After getting a tax cut from Donald Trump, billionaire Kylie Jenner is selling her company to make even more money.
“Beauty company Coty is taking a majority stake in Kylie Cosmetics, the company announced Monday morning.
Coty’s stock initially jumped as much as 6% on the announcement in premarket trading, but was recently trading up about 2%.
The deal gives Coty a 51% stake in the makeup company for $600 million. Kylie Jenner — the 22-year-old founder of the makeup company and member of the Kardashian-Jenner family — and her team will continue to lead the company’s creative efforts related to products and communications.” [READ MORE]