Kim Kardashian Joins The Billionaire Member Club
The TV reality becomes a billionaire one year after her sister, Kylie Jenner, got taken off the global exclusive list.
Kim Kardashian West is now a billionaire. The reality TV star saw her net worth surge from US$780 million last October to US$1 billion this month, as reported by Forbes. Her main two sources of income are her cosmetics and clothing lines: KKW Beauty and Skims. Aside from her personal ventures, Kardashian West also rakes in millions from her participation in the reality TV show, Keeping Up With The Kardashians, various endorsement deals, investments and properties.
First launched in 2017 and following the footsteps of her sister, Kylie Jenner’s Kylie Cosmetics, Kardashian West’s KKW Beauty also utilised the direct-to-consumer (DTC) model. Leveraging on her immense 213 million Instagram followers, KKW Beauty’s inaugural contour kits sold out within two hours. In the following year, its product range has runs the gamut of eyeshadows, concealers, lipsticks and fragrances. The success of KKW Beauty caught the attention of beauty conglomerate Coty, which bought a 20% stake for US$200 million, this values the company at US$1 billion. Similarly, Coty has also bought 51% of Kylie Cosmetics in 2020.
On her shapewear line, Skims, Kardashian West founded the company in 2019. Similar to her beauty line, Skims also uses the DTC model. While the company doesn’t disclose financials, it is estimated to be worth US$225 million. That is not surprising because as the majority of the world went into lockdown, many are demanding more loungewear and Skims is quick to jump on the bandwagon to produce them.
Earlier this year, Kardashian West has filed for divorce from her husband, Kanye West, citing irreconcilable differences. Her soon-to-be ex-husband has gifted shares of Disney, Amazon, Netflix and Adidas, which helped to propel her net worth to reach the billion dollar mark.
If you are done with this article, check out our piece on the Top 10 Richest Women in the World.