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Wednesday, April 14, 2021
Home Latest News Entertainment Kim Kardashian officially joins the billionaire group, Forbes

Kim Kardashian officially joins the billionaire group, Forbes

Kim Kardashian, according to Forbes has officially joined the 10-figure club for the first time, and this is all thanks to incredibly successful makeup and shapewear lines.

The magazine puts Kim K’s net worth at a cool billion bucks, up from around $780 million when it was last checked in October.

The Forbes team explained that Kim’s cosmetics line, KKW Beauty, and her SKIMS brand played a huge role in the increased wealth.

According to them, since KKW Beauty was launched in 2017, it has been bringing in about $100 mil annually, and when Kim also made a massive $200 million when she sold 20% of her ownership stake in the company to beauty conglomerate Coty.

Forbes also reveals that Kim’s remaining 72% stake in the company is worth around $500 million.

SKIMS on the other hand has yet to disclose its financials according to Forbes, but the magazine believes Kim’s ownership stake to be around $225 million.

The rest of the money that accounts for Kim Kardashian’s billion sits in cash and other investments which include real estate.

Forbes also says Kim has been receiving a sum of $10 million a year (pre-tax) from ‘KUWTK’ endorsement deals and other business ventures she had delved into over time and that sum is just the least they could figure out.

Kim has now joined her estranged husband Kanye West, and sister, Kylie Jenner in the billionaire league although she is yet to comment on her new status.

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