Forbes reported, Kim Kardashian is now officially a billionaire
Reality TV star and fashion and beauty guru Kim Kardashian West has appeared on the Forbes World's Billionaires List for the first time.
Kim Kardashian named a billionaire by Forbes
Forbes announced her inclusion on the World’s Billionaires list for the first time Tuesday, citing her two lucrative businesses, KKW Beauty and Skims, as well as cash from “Keeping Up With the Kardashians” and endorsement deals.
Kardashian’s worth increased from $780 million in October to $1 billion.
Though Skims does not disclose its revenues, an unnamed source familiar with its revenues told Forbes about a transaction that valued the company at $500 million; Kardashian West is reportedly a majority owner in Skims, with Forbes estimating her stake at around $225 million, which helped boost her to the $1 billion list.
The rest of her fortune is reportedly made up of cash and investments -- including shares in blue-chip stocks such as Disney, Amazon, Netflix and Adidas reportedly gifted to her by 'Ye in Christmas 2017 -- as well as real estate and at least $10 million in pre-tax earnings every year since 2012 from KUWTK, endorsement deals, mobile games and apps.
The Keeping Up With the Kardashians star joins the World's Billionaires list for the first time after bumping her net worth from $780 million in October to the full bil, thanks to her two lucrative fashion/make-up lines: KKW Beauty and Skims.
She reportedly pulled in $200 million last year after selling 20% of KKW Beauty to cosmetics giant Coty in a deal that valued the company at $1 billion, putting her on par with little sister and reported fellow billionaire Kylie Jenner's mega-successful Kylie Cosmetics. The magazine noted that Kim's shapewear line Skims -- launched in 2019 -- blew up during the COVID-19 pandemic when it nimbly shifted from curve-smoothing pieces to loungewear as people settled into wearing their comfortable clothes all day every day.