Kim Kardashian Launches Private Equity Firm SKKY

Breaking Business Kim Kardashian Launches Private Equity Firm SKKY Derek Saul Forbes Staff Following New! Follow this author to stay notified about their latest stories. Got it! Sep 7, 2022, 09:11am EDT | Updated Sep 7, 2022, 09:20am EDT Share to Facebook Share to Twitter Share to Linkedin Topline Kim Kardashian, a billionaire from her beauty and shapewear brands, is expanding her business empire, teaming up with a former Carlyle Group partner on a new private equity firm. Kim Kardashian has another new business.

FilmMagic Key Facts Kardashian and Jay Sammons, the former head of consumer, media and retail at Carlyle, first told the Wall Street Journal about the launch of SKKY Partners, a play on Kardashian’s initials. Sammons told the Journal that Kardashian’s mother Kris Jenner will be a partner at the firm, though Sammons and Kardashian did not comment on the fund’s expected size or other investors. SKKY plans to invest in consumer, digital, media, hospitality and luxury companies, the firm said in an Instagram post Wednesday.

Sammons, who this summer left Carlyle, one of the largest private equity companies in the world, will oversee SKKY’s operations, according to the Journal . SKKY did not immediately respond to Forbes ’ request for comment. Forbes Valuation We estimate Kardashian is worth $1.

8 billion thanks largely to her stakes in her companies KKW Beauty and Skims. Forbes first named Kardashian a billionaire in April 2021. Kardashian is one of several wealthy entrepreneurs in her family: Her estranged husband Kanye West is worth $2 billion, while her half-sister Kylie Jenner and Kris Jenner are worth $600 million and $230 million, respectively.

Key Background Kardashian is the latest celebrity to launch her own private equity or venture capital firm, following the likes of rapper Jay-Z, actor Ashton Kutcher and athletes Serena Williams and Kevin Durant. A long-time reality television star and one of the most-followed figures on social media Kardashian parlayed her fame into numerous lucrative endorsement deals and launched her beauty company KKW Beauty in 2017 and clothing brand Skims in 2019. A January funding round valued Skims at $3.

2 billion, making Kardashian’s estimated 35% stake in the company worth over $1 billion. Kardashian announced the closure of KKW Beauty last July, saying it planned to rebrand. In June, he launched a high-end skincare line, SKKN By Kim, the apparent successor to KKW Beauty, in collaboration with Coty, which bought a 20% stake in KKW Beauty in 2020 for $200 million.

Tangent In December, Kardashian announced she passed California’s “Baby Bar” exam, a required test for aspiring lawyers not attending accredited law schools. Kardashian, whose father Robert Kardashian was a defense attorney who represented O. J.

Simpson in his murder trial, is an apprentice at a San Francisco law firm. Further Reading Kim Kardashian’s Latest Business Venture: Private Equity ( Wall Street Journal ) Kim Kardashian West Is Officially A Billionaire ( Forbes ) Follow me on Twitter . Send me a secure tip .

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