BEVERLY HILLS, April 07, (THEWILL) – According to Forbes magazine, American media personality and estranged wife of Kanye West, Kim Kardashian, has officially become a billionaire.
Forbes, disclosed this in a blog post on Tuesday saying that the reality TV star now has a net worth of $1 billion which is an increase from $780 million in October last year.
The magazine stated that Kim became a billionaire due to her booming businesses —KKW Beauty and Skims and earnings from reality shows and endorsement deals from a number of small investments.
Kim established KKW Beauty in 2017 after the success of Kylie Cosmetics, owned by her younger sister, Kylie Jenner.
The company continued to grow after witnessing an expansion the following year during which it acquired a total of $100 million.
The reality star also launched Skims in 2019 and used her huge social media following to promote the business.
Kim sold 20 percent of KKW Beauty to Coty for $200 million last year, which made the value of her company at $1 billion. Although, Forbes stated that the figure was “a little bloated”.
“The rest of Kardashian West’s fortune sits in cash and investments, including real estate. Every year since 2012, she has earned at least $10 million pretax, by Forbes’ count, thanks to paychecks from ‘Keeping Up With the Kardashians’, endorsement deals and endeavors like the aforementioned mobile game and her now-defunct Kimoji app,” Forbes said.
“She’s also got three properties in Calabasas, northwest of Los Angeles, and a portfolio of blue-chip investments, including shares of Disney, Amazon, Netflix and Adidas that her soon-to-be ex-husband Kanye West gifted her for Christmas in 2017.
“But it’s the companies that she has launched herself, and grown with the typical Kardashian flare for self-promotion,that land her on the World’s Billionaires list.”