The reality TV star turned beauty mogul has sold a 20 per cent portion of KKW Beauty to Coty Inc.
The deal with Coty has valued KKW Beauty at $1bn after just three years in operation.
It marks the second agreement that Coty has made with the Jenner-Kardashian family, given that it purchased more than half of Kylie Jenner’s makeup line for $600m (£488m) last year.
On Monday, West tweeted that he was “so proud” of his wife of six years.
Alongside a still life photograph comprising flowers and vegetables, the musician wrote: “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. So blessed this is still life. So I made you this still life. We love you so much.”
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
So blessed this is still life
So I made you this still life
We love you so much pic.twitter.com/Vvtgzodnah
— ye (@kanyewest)
West’s tweet has garnered more than 79,000 likes and 11,000 retweets.
In April, West was labelled a billionaire himself by Forbes magazine.
The publication valued his net worth at $1.3bn (£1.06bn), incorporating his stake in the Yeezy trainer line, which Forbes labelled “one of the great retail stories of the century”.
Jenner was also named a billionaire by the magazine, however, the 22-year-old was later stripped of the title after Forbes accused her of inflating the value of her business.
“Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe,” the magazine said in a report.
“even creating tax returns that were likely forged” that’s your proof? so you just THOUGHT they were forged? like actually what am i reading.
— Kylie Jenner (@KylieJenner)
Jenner denied the claims, responding in a series of tweets: “what am i even waking up to. i thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period.”