Kim Kardashian Officially Reaches Billionaire Status, 'Forbes' Says04/06/2021
Kim Kardashian West is officially a billionaire. The 40-year-old reality star landed on Forbes‘ World’s Billionaires list for the first time on Tuesday, with a net worth of $1 billion.
The outlet reports that Kim’s monetary worth rose from $780 million in October 2020 to its current $1 billion due to her KKW Beauty and Skims brands, as well as cash from reality TV and endorsement deals, and other investments.
Forbes reports that, after Kim sold 20 percent of her beauty brand to Coty last year for $200 million, her remaining 72 percent KKW Beauty stake is worth about $500 million. As for Skims, the outlet estimates that the brand itself is valued at $500 million, while Kim’s stake is less than half that at $225 million.
Kim’s remaining monetary worth comes from her Keeping Up with the Kardashians paychecks, endorsement deals, real estate, investments in companies including Disney and Netflix, and other various endeavors.
Kim’s estranged husband, Kanye West, was also new to the billionaires list this year, with a net worth of $1.8 billion. His monetary worth is largely thanks to his Yeezy brand’s deals with Adidas and Gap, and his stake in Skims.
While Forbes has officially welcomed Kim into the billionaire club now, Kanye claimed she reached that milestone back in June 2020 with KKW Beauty’s Coty deal.
By either timeline, Kim is the second member of her family to reach billionaire status, following her sister, Kylie Jenner’s, 51 percent sale of her Kylie Cosmetics business to Coty for $600 million in 2019.
Source: Read Full Article