Kim Kardashian can now add billionaire to her lengthy resume!
Forbes released their World’s Billionaires list and included the reality star for the first time on Tuesday, March 6. The publication credits her two lucrative businesses, KKW Beauty and SKIMS, for pushing her over the top. In fact, they report that Kim increased her net worth from $780 million to $1 billion in October. Kardashian switched her business theory and followed the cues from her little sister, Kylie Jenner. Now the KarJenners have two billionaires in the family… we are already excluding Kanye West from their circle of trust.
Kim followed Kylie’s footsteps and adopted a direct-to-consumer process and heavily focused on advertising on social media. “It’s the first time I’ve moved away from having licensing deals and transitioned into being an owner,” she told Forbes in 2017 when she announced her beauty line.
The big payday came when she sold 20% of KKW Beauty to makeup giant Coty for $200 million. They estimated Kim’s company’s value at $1 billion. BTW, Coty is the same company that bought 51% of Kylie Cosmetics, a deal that made Kylie a billionaire.
The star’s shapewear company, SKIMS, has also seen tremendous success. Forbes says her brand was fueled by people looking for more comfy clothes during the pandemic. Regardless of the reason, she keeps ownership of the shapewear company close to the vest; she owns the majority stake, according to Forbes.
She has never publicly discussed its revenue, but Forbes’ source estimates its value north of $500 million. Meaning her portion is probably worth over $225 million… which boosted her into the billionaire list!