It was rather inevitable, wasn’t it?
Forbes today announced that Kim Kardashian has joined their list of billionaires, due mostly to her wildly popular cosmetics line, KKW Beauty, and her SKIMS brand.
By their account, KKW Beauty was bringing in about $100 mil annually since its launch in 2017 — and when Kim sold 20% of her ownership stake in the company to beauty conglomerate Coty, that put a tidy sum of $200 mil in her back pocket. Forbes says the remaining 72% stake she still has in the company is worth around $500 million on its own.
Then there’s SKIMS which smartly pivoted to loungewear during the pandemic when women started wearing cozy quarantine clothing . She holds a majority stake in the company, which hasn’t disclosed its financials, but Forbes thinks her ownership stake is around $225 million.
The rest of her cash sits in cash and other investments — including real estate. Since 2012, Forbes says Kim’s been collecting at least $10 mil a year (pre-tax) from ‘KUWTK,’ endorsement deals and other biz ventures she waded into over time.
No word yet from Kim, but when she landed the cover of Forbes for the first time, she quipped, “Not bad for a girl with no talent.”