According To Forbes Magazine Kim Kardashian Is Officially A Billionaire
According To Forbes Magazine Kim Kardashian Is Officially A Billionaire. Kim Kardashian officially joins the World’s Billionaires list for the first time. Forbes estimates that Kardashian West is now worth $1 billion, up from $780 million in October, thanks to two lucrative businesses – KKW Beauty and Skims – as well as cash from reality television and endorsement deals, and a number of smaller investments.
Kardashian West founded KKW Beauty in 2017, following the success of her half-sister Kylie Jenner’s Kylie Cosmetics. Forbes stated in an article that, she borrowed from Kylie’s playbook, using a similar direct-to-consumer model that relies heavily on social media marketing. Her first launch, 300,000 contour kits, sold out within two hours. By 2018, the business had expanded into eyeshadows, concealers, lipsticks and fragrances, and was bringing in about $100 million in revenue, according to Forbes.
Skims is 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. (She now has 69.6 million Twitter followers and 213 million followers on Instagram.)
According to Forbes, Kardashian West 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.
The rest of Kardashian West’s fortune sits in cash and investments, including real estate. Forbes stated that, every year since 2012, she has earned at least $10 million pretax, thanks to paychecks from Keeping Up With the Kardashians, endorsement deals and endeavours 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.
