Kim Kardashian West Is Officially Named a Billionaire By Forbes
The Kardashian-Jenner family is known for a lot of things, and their wealth is often at the top of this list. While it is no secret that they are extremely wealthy, most of its members are nowhere near the billionaire title.
However, Kim Kardashian West has managed to climb her way to the top these past several years. According to Forbes, she now has a ten-digit net worth.
Kim Kardashian West has founded successful businesses
Kardashian West rose to fame as a reality TV star with the rest of her family. While this job has given her a high salary, much of her financial success actually comes from being a businessperson.
In 2017, Kardashian West launched her makeup company, KKW Beauty. Many of its items sold out instantly, and the brand has been a big hit with beauty gurus.
Two years later, Kardashian West moved into shapewear with the launch of her label SKIMS. According to Vogue Business, SKIMS has been hugely successful even as many businesses got hit hard during the coronavirus (COVID-19) pandemic.
Forbes recently declared Kim Kardashian West a billionaire
Some onlookers have believed that it wouldn’t be long before Kardashian West is officially a billionaire. On April 6, 2021, Forbes confirmed this by declaring that she has joined their billionaire ranks.
“Forbes estimates that Kardashian West is now worth $1 billion, up from $780 million in October, thanks to two lucrative businesses—KKW Beauty and Skims—as well as cash from reality television and endorsement deals, and a number of smaller investments,” the outlet wrote.
Forbes noted that Kardashian West earns $10 million every year. She also owns real estate properties and has investments in companies like Disney and Amazon.
Kylie Jenner had her billionaire status retracted
As many fans might know, Kardashian West is not the first member of her family to be called a billionaire.
Her youngest sister, Kylie Jenner, was declared a billionaire by Forbes in 2019 thanks to the success of her makeup company, Kylie Cosmetics. Jenner was even called the youngest self-made billionaire—a title that aroused much debate on the internet.
However, a year later, Forbes stripped her of the title and published a report claiming her family faked her tax returns to exaggerate her wealth.
Forbes wrote, “Filings released by publicly traded Coty [which bought 50 percent of Kylie Cosmetics in 2020] over the past six months lay bare one of the family’s best-kept secrets: Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe.”
“You have to remember they are in the entertainment business,” cosmetics veteran Jeffrey Ten told the outlet. “Everything in entertainment has to be exaggerated to get attention.”
Despite the scathing report, Jenner is by no means poor. In the end, Forbes believed her net worth was closer to $900 million than $1 billion, which now makes Jenner the second-wealthiest member of her family.