Forbes Estimates Kim Kardashian Is Now A Billionaire!
According to the publication’s calculations, Kim Kardashian is now worth $1 billion thanks to her beauty and shape wear lines.
Forbes reported that Kim Kardashian was worth just $780 million in October, but the profits from her KKW Beauty and Skims lines have helped to catapult her into billionaire status. The magazine also reports that her reality television appearances and endorsement deals have played a part in her success as well.
Kim Kardashian founded KKW Beauty back in 2017 and was reportedly raking in about $100 million annually since it’s launch–that is intel she sold 20% of her ownership stake to beauty conglomerate Coty. The sale doubled her earnings to $200 million a year.
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“It’s the first time I’ve moved away from having licensing deals and transitioned into be an owner,” Kim told Forbes in 2017.
The business magazine says it determines a person’s wealth using stock prices and exchange rates from March 5, 2021. “We value a variety of assets, including private companies, real estate, art and more. We don’t pretend to know each billionaire’s private balance sheet although some provide it. When documentation isn’t supplied or available, we discount fortunes,” it notes in its methodology.
Now let’s talk about one of her newest ventures–Skims. KKW’s shape wear line definitely brought some controversy upon its initial rollout, but it looks like it’s bringing in more cash than drama now. According to Forbes, Kim Kardashian holds a majority stake in the company, which is reportedly worth about $500 million.
Kim Kardashian is not the first member of her star-studded family that Forbes has crowned a billionaire. The publication reported that Kanye West was the newest billionaire on the block back in April 2020 thanks to his Yeezy clothing and shoe brand.
Forbes also called out Kylie Jenner last year for allegedly lying about her own billionaire status.
