Kim Kardashian turns 40 1:32
New York (CNN Business) – Kim Kardashian West joins the ranks of Jeff Bezos, Elon Musk and other moguls: She is officially a billionaire, according to Forbes.
Forbes released its annual list of billionaires on Tuesday, including Kim Kardashian West for the first time. The magazine said Kardashian’s booming businesses, KKW Beauty and Skims, helped position her above the billionaire mark by adding her television show and endorsement deals.
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Kim Kardashian West launched KKW Beauty in 2017. Coty acquired a 20% stake in the cosmetics line in a deal last year that valued the business at $ 1 billion. Forbes said its remaining stake in the business is worth about $ 500 million.
There is also his other business: Skims, a collection of shapewear and swimwear. Forbes says it has a majority stake in the private company, which has not disclosed its earnings. However, a source told the magazine that the company is valued at “more than half a million dollars.” That means your stake is potentially worth $ 225 million, which is “enough to raise your fortune to $ 1 billion,” according to Forbes.
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Kardashian West also has cash assets, investments, and real estate. And although the long-running family show on E! is about to end, the new agreement with Hulu to create content will keep the money flowing from television.
It is not the first time that the Kardashian-Jenner family has appeared on a Forbes list. Previously, Forbes sparked controversy by crowning her younger sister Kylie Jenner as the youngest self-employed billionaire in history, aged 21. Critics argued that Jenner cannot be considered to have done it on her own because she comes from a wealthy and well-known family.
Kardashian West filed for divorce from Kanye West in February, citing irreconcilable differences. Kanye’s fortune is about $ 6.6 billion, and most of his wealth is tied to his clothing businesses.