American reality TV star Kim Kardashian is officially a billionaire.
Forbes announced her inclusion on the World’s Billionaires list for the first time on Tuesday, April 6, 2021, citing her two lucrative businesses, KKW Beauty and Skims, as well as cash from “Keeping Up With the Kardashians” and endorsement deals.
Kardashian’s worth increased from $780 million in October to $1 billion. She launched KKW Beauty in 2017. The mother of four sold 20 per cent of KKW Beauty to Coty for $200 million.
She launched shapewear company Skims in 2019 and pivoted it to include loungewear during the pandemic when women started leaning into cozier clothing while being quarantined.
She holds a majority stake in the company, which hasn’t disclosed its revenues, Forbes reported.
A source familiar with Skims told Forbes about a transaction that values the shapewear company north of $500 million. As a result, Forbes estimates her Skims stake is worth a conservative $225 million, enough to lift her fortune to $1 billion.