Kim Kardashian officially joins the billionaire club

7 April 2021, 06:53

Kim Kardashian is officially a billionaire, according to Forbes magazine.

The reality TV star joined the likes of Elon Musk and Jeff Bezos thanks largely to her clothing company Skims and her cosmetics brand KKW Beauty, Forbes said.

The magazine values Kardashian's net worth at one billion dollars (£723 million), up from 780 million dollars (£506 million) in October.

As well as her businesses, the rest of the 40-year-old's wealth comes from her TV career and endorsement deals, Forbes said.

Kardashian founded KKW Beauty in 2017. She looked to half-sister Kylie Jenner for inspiration, according to Forbes, following the success of Kylie Cosmetics.

Both businesses rely heavily on the siblings' vast social media followings.

Announcing her cosmetics line in 2017, Kardashian told Forbes: "It's the first time I've moved away from having licensing deals and transitioned into being an owner."

Kardashian sold 20% of KKW Beauty to cosmetics giant Coty last year for 200 million dollars (£144 million), in a deal valuing the business at 1 billion dollars.

However, Forbes said that figure might be bloated as Coty is known for overpaying and said Kardashian West's remaining 72% stake is worth about 500 million dollars (£361 million).

Her stake in Skims, a shapewear company, is valued by the magazine at a "conservative" 225 million dollars (£162 million).

With Kardashian's cash, investments and real estate, that brings her net worth to a billion dollars, according to Forbes.

The show that made the star's name, Keeping Up With The Kardashians, is in the process of airing its final series, though the family has already signed a global content deal with US streaming service Hulu.

Kardashian is not the first member of her family to be crowned a billionaire by Forbes.

Kylie, 23, was said to be a billionaire by the magazine, however in May last year it stripped her of the title and accused her of inflating the value of her business.

Kardashian's estranged husband, Kanye West, was said to have joined the exclusive club last year, thanks largely to his Yeezy shoe business.

Kardashian filed for divorce in February citing irreconcilable differences.