Forbes magazine has officially declared that reality TV star Kim Kardashian of the ‘Keeping up with the Kardashian’ fame is now a billionaire.
In a statement issued on Tuesday in a rating blog stating that the media personality now has a net worth of $1 billion — an increase from $780 million in October last year.
“When Kim Kardashian West was first mentioned in the pages of Forbes in 2011, it was simply a tally of her Twitter followers: 6.6 million, just below Barack Obama and just above Ashton Kutcher. Five years later, she graced the cover of Forbes thanks to her booming mobile game, which helped her earn $51 million that year. Now, she officially joins the World’s Billionaires list for the first time,” Forbes says in a blog.
Forbes attributed the feat to Kim’s booming businesses — KKW Beauty and Skims — as well as earnings from reality television and endorsement deals and several smaller investments.
The 40-year-old sold 20 per cent of KKW Beauty to Coty for $200 million last year, which put the value of her company at $1 billion — although Forbes said the figure was “a little bloated.”
“The rest of Kardashian West’s fortune sits in cash and investments, including real estate. Every year since 2012, she has earned at least $10 million pretax, by Forbes’ count, thanks to paychecks from ‘Keeping Up With the Kardashians’, endorsement deals, and endeavours like the aforementioned mobile game and her now-defunct Kimoji app,” Forbes said.