According to a Forbes estimate, the reality television actress and entrepreneur is now worth $1 billion, up from $780 million in October, landing her a spot on the publication’s World’s Billionaires List.
According to Forbes, Kardashian West’s “two successful enterprises,” the cosmetics brand KKW Beauty and the shapewear company Skims, are chiefly responsible for her quick ascent to the ten-figure mark.
The business publication declares that as of March 5, 2021, stock prices and exchange rates will be used to calculate a person’s worth. “We value a wide range of assets, such as privately held businesses, real estate, artwork, and more. We don’t claim to be familiar with each billionaire’s personal balance sheet (though some provide it). We discount fortunes when documentation isn’t provided or readily available, it says in its process.
This isn’t the first time a celebrity from the “Keeping up with the Kardashians” family has briefly made the billionaires list.
Kylie Jenner, the sister of Kardashian West, was dubbed the youngest self-made millionaire by Forbes in March 2019, however the distinction did not last long. Forbes disputed its own assessment in May 2020, claiming that Kylie’s Cosmetics, owned by Jenner, was “much smaller and less profitable” than the family’s previous roles as media moguls and leaders of the cosmetics business.
Forbes used documents filed by Coty, Inc., a publicly traded company that invested $600 million in Kylie Cosmetics in November 2019.
Kylie Jenner made one of the biggest celebrity cash-outs in history when she sold 50 percent of her cosmetics business. The fine language of the agreement, however, discloses that she has been exaggerating the scope and performance of her company. Years,” the report said, revising its previous estimate of her net worth to “slightly under $900 million.”
On social media, the 22-year-old discussed the rejection.
What exactly am I waking up to? I assumed this was a reliable site, but all I see are a lot of unfounded claims and conjectures, lol. I’ve never tried to get there by lying or asking for a title. in general,” she tweeted.
Yet Kardashian West appeared to borrow some strategies from Jenner’s playback. Three years after Jenner debuted Kylie’s Cosmetics, KKW Beauty was created.
According to Forbes, Kardashian West also gave Coty a 20% share in her makeup line last year in exchange for $20 million, valuing the business at $1 billion. In order to avoid making the same error twice, Forbes reported that Coty “is infamous for overpaying” and that the “number is a little bloated.” According to this estimation, Kardashian West still has a 72% share that is worth $500 million.
After launching Skims in 2019, Kardashian West soon changed the company’s focus to loungewear as the COVID-19 pandemic drove more people indoors and raised the need for comfortable clothing. Despite the fact that Skim’s earnings are unknown, Forbes pegs the value of her stock at a “conservative $225 million.”
To USA TODAY, a Kardashian West spokesman declined to comment.
Although though Kardashian West is busy running her businesses and collecting paychecks, this year hasn’t been easy for her.
Following nearly seven years of marriage, the celebrity filed for divorce from Kanye West in February, according to Kardashian West’s agent Christy Welder, who confirmed the news to USA TODAY. Daughter North, age 7, son Saint, age 5, daughter Chicago, age 3, and boy Psalm, who turns 2 in May, are the couple’s four children.
Kanye West, a musician and businessman, is listed among the $1 billion+ billionaires on Forbes’ 2021 World’s Billionaires List.
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