Forbes Names Kim Kardashian A Billionaire
- Anu
- April 7, 2021
- Celebrity, News
- Forbes Names Kim Kardashian A Billionaire
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Kim Kardashian West is officially a billionaire joining the likes of Elon Musk and Jeff Bezos.
Forbes released its annual “World’s Billionaire List” Tuesday, which placed West on the elite list for the first time. The magazine said West’s booming businesses, KKW Beauty and Skims, helped put her over the top to achieve the billionaire benchmark when added to her television show and endorsement deals.
The magazine values the 40-year-old’s net worth at $1 billion, up from $780 million in October.
Kardashian West founded KKW Beauty in 2017. She looked to half-sister Kylie Jenner for inspiration, according to Forbes, following the success of Kylie Cosmetics.
Both businesses rely heavily on the siblings’ vast social media followings.
Announcing her cosmetics line in 2017, Kardashian West told Forbes: “It’s the first time I’ve moved away from having licensing deals and transitioned into being an owner.”
Kardashian West sold 20% of KKW Beauty to cosmetics giant Coty last year for $200 million, in a deal valuing the business at $1 billion.
However, Forbes said that figure might be bloated, as Coty is known for overpaying, and said Kardashian West’s remaining 72% stake is worth about $500 million.
Her stake in Skims, a shapewear company, is valued by the magazine at a “conservative” $225 million.
Kardashian West also holds assets in cash, investments, and real estate. And though the family’s long-running E! show is about to end, a new deal with Hulu to create content will keep the TV money flowing.
It’s 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. Critics argued Jenner can’t be considered self-made because she comes from a wealthy, well-known family.
