Thursday, April 8, 2021

Kim Kardashian West Makes Forbes’ Billionaires List For The First Time

Kim Kardashian West is officially now a billionaire with a net worth of $1 billion, according to Forbes business magazine.

TheGuardian

The American media personality and businesswoman made the Forbes’ annual “World’s Billionaire List” for the first time on Tuesday. 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.

Kardashian West launched KKW Beauty in 2017, and Coty acquired a 20% stake in the cosmetics line in a deal last year that valued the business at $1 billion. Forbes said her remaining stake in the business is worth about $500 million.

Her other business, Skims, a collection of figure-hugging shapewear and bodysuits. Forbes said she has a majority stake in the private business, which hasn’t disclosed revenue — but a source told the magazine the company is valued “north of $500 million.” That means her stake is possibly worth $225 million, which is “enough to lift her fortune to $1 billion,” according to Forbes.

Kardashian West also holds assets in cash, investments and real estate. Forbes added that she earned at least $10 million pretax every year since 2012, thanks to paychecks from “Keeping Up With the Kardashians,” endorsement deals and endeavors like 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.

But Forbes maintained that it is the companies that Kardashian West launched herself that landed her on the World’s Billionaires list.


No comments:

Post a Comment