American reality star, Kim Kardashian is now a billionaire.
On Tuesday, April 6, Forbes announced Kim Kardashian’s inclusion in the World’s Billionaires list for the first time, citing her two lucrative businesses, KKW Beauty and Skims, as well as cash from “Keeping Up With the Kardashians” and endorsement deals.
Kim’s worth increased from $780 million in October to $1 billion.
The mother of four launched KKW Beauty in 2017 after seeing the success of half-sister Kylie Jenner’s makeup company, Kylie Cosmetics.
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, went on to sell 20 percent of KKW Beauty to Coty for $200 million, which put the value of her company at $1 billion.
She launched shapewear company Skims in 2019 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.
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.
She launched shapewear company Skims in 2019 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.
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.
