Like her or not, there’s no denying that Kim Kardashian is successful. That success has earned her a spot on Forbes Magazine’s World’s Billionaires List.
But it’s not her reality stardom, massive social media following, or well-publicized marriage to rapper Kanye West that helped Kardashian rank on the Forbes list with the likes of Elon Musk, Jeff Bezos, Bill Gates and Warren Buffett.
It’s her savvy business dealings. Here's a roadmap to how Kim Kardashian joined the Billionaire Club.
Kim Kardashian’s net worth crossed the ten-digit threshold recently.
Kardashian has built her wealth primarily through her cosmetic line, KKW Beauty, and her shapewear line, Skims. Since last October, the 40-year-old reality star has seen her net worth jump from $780 million to $1 billion, Forbes reported.
Kim Kardashian’s KKW Beauty line is the biggest asset.
Forbes estimates that KKW Beauty is valued at $1 billion. Kardashian started the company in 2017 with one product, a creme contour kit priced at $48. All 300,000 kits sold within two hours of being offered for sale.
Kardashian expanded the line and, by 2018, it was bringing in $100 million in revenue, Forbes reported. Like her sister Kylie Jenner’s cosmetic line, KKW Beauty is a direct-to-consumer company primarily promoted through social media. That’s a good move for Kardashian, who currently has over 69.6 million Twitter followers and 213 million Instagram followers.
Last year, Kardashian sold 20 percent of the company to cosmetic company Coty for $200 million. Kardashian’s remaining 72 percent stake in the company is worth about $500 million, Forbes estimates.
Kim Kardashian’s Skims Shapewear line also accounts for a lot of wealth.
Forbes estimates that Kardashian’s shapewear line, Skims, is worth about $225 million.
Founded in 2019, the company made a smart move to turn its focus onto loungewear during the pandemic when most people worked from home in their sweatpants and comfy clothes.
Kim Kardashian’s other revenue streams include TV and her Instagram.
While KKW Beauty and Skims play a significant part in Kardashian’s billionaire status, revenue from the television show, Keeping Up with the Kardashians, endorsements on her social media platform, real estate holdings, and a portfolio of blue-chip investments add about $10 million yearly to her wealth, Forbes reports.
Twitter response to KK’s billionaire status is mixed.
After the Forbes list came out, Twitter users shared their pro- and anti-Kardashian opinions.
“Kim Kardashian is officially a billionaire. Y’all better respect the entrepreneur,” tweeted Anthony Pompliano in support of the reality star.
RD Hale had a differing opinion, “If capitalism rewarded hard work, nurses would be billionaires and Kim Kardashian would be queuing at a foodbank,” he tweeted.
“My timeline right now is 50 percent people yelling at each other about covid. 40 percent hockey fans arguing and the remaining 10 percent yelling about Kim Kardashian being named a Billionaire. So here’s a picture of my dog wearing a tiny backpack to brighten your day,” tweeted Sportsnet reporter Shawn McKenzie.
Kim Kardashian’s divorce from Kanye West doesn't seem to be a threat to her wealth.
After almost seven years of marriage, Kardashian filed for divorce earlier this year from husband rapper Kanye West. The couple has four children together: North, 7; Saint, 5; Chicago, 3; and Psalm West, 1.
West made Forbes’ 2020 World’s Billionaire List. According to a story in US Weekly, the couple sorted out their finances before divorce papers were filed.