Kim Kardashian Is a Billionaire Now
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Kim Kardashian has risen above Kylie Jenner in net worth and is officially a billionaire now, according to Forbes. The outlet reported that Kardashian has made their World’s Billionaire List, with her estimated net worth going from $780 million in October 2020 to $1 billion now, due largely to her Skims shapewear and KKW Beauty businesses. The outlet noted that Kardashian additionally has “cash from reality television and endorsement deals, and a number of smaller investments” propelling her net worth.
The outlet noted that it estimates Kardashian’s stakes in Skims and KKW Beauty to be worth about $225 million and $500 million respectively, despite higher estimations being shared by sources or in other reporting.
In the case of KKW Beauty particularly, Forbes wrote that its 2020 reported $1 billion valuation “is a little bloated.” Coty bought a 20 percent stake in KKW Beauty and “is known for overpaying,” Forbes wrote of the publicly-held beauty company.
Forbes famously revoked the billionaire status of Kardashian’s younger sister Kylie Jenner last May because the brand’s numbers were inflated.
The outlet reported then that Jenner’s beauty company Kylie Cosmetics “is significantly smaller, and less profitable than the family has spent years leading the cosmetics industry and media outlets to believe” after reviewing filings from Coty, to which Jenner sold 51 percent of her beauty line Kylie Cosmetics.
Forbes also wrote that the Kardashian-Jenners went to great lengths to convince people of their wealth, inviting Forbes “into their mansions and CPA’s offices, and even creating tax returns that were likely forged.”
Jenner responded to Forbes taking away her billionaire title on her Twitter, insulting the outlet then insisting she didn’t care (even though she tweeted four times about it). “What am i even waking up to,” Jenner started. “I thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period.
“‘Even creating tax returns that were likely forged’ that’s your proof?” Jenner continued. “So you just THOUGHT they were forged? like actually what am i reading. but okay. i am blessed beyond my years, i have a beautiful daughter, and a successful business and i’m doing perfectly fine. i can name a list of 100 things more important right now than fixating on how much money i have.”
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