Kim Kardashian, American media personality, has officially become a billionaire, according to Forbes magazine.
In a blog post on Tuesday, the business magazine said the reality TV star now has a net worth of $1 billion — an increase from $780 million in October last year.
Forbes attributed the feat to Kim’s booming businesses — KKW Beauty and Skims — as well as earnings from reality shows and endorsement deals and a number of smaller investments.
Kim founded KKW Beauty in 2017 following the success of Kylie Cosmetics, owned by Kylie Jenner, her younger sister.
The company continued to pull the strings shortly after witnessing an expansion the following year during which it raked in a total of $100 million.
She thereafter launched Skims in 2019 and leveraged on her huge social media following to promote the business.
The 40-year-old sold 20 percent of KKW Beauty to Coty for $200 million last year, which put the value of her company at $1 billion — although Forbes said the figure was “a little bloated.”
“The rest of Kardashian West’s fortune sits in cash and investments, including real estate. Every year since 2012, she has earned at least $10 million pretax, by Forbes’ count, thanks to paychecks from ‘Keeping Up With the Kardashians’, endorsement deals and endeavors like the aforementioned mobile game and her now-defunct Kimoji app,” Forbes said.
“She’s also got three properties in Calabasas, northwest of Los Angeles, and a portfolio of blue-chip investments, including shares of Disney, Amazon, Netflix and Adidas that her soon-to-be ex-husband Kanye West gifted her for Christmas in 2017.
“But it’s the companies that she has launched herself, and grown with the typical Kardashian flare for self-promotion, that land her on the World’s Billionaires list.”
Forbes had in 2019 named Jenner world’s youngest self-made billionaire but later withdrew the status, citing discrepancies in her actual net worth.
The spotlight has continued to beam on Kim and Kanye West, her husband, amid divorce efforts by the couple — about seven years after they tied the knot.
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