage sweater over black pants and covered his nose and mouth with his brightly colored hoodie.
The couple left the upscale sushi eatery and hopped into Kanye’s Lamborghini SUV with Kim in the driver’s seat.
The 39-year-old reality star – who is a now reportedly a billionaire and overtaken sister Kylie in the wealth stakes – showed off her new vibrant red tresses
Iconic: Kim made sure to stand out with a sexy look wearing snakeskin-print pants, a bold neon bralet and black leather jacket
It comes as Kim overtook sister Kylie Jenner in the wealth stakes after her KKW beauty brand was valued at a billion dollars.
The beauty mogul has just inked a deal with Coty Inc. to sell a 20 per cent stake in the company, which sells make-up and fragrances, for $200 million.
‘The deal is for a long-term strategic partnership to launch products in new beauty categories and expand across the globe from top to bottom,’ TMZ reported Monday.
Sources have also told the site that Coty acts as a licensee for skin, hair, personal and nail products.
Coordinated: Almost matching his wife, Kanye opted for a camouflage sweater over black pants and covered his nose and mouth with his brightly colored hoodie
Protection: The power hitmaker covered his nose and mouth with his brightly colored hoodie
VIP: Kim covered her famous curves in skakeskin-print pants and some perspex heels
Mini chic: The mother-of-four accessorized with a teeny metallic purse
Stand-out star: Kim’s dyed red locks were pulled back in a low ponytail
If the company have paid $200million for one fifth of the brand, that means they value the whole company at a billion dollars.
This means that Kim has overtaken her sister Kylie, 22, in the wealth stakes as her wealth is thought to be at $900-950million.
She had been listed as a ‘self-made billionaire’ by Forbes, but they denounced her title, angering Kylie by accusing her of inflating figures and ‘forging’ tax returns for the makeup mogul’s cosmetics company.
Coty bought a majority stake in Kylie’s beauty company, (51 per cent) in 2019, for $600million, whereas Kim will still be in charge of her company.
Furthermore, Kim will still promote KKW Beauty online and will help create new products.
Meet and greet: Kim – still without a face mask – stopped to chat to a fan on her way out of the parking lot
Coty plans to expand the brand into more countries around the world and possibly into other categories, like skin creams and shampoos. It also hopes that the buzzy brand can help boost sales and connect with younger shoppers who spend a lot of time on social media.
Coty´s brands, including Max Factor makeup and Sally Hansen nail polish, can’t compete with KKW Beauty’s reach. Max Factor, for example, has 585,000 Instagram followers. KKW Beauty has 4.4 million.
Kim’s new milestone means she joins Kanye in the billionaire club.
Earlier this year, the hip hop star was officially described as a billionaire, and is reportedly worth $1.26 billion after he provided documents to Forbes magazine, which proved his fortune by giving an ‘authentic numeric look into Kanye, Inc’.
However, Kanye disputes Forbes’ findings, claiming he is actually worth $3.3 billion and not $1.26 billion and the rapper even texted the publication after the article was published to correct them.
Now Kim’s a BILLIONAIRE! Coty Inc has splashed out $200m on 20 per cent of Kardashian’s beauty empire as she overtakes sister Kylie Jenner in the wealth stakes (stock image)
Not happy: The latest news comes after Kylie’s wealth was estimated at around $900-950million as Forbes stripped her of her ‘self-made billionaire’ title
He reportedly wrote: ‘It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count.’
According to Forbes, Kanye was furious after the publication’s annual World’s Billionaires list – featuring his sister-in-law Kylie Jenner, whose billionaire status has since been removed – was published in March but there was no mention of him.
Along with his share of the Yeezy footwear brand, which Forbes estimates at about $1.4 billion, with a note that it’s a ‘private, highly-illiquid $1.4 billion’ putting it closer to $1.26 billion, Kanye also has $17 million in cash and $35 million in stocks.
He also holds $81 million in ‘buildings and improvements’, $21 million in land and his G.O.O.D. label – along with his own recorded music and publishing rights – is worth at least $90 million, according to documents provided by the rapper.
However, due to the ‘illiquidity of these myriad assets and the lack of independent backup’, Forbes estimates that the assets are worth 50 per cent less than stated, leaving Kanye with about $125 million in assets outside of Yeezy.
Additionally the magazine says that between ‘mortgages, advances and other liabilities’, the rapper owes about $100 million.
Something to say: Kylie recently hit back at Forbes after it published a report claiming that the Jenners and their PR team inflated figures for Kylie Cosmetics