According to Forbes, reality TV star Kim Kardashian is officially a billionaire and it is her first time making the list. The financial magazine shared that the reality star’s net worth moved up from $780 million in October 2020 to $1billion all thanks to her business ventures SKIMS and KKW Beauty.
It explained that cash from “Keeping Up With the Kardashians” and endorsement deals also added to the figure. Last year she sold 20% of KKW Beauty to cosmetics conglomerate, Coty, for $200 million, a deal that valued the company at $1 billion. Skims, the shapewear line Kardashian West launched in 2019. She raised money from fashion insiders like Net-a-Porter’s Natalie Massane and Theory’s Andrew Rosen and capitalized on her massive social media following to shill the brand.
Kim owns a majority stake in closely-held Skims, which hasn’t disclosed its revenues. A source familiar with Skims told Forbes about a transaction that values the shapewear company north of $500 million. As a result, Forbes estimates her Skims stake is worth a conservative $225 million, enough to lift her fortune to $1 billion.
Read also: Kim Kardashian Flaunts Her Physique As She Wows In Skimpy Bikini In Holiday Throwback Image Amid Kanye West Divorce
View this post on Instagram
Kim Kardashian’s fortune sits in cash and investments, including real estate, she gets paychecks from Keeping Up With the Kardashians, endorsement deals, and endeavors like the aforementioned mobile game and her now-defunct Kimoji app. She’s also got three properties in Calabasas, northwest of Los Angeles, and a portfolio of blue-chip investments, including shares of Disney, Amazon, Netflix, and Adidas that her soon-to-be ex-husband Kanye West gifted her for Christmas in 2017.
KOKO Trending Video: 10 Interesting Things To Know About Don Jazzy’s Marriage
Photo Credit: Getty