Kim Kardashian has officially been named a billionaire.
The Keeping Up With The Kardashians star, 40, was awarded the title by money magazine, Forbes.
In a special article on Kim, Forbes reports her fortune has escalated hugely in just a number of months from $780 million (£562 million) in October to more than $1 billion (£700 million) as of now.
The publication suggests that her business brands KKW Beauty and Skims pushed her over the threshold for billionaire status.
While her beauty and shapewear brands have drastically racked up her status, Kim has also been earning cash down through the years thanks to her reality TV deals and endorsements.
(Image: Getty Images for Tiffany & Co.)
Her decision to sell 20 per cent of her cosmetics company to beauty giant Coty also helped bolster her worth.
Kim’s KKW Beauty is said to be worth $500 million (£360 million), while Forbes reports her incredibly successful shapewear brand Skims ranked up her fortune with a massive deal which valued the business at more than $500 million (£360 million).
(Image: Instagram)
The reality TV icon’s stake in the business is said to be worth close to $225 million (£163 million).
This figure puts her total wealth in excess of the $1 billion mark as she joins the list of the world’s richest people.
It comes one year after Forbes stripped Kim’s younger sister Kylie of her ‘self-made billionaire’ status the publication claimed it had been shown ‘fake documents’ by the makeup mogul.
(Image: Forbes)
Following Forbes’ decision to scrap Kylie from their list, just a few short months after she appeared on the magazine’s cover, the 23-year-old star was left livid.
Kylie got her lawyer, Michael Kump, involved and he demanded a retraction, saying: “We have reviewed Forbes’ article accusing Kylie of engaging in deceit and a ‘web of lies’ to inflate her net worth. The article is filled with an outright lie.
“Forbes’ accusation that Kylie and her accountants ‘forged tax returns’ is unequivocally false and we are demanding that Forbes immediately and publicly retract that and other statements.”
(Image: kyliejenner/Instagram)
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Kylie also took to Twitter at the time to slam the magazine’s credibility.
“All I see are a number of inaccurate statements and unproven assumptions lol,” she fumed.
“I’ve never asked for any title or tried to lie my way there EVER. Period.
“Even creating tax returns that were likely forged’ that’’s your proof? So, you just THOUGHT they were forged? Like actually what am I reading.”
Source: Celebrities - dailystar.co.uk
