Baller Alert Entertainment & Lifestyle
Kim Kardashian-West has officially been added to the World’s Billionaires List for the first time.
Kardashian West’s net worth has increased from $780 million in October to $1 billion currently, thanks to two profitable businesses—KKW Beauty and Skims—and cash from reality television and sponsorship deals and a host of smaller investments.
In 2017, Kim founded her KKW beauty shortly after her sister Kylie Jenner released her Kylie products. Her initial launch of 300,000 contour kits sold out in less than two hours. By 2018, the company had expanded into eyeshadows, concealers, lipsticks, and fragrances and had a turnover of about $100 million.
Kim told Forbes in 2017, “It’s the first time I’ve moved away from having licensing deals and transitioned into being an owner,” when announcing her cosmetic line.
Last year, she reaped the rewards of her own when she sold 20% of KKW Beauty to cosmetics giant Coty for $200 million, valuing the company at $1 billion. While Forbes believes that figure is inflated, they know that Coty is known for overpaying, but her remaining 72% stake is still worth around $500 million.
Then there’s Kardashian West’s shapewear collection, Skims, which debuted in 2019. She raised money from fashion insiders, including Natalie Massane of Net-a-Porter and Andrew Rosen of Theory, and used her huge social media following to promote the brand.
Kardashian West holds a controlling interest in Skims, a source close to Skims told Forbes about a deal worth more than $500 million for the shapewear business. As a result, Forbes reports that her Skims interest is worth $225 million, taking her net worth to $1 billion.
The remainder of Kardashian West’s fortune is invested in cash and real estate. According to Forbes, she has made at least $10 million pretax per year since 2012. She also owns three homes in Calabasas and a blue-chip investment portfolio that includes Disney, Amazon, Netflix, and Adidas stock.
But it’s the businesses she’s established that have propelled her to the top of the World’s Billionaires list. “Not bad for a girl with no talent,” she tweeted the day she made the cover of Forbes, mocking the criticism she’d been receiving for years.
