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Kim Kardashian is now officially a billionaire; she joined the Forbes 2021 list of the world’s billionaires. Almost five years after her first Forbes cover, Mrs. West earned a new accolade on Tuesday 6th of April when she became one of Forbes’ prestigious World’s Billionaires List for 2021 where she joined the likes of Jeff Bezos, Elon Musk, Bill Gates, Miuccia Prada, and Oprah Winfrey.
As a result of this new ranking from the magazine, it is estimated that according to calculations, Kim is now worth $1 billion. She can credit her new success to the KKW beauty brand and 2019 launches, SKIMS, including other profits and investments.
Kim Kardashian’s Gigs
Kim Kardashian started as a stylist and TV personality; she started the KKW Beauty in 2017 after her half-sister Kylie Jenner’s Kylie Cosmetics’ success. She borrowed from Kylie’s playbook; she used a similar direct-to-consumer model that makes use of social media marketing. She made her first launch of 300,000 contour kits which were sold out within two hours.
The business expanded into eyeshadows, concealers, lipsticks, and fragrances in 2018 which brought in $100 million in revenue.
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The Keeping up with Kardashian star had said to Forbes in 2017 that it is the first time she has moved away from having licensing deals and transitioned into being an owner.
She made it from being an owner last year when she sold 20% of the KKW Beauty Brand to cosmetics conglomerate, Coty, for a sum of $200 million. The deal valued the company at $1 billion. Meanwhile, Forbes estimates that figure is a little blown up as Coty, who also bought Kylie Cosmetics in 2020, is known for overpaying. The remaining 72% of the brand is still worth about $500 million by Forbes’ count.
Kim Kardashian – Skims Line
SKIMS is a shapewear line that was launched in 2019. Kim Kardashian raised money from participants like Natalie Massane and Andrew Rosen. She took advantage of her massive social media followers to build the brand. She presently has 69.9 million Twitter followers and 213 million Instagram followers.
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When consumers became interested in comfy clothes during the pandemic, Kim changed the focus of SKIMS into loungewear. The 40-year-old mother owns a majority of SKIMS whose revenue has not been disclosed. A source told Forbes about a transaction that values the shapewear brand at $500 million. With this information, Forbes estimates that SKIMS is worth a conservative $225 million which is enough to make her a billionaire.
Kanye’s Ex Has Real Estate Investments Too
The rest of the Keeping up with the Kardashians star’s fortune lies in cash and investments which includes real estate. According to Forbes’ count, she has earned at least $10 million pretax every year since 2012. This is thanks to the paychecks from Keeping up with the Kardashians endorsement deals and other businesses like the mobile game and the now-defunct Kimoji app. She has three properties in Calabasas, Los Angeles, and a lot of blue-chip investments which include shares in Disney, Amazon, Netflix, and Adidas gifted to her by her soon-to-be ex-husband during Christmas in 2017.
Meanwhile, Mrs, West has not yet publicly announced her new billionaire status, she is not the only one to make the list in her family as her soon-to-be ex-husband is ranked higher by a $1.8 billion net worth.