Earning $600 million a year, how did Kim Kardashian build a billion-dollar fortune?
Kim Kardashian owns a fortune of 1.8 billion USD, an increase of 600 million USD compared to last year.
Forbes magazine has just announced a list of the richest self-made women in America 2022. Actress Kim Kardashian ranked 16th in the Top 100 with a fortune of 1.8 billion USD. Compared to last year’s rankings, the assets of this star born in 1980 has increased by 600 million USD. (Photo: Forbes )
According to Forbes , Kim Kardashian has become richer over the past year thanks to the success of her Skims shapewear line. In January this year, Skims raised $240 million in a funding round, led by billionaires Stephen Mandel and Josh Kushner. The company’s valuation doubled in less than a year, to $3.2 billion. (Photo: Forbes )
Most of Kim Kardashian’s assets come from cosmetics company KKW Beauty and lingerie brand Skims. Besides, she also makes money through TV shows, advertising contracts and other investments. (Photo: Instagram Kim Kardashian )
Kim Kardashian once shared that she had a “blood” for business since she was in high school. While working part-time at her father’s law office, she fell in love with fashion and shopping. Kim’s father promised to lend her money to buy things if she could pay him the interest. (Photo: Getty Images )
At that time, Kim noticed that the high heels that Jennifer Lopez owned were priced at 700 USD and knew that this model would soon be sold out. She immediately bought 5 pairs and then sold them on eBay for $2,500/pair. The profits from this business made Kim decide to clean up her closet and sell the unused items. (Photo: Getty Images )
After her younger sister Kylie Jenner’s success with Kylie Cosmetics, Kim founded the cosmetics brand KKW Beauty in 2017. She learned from Kylie’s business model that focuses on social media marketing and direct access to consumers. During the first launch of the product, 300,000 make-up kits were sold out in 2 hours. (Photo: Vanity fair ).
By 2018, the company promoted additional lines of eye shadow, concealer, lipstick and perfume, earning a profit of 100 million USD after one sales season. In 2020, Kim sold 20% of KKW Beauty shares to cosmetics giant Coty for $200 million. (Photo: KKW Beauty )
In 2019, Kim launched the defining fashion line Skims, raising capital from prominent investors in the industry such as Net-a-Porter’s Natalie Massane and Theory’s Andrew Rosen. Kim has made the most of her social media followers to promote her brand. Clearly understanding the psychology of consumers preferring comfortable clothes at home instead of floor-length evening dresses during this epidemic, Kim has promoted home fashion. This is considered a very smart direction. (Photo: Skims )
Besides business, Kim became known to the audience and the media after she and her family participated in the hit show Keeping Up with the Kardashian . According to Forbes , from 2012 onwards, Kylie Jenner’s sister pocketed at least $10 million before taxes thanks to her remuneration for participating in this reality TV show and advertising contracts. Kim also owns many real estate and other investments. (Photo: E! Entertainment )
In July 2020, Kim Kardashian’s assets became a controversial topic. The family announced on Twitter that the TV star had reached the billion dollar mark after selling 20% of KKW Beauty shares to Coty. This contract means that Kim Kardashian’s company is valued at one billion USD. However, Forbes magazine confirmed that Kim’s assets only reached 780 million USD and denied her billionaire title. Experts argue that beauties do not hold all the shares of the KKW Beauty brand. (Photo: Getty Images )
By April 2021, Forbes officially included Kim on the list of world billionaires. In the past, the Kardashian and Forbes families have argued many times about the wealth of the stars in the house. (Photo: AFP )
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