Kim Kardashian has officially joined the World’s Billionaires league according to Forbes Report Tuesday. The reality TV star inclusion on the list follows the success of her two lucrative businesses, KKW Beauty and Skims, as well as payments from her family show “Keeping Up With the Kardashians” and other endorsement deals.
Kim’s total worth skyrocketed from $780 million in October to $1 billion, officially making her one of the World’s Billionaires
Kim Kardashian officially launched KKW Beauty in 2017 after realizing how lucrative the business is and also seeing that her younger sister Kylie Jenner’s makeup company, Kylie Cosmetics was doing beautifully well.
“It’s the first time I’ve moved away from having licensing deals and transitioned into being an owner,” Kim told Forbes in 2017 when she launched her cosmetics line.
The 40-year-old reality TV star sold 20 per cent of KKW Beauty to Coty for $200 million, which brought the value of her company to $1 billion.
Kim Kardashian launched her shapewear company Skims in 2019 and later expanded it to include loungewear last year when women started leaning into cosier clothing while being quarantined the pandemic.
Kim also holds a majority stake in the Skims company but has not yet disclosed the company’s revenues, according to Forbes. When Kim first appeared on the cover of Forbes, she said, “Not bad for a girl with no talent.”
The Forbes billionaires list had first listed Kylie Jenner as the youngest self-made billionaire, but critics slammed the “self-made” tag, arguing that Kylie had grown up in the already-wealthy Kardashian-Jenner family.
“I really didn’t get it, because she is ‘self-made’ — we are all ‘self-made.’ What, because we came from a family that has had success? To me, that doesn’t really make sense,” Kardashian defended Jenner.”
I know so many people like that, who haven’t turned out to be as successful as Kylie. If anything, I’ve seen the complete opposite.”
Not long after listing Kylie as a billionaire, Forbes released another report claiming she had faked her way to billionaire status following a bogus tax returns report. The billionaire title was then removed.
And Kylie was estimated to worth about $900 million in May 2020.