Kim Kardashian is now officially a billionaire.
In a publication today, Forbes announced that Kardashian has reached billionaire status as her net worth soars into the $1 billion range. In October 2020, she was worth an estimated $780 million and running two major lucrative businesses.
How Kim Kardashian became a billionaire
According to Forbes, it is largely revenue from the two businesses that she launched herself and grew that have increased her net worth. The two businesses are KKW Beauty and Skims. She launched KKW in 2017 and used a direct-to-consumer approach to market its products. By 2018, the business had expanded into concealers, eyeshadows, fragrances and lipsticks and was raking in about $100 million in revenue annually.
Kardashian sold 20% of KKW Beauty to Coty, an American beauty conglomerate, for $200 million at a valuation of $1 billion. The valuation was higher than expected, Forbes said, while also emphasizing Coty’s reputation for overpaying. Her remaining 72% stake in the cosmetics company is worth an estimated $500 million.
Kim Kardashian has three properties in Calabasas, Los Angeles, and shares in Disney, Amazon, Netflix and Adidas
Skims, on the other hand, is her shapewear brand that was launched in 2019. It has shifted attention to loungewear, however, as people’s interests in fashion have switched to comfortable wears due to the covid-19. Skim’s revenue is not disclosed but Forbes estimates that her stake is worth a “conservative $225 million.”
She has other investments in businesses including real estate. Paychecks from Keeping Up With the Kardashians, endorsement deals and ventures like her now-defunct Kimoji app has generated a stream of no less than $10 million pretax, by Forbes’ count.
In February, the “keeping up with the Kardashians” star filed for divorce from Kanye West after almost seven years of marriage.