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Kim Kardashian is now a billionaire in her own right officially.
via Page Six:
Forbes announced her inclusion on the World’s Billionaires list for the first time Tuesday, citing her two lucrative businesses, KKW Beauty and Skims, as well as cash from “Keeping Up With the Kardashians” and endorsement deals.
Kardashian’s worth increased from $780 million in October to $1 billion.
The E! reality star launched KKW Beauty in 2017 after seeing the success of half-sister Kylie Jenner’s makeup company, Kylie Cosmetics.
“It’s the first time I’ve moved away from having licensing deals and transitioned into being an owner,” Kardashian told Forbes in 2017, when she announced her cosmetics line.
Kardashian, 40, went on to sell 20 percent of KKW Beauty to Coty for $200 million, which put the value of her company at $1 billion.
She launched shapewear company Skims in 2019 and pivoted it to include loungewear during the pandemic when women started leaning into cozier clothing while being quarantined. She holds a majority stake in the company, which hasn’t disclosed its revenues, Forbes reported.
When she landed the cover of Forbes for the first time, she quipped, “Not bad for a girl with no talent.”
The Forbes billionaires list faced drama when it named Jenner, now 23, as the youngest self-made billionaire. Critics blasted the “self-made” title, as Jenner had grown up in the already wealthy Kardashian-Jenner family.
“I really didn’t get it, because she is ‘self-made’ — we are all ‘self-made.’ What, because we came from a family that has had success? To me, that doesn’t really make sense,” Kardashian defended Jenner. “… I know so many people like that [who] haven’t turned out to be as successful as Kylie. If anything, I’ve seen the complete opposite.”
After including her on its list, Forbes released a report claiming she had faked her way to billionaire status thanks to bogus tax returns. The publication ended up yanking the title from Jenner.
Forbes estimated that Jenner was actually worth just under $900 million in May 2020 — a year after bestowing on her the youngest billionaire title at age 21.