Reality TV star, Kim Kardashian, has been declared a billionaire according to Forbes, who made the announcement on Tuesday, April 6, 2021.
According to Forbes, Kim was first mentioned in 2011 when she was at $6.6 million and five years later, she amounted to $51 million, thanks to her mobile game.
Kim has two major lucrative businesses, her beauty line, KKW Beauty and underwear brand, Skims, co-owned by her estranged husband, Kanye West. She also has funds made from the family reality show, “Keeping Up With the Kardashians” as well as endorsement deals.
The Kardashian princess’ worth was at $780 million in October 2020 but is currently at $1 billion.
The mother of four launched her own beauty line, KKW Beauty in 2017 following her sister, Kylie’s path.
Her first launch, 300,000 contour kits, sold out within two hours. By 2018, the business had expanded into eyeshadows, concealers, lipsticks and fragrances, and was bringing in about $100 million in revenue.
She told Forbes in 2017 when she announced her launch. “It’s the first time I’ve moved away from having licensing deals and transitioned into being an owner.”
Kim recently sold off 20% of her KKW cosmetic line to a cosmetic conglomerate Coty and the deal pushed the entrepreneur’s company value to $1 billion.
She launched her shapewear company Skims in 2019, then partnered with rapper and father of her children, Kanye West, in the shapewear line.
Kim focused on making underwear comfortable for the pandemic and for women during the lockdown. She holds a majority stake in the company, which hasn’t disclosed its revenues, Forbes reported.
A source familiar with Skims told Forbes about a transaction that values the shapewear company north of $500 million. As a result, Forbes estimates her Skims stake is worth a conservative $225 million, enough to lift her fortune to $1 billion.
According to Forbes, Kim has earned at least $10 million pretax, thanks to paychecks from Keeping Up With the Kardashians, mobile game, endorsement deals, and her now-defunct Kimoji app since 2012.
Kim also has investments and real estates. She has three properties in Calabasas, northwest of Los Angeles, a portfolio of blue-chip investments, including shares of Disney, Amazon, Netflix, and Adidas that Kanye West bought for her as Christmas gift in 2017.
Kim Kardashian is now a billionaire like her estranged husband, Kanye West, and sister, Kylie Jenner.
Recall that Kylie was declared a billionaire in 2019 and was also referred to as the youngest “self made” billionaire.
The mother of four has been on vacation with her children paying no attention to the divorce scandal.