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Home / Lifestyle

Fit, forty and flush: Kim Kardashian West is officially a billionaire

By Lexie Cartwright
news.com.au·
6 Apr, 2021 09:19 PM4 mins to read

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Kim K uploaded this pic from her holiday spot after the billionaire news broke. Photo / Kim Kardashian West, Instagram

Kim K uploaded this pic from her holiday spot after the billionaire news broke. Photo / Kim Kardashian West, Instagram

At the age of only 40, Kim Kardashian West has managed to join the billionaire club.

Forbes officially announced the beauty mogul's net worth has increased to US$1 billion ($1.4b), up from US$780 million in October.

This is largely thanks to her uber-popular companies, KKW Beauty, and her shapewear line, Skims.

Kardashian West, who is currently taking a holiday, took to Instagram today with a celebratory picture captioned "Bliss". Her best friend, Jonathan Cheban, commented, "BILLIONAIRE VIBES".

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The mother of four, who is in the middle of divorce proceedings with Kanye West, launched KKW Beauty, her makeup line, in 2017.

Her first line of products - contour kits - sold out within two hours. KKW Beauty didn't release official figures, but it's estimated 300,000 units of the debut collection sold.

If this estimate is accurate, Kardashian West sold US$14.4m worth of products in her first two hours of business with KKW Beauty.

Last year, Kardashian West sold a 20 per cent stake of KKW Beauty to cosmetics giant Coty for US$200m.

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This deal valued KKW Beauty at US$1b.

View this post on Instagram

A post shared by Kim Kardashian West (@kimkardashian)

Kardashian West then added Skims to her bustling resume in 2019, which produces lingerie, bras, underwear, loungewear and pyjamas. Her debut collection made US$2m in a matter of minutes.

To put this astronomical figure into context, Spanx made US$4m in its first year of business in 1998.

Skims has continued to explode in popularity over the past year, particularly during quarantine.

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View this post on Instagram

A post shared by Kim Kardashian West (@kimkardashian)

Most of its collection drops sell out within a day, and customers sign up to a waiting list to be in line for the next restock.

A mere seven years ago, in May 2014, Kardashian West was estimated to be worth US$45m.

West's fortune reportedly soared in early March, with the rapper's Yeezy shoe and streetwear empire surging during the pandemic.

Yeezy's Adidas sneaker venture is now worth as much as US$4.7b based on the valuations of similar streetwear brands including Supreme, according to an analysis by the investment bank UBS obtained by the Post.

View this post on Instagram

A post shared by Kim Kardashian West (@kimkardashian)

That's not including a valuation of nearly US$1.2b for Yeezy's upcoming Gap apparel line, which is slated to launch this northern summer. Both ventures are wholly owned by West, according to people close to the company.

Kardashian West's younger half-sister, Kylie Jenner, hit billionaire status at the age of 22 thanks to her company Kylie Cosmetics.

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However, Forbes stripped her of this status last year, claiming the makeup mogul had spun a "web of lies" around her wealth.

View this post on Instagram

A post shared by Kylie 🤍 (@kyliejenner)

Jenner, 23, sold 51 per cent of her company to Coty in a reported US$1.2b deal early last year.

Documents released by Coty later showed her business is "significantly smaller and less profitable than the family has spent years leading the cosmetics industry and media outlets to believe", Forbes claimed.

It estimates that Jenner's personal fortune is just under US$900m.

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