Take a look at Kim Kardashian's $1.7 billion fortune
Kim Kardashian, synonymous with reality TV fame and entrepreneurship, has a net worth of $1.7 billion as of September 2024. Her fortune largely stems from her shapewear company, SKIMS, valued at $4 billion, and ventures into cosmetics and skin care. Additionally, her personal life, including her divorce from Kanye West and shared custody of their four children, continues to attract media attention.
The SKIMS success story
SKIMS stands as the cornerstone of Kardashian's wealth. Launched with the backing of high-profile investors like Stephen Mandel and Daniel Sundheim, SKIMS valuation soared to $4 billion in 2023. This venture not only showcases Kardashian's business acumen but also her ability to capitalize on her social media influence to build a brand that resonates with millions.
From cosmetics to skincare
Kardashian's journey in the beauty industry began with KKW Beauty, which she sold for $200 million in 2020. After KKW Beauty was discontinued in 2021, she promptly launched SKKN By Kim in June 2022. This high-end skincare line not only diversifies her business portfolio but also strengthens her presence in the beauty sector, demonstrating her adaptability and sharp business acumen.
A high-profile divorce settlement
In early 2022, Kardashian and Kanye West finalized their divorce, marking the end of their marriage that spanned several years. As part of the settlement, Kardashian agreed to pay $23 million for their luxurious Axel Vervoordt-designed mansion located in Hidden Hills. This agreement highlights the substantial financial implications of their split and provides insight into the extravagant lifestyle that they led together.
Advocacy beyond business
Kardashian uses her significant social media presence—362 million followers on Instagram and 75 million on Twitter—not only for business promotion but also as a platform for advocating criminal justice reform, among other social causes. Her efforts extend her influence from the commercial sphere into important social issues, presenting a complex image that merges her celebrity with activism.
Celebrity-backed retail expansion
SKIMS success exemplifies a wider trend of celebrity-endorsed brands gaining significant retail presence across the US, including mall spaces targeting Gen Z consumers. This strategy showcases Kardashian's grasp of market dynamics and underscores the influence celebrities wield in shaping retail trends through their personal brands. It reflects a savvy blend of celebrity appeal and business strategy.
