Kim Kardashian is officially a billionaire! She has joined the likes of Jeff Bezos and Elon Musk on the billionaires’ table.
On Tuesday, Forbes released its annual “World’s Billionaire List” which placed Kim on the elite list for the first time. Forbes cited Kim’s lucrative businesses, KKW Beauty and Skims, added to her television show and endorsement deals helped put her over the top to achieve the billionaire benchmark.
Kardashian West launched KKW Beauty in 2017, and last year 20% stake in the cosmetics line was acquired by Coty for $200 million in a deal that valued the beauty company at $1 billion.
Forbes said her remaining stake in the business is worth about $500 million.
Kim’s worth increased from $780 million in October to $1 billion.
“It’s the first time I’ve moved away from having licensing deals and transitioned into being an owner,” Kardashian told Forbes in 2017 when she announced her cosmetics line.
Kardashian, 40, also in 2019 launched shapewear company, Skims; a collection of figure-hugging shapewear and bodysuits, and pivoted it to include loungewear during the pandemic when women started leaning into cozier clothing while being quarantined. She holds a majority stake in the company, which hasn’t disclosed its revenues, Forbes reported.
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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.
The rest of Kardashian West’s fortune sits in cash and investments, including real estate. Every year since 2012, she has earned at least $10 million pretax, by Forbes’ count, thanks to paychecks from Keeping Up With the Kardashians, endorsement deals, and endeavors like the aforementioned mobile game and her now-defunct Kimoji app, Forbes reported.
She also has three properties in Calabasas, northwest of Los Angeles, and a portfolio of blue-chip investments, including shares of Disney, Amazon, Netflix, and Adidas.
This is not the first time the Kardashian-Jenner family has appeared on a Forbes list. The magazine previously sparked controversy for crowning her younger sister Kylie Jenner the youngest-ever self-made billionaire at 21 years old.
Although the family’s long-running E! show is about to end, a new deal is soon to begin with Hulu. This will create content and the TV money will keep flowing.
Kim West filed for divorce from Kanye West in February, citing irreconcilable differences. Kanye is reportedly worth $6.6 billion with the vast majority of his wealth tied in his apparel businesses. If the divorce goes on, Forbes will have to release another world’s billionaire list!
Congratulations Kim West!