Forbes Has Officially Declared Kim Kardashian A Billionaire
In spite of the fact that she is in the middle of a divorce, Kim Kardashian has just been officially declared a billionaire by Forbes Magazine. The reality TV star has finally crossed the threshold and entered the world of billionaire status for the very first time, and she’s taking a moment to soak it all in. This is a huge step forward for the star, as her younger sister, Kylie Jenner has already achieved this status long before Kim. TMZ reports that the boost in her earnings from $780 million to $1 billion can be credited to hear cosmetics and shapewear line, along with earnings from the Keeping Up With The Kardashians series.
Kim Kardashian has certainly never been in need of money. Her finances have always been in order and her tremendous wealth has been flaunted on social media for the world to see for several years now.
Anything this starlet wants, she can get. This was especially true when she was married to Kanye West, at their net worth was joined and calculated as a couple.
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While her fans and followers have always noticed her incredible wealth and status, Kim Kardashian kept striving for greater financial success. After all, she had a sister and a husband that had made the list, and that put the pressure on for her to make it to the billionaire’s club as well. Now, standing alone, Kim has finally achieved her goal.
According to Forbes, she followed in Kylie’s footsteps to plot and cultivate her financial growth. They indicate that; “Kardashian West founded KKW Beauty in 2017, following the success of her half-sister Kylie Jenner’s Kylie Cosmetics. She borrowed from Kylie’s playbook, using a similar direct-to-consumer model that relies heavily on social media marketing.”
Cosmetics giant, Coty, played a huge role in elevating both Kylie and Kim to their current billionaire status. Kylie Jenner previously sold a chunk of Kylie Cosmetics to Coty for a huge payout, and Forbes had identified that Kim Kardashian did the very same thing.
They indicate that she; “cashed in on that ownership last year when she sold 20% of KKW Beauty to cosmetics conglomerate Coty for $200 million, a deal that valued the company at $1 billion.”
Also worth noting is the fact that Coty is known to overpay. They want what they want, and see the potential for earnings, so they aren’t afraid to foot some pretty big bills to have a stake in the massive merchandise lines of the likes of Kylie Jenner and Kim Kardashian.
Kim Kardashian also has a number of other assets including massive investments in real estate.
Now that she has officially entered the billionaires’ club, she’s likely to continue to strive for even higher earnings and greater success.
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Sources: TMZ, Forbes
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