Kim Kardashian is officially a billionaire in dollars – Forbes

Kim Kardashian West is joining the ranks of Jeff Bezos, Elon Musk and other moguls: She is officially a billionaire, according to Forbes. Forbes released its annual “World’s Billionaire List” Tuesday, which placed West on the elite list for the first time.

The magazine said West’s booming businesses, KKW Beauty and Skims, helped put her over the top to achieve the billionaire benchmark when added to her television show and endorsement deals. Kardashian West launched KKW Beauty in 2017, and Coty (COTY) acquired a 20% stake in the cosmetics line in a deal last year that valued the business at $1 billion. Forbes said her remaining stake in the business is worth about $500 million.

There’s also her other business: Skims, a collection of figure-hugging shapewear and bodysuits. Forbes said she has a majority stake in the private business, which hasn’t disclosed revenue — but a source told the magazine the company is valued “north of $500 million.” That means her stake is possibly worth $225 million, which is “enough to lift her fortune to $1 billion,” per Forbes.

Kardashian West also holds assets in cash, investments and real estate. And though the family’s long-running E! show is about to end, a new deal with Hulu to create content will keep the TV money flowing.

It’s not the first time the Kardashian-Jenner family has appeared on a Forbes list. The magazine previously sparked controversy for crowning her younger sister Kylie Jenner the youngest ever self-made billionaire at 21 years old. Critics argued Jenner can’t be considered self-made because she comes from a wealthy, well-known family.

In February, Kardashian West filed for divorce from Kanye West, citing irreconcilable differences. Kanye himself is worth a reported $6.6 billion with the vast majority of his wealth tied in his apparel businesses.

-CNN

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

No comments yet... Be the first to leave a reply!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: