Forbes debunks Kanye West's claims, says Kim Kardashian ain't billionaire yet

Kim Kardashian has been outed as 'not part of the 'six comma club' by editors of financial magazine Forbes, weeks after they stripped her sister Kylie Jenner of the title.

The reality TV star was stripped of her new billionaire status by editors at Forbes magazine who have debunked Kanye West's claims about his wife's wealth.

Kim was applauded by the rapper this week after she signed a lucrative deal with cosmetics giant Coty to buy part of her KKW Beauty brand.

The beauty mogul sold a 20% stake in her cosmetics line to Coty. The $200 million dollar deal was said to have valued the KKW Beauty brand right at a billion dollars,

Kanye later hailed Kim as as the family's new "billionaire" in a post online, writing: "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."

However, Forbes have moved to clarify West's claims and insisted Kim isn't actually a billionaire.

In a post on the Forbes website, they reported that Kim "isn’t estimated to be part of the six comma club yet."

However, they did reveal that Kim has accumulated massive wealth in her own right and added: "Forbes estimates Kardashian West remains just shy of billionaire status, worth $900 million."

They explained the deal, which is set to be finalised in early 2021, leaves Kim as the majority owner of KKW Beauty with a 72 per cent stake, while her mother Kris Jenner owns eight per cent.

The report concludes Kim will be "worth $900 million following the deal’s close" according to their estimates.

The take down comes just weeks after Forbes bosses stripped Kim's younger half-sister Kylie Jenner of her billionaire status.

Kylie had previously been hailed by the magazine as the world's youngest self-made billionaire.

However, they retracted their decision amid allegations Kylie's team had duped the magazine by using fake draft tax returns to boost her net worth.

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