Kim Kardashian Mortgaging Her Hard-Earned $1.8B Reality TV Empire to Launch a Billion Dollar Private Equity Fund?
The American socialite Kim Kardashian, after finding grand success on social media, has ventured into the world of finance. Launching a private equity firm, the billionaire influencer announced her move on Twitter, as she looks forward to gaining more success. Aiming to make minority investments, Kardashian is to take help from former partner, Carlyle Group.
Naming her debut firm SKKY Partners, Kim Kardashian wishes her equity fund to raise at least $1B. Despite buyout firms struggling in the toughest fundraising environments in years, the influencer wants her private equity fund to stand out among others and make substantial growth.
Kim Kardashian Is Stepping Into Finance
Gaining a billion-dollar reputation through social media and reality TV shows, Kim Kardashian even proved to have a creative business mindset. Thus, doing well in her recent business venture of shapewear labeled SKIMS and makeup brand SKKN by Kim, the 42-year-old is valued at $1.8B in 2023.
However, despite a successful career and numerous business models, the influencer recently launched her private equity firm SKKY Partners. Venturing into finance with a former partner at Carlyle Group, Kim Kardashian is willing to invest in consumer and media businesses.
I’m pleased to announce the launch of @SKKYPartners with private equity veteran Jay Sammons as co-founder and co-managing partner, along with @KrisJenner who will serve as partner at our firm. pic.twitter.com/KExQTsVGbf
— Kim Kardashian (@KimKardashian) September 7, 2022
Aiming to raise at least $1B with SKKY Partners, the 42-year-old is looking for grand success while other fundraising firms are struggling in the same environment. Being optimistic about her plan, the mother of four believes she “will win” considering her other entrepreneurial success. With her “ability to identify and define culture” even well-known financial groups believe in her model.
Kim Kardashian Launches Billion-Dollar Equity Fund
Along with Jay Sammons, a former executive at the Carlyle Group, Kim Kardashian is aiming to make minor investments and control stakes in “high-growth, market-leading consumer and media companies”. Planning to focus on consumer products, media, hospitality, and luxury, Kardashian’s SKKY Partners is taking steady steps in the risky business.
Considering to make investments in digital and e-commerce firms, the SKIMS founder announced her lucrative move via Twitter. Adding her mother Kris Jenner to serve as a partner in her firm, SKKY Partners is ready to raise capital to secure investments. Although Kardashian previously ran into trouble over another financial venture in the UK, she is still willing to give it a shot.
“Together we hope to leverage our complementary expertise to build the next generation consumer and media private equity firm” Kardashian tweeted.
Despite the fundraising business being plagued by recession and interest rates, Kim Kardashian’s celebrity reputation seems to generate power for her fundraising business. Turning her fame into fortune, Kardashian aims to stay ahead of the game and competition in the business. Thus, understanding the dynamics of brand loyalty, SKKY Partners remains flexible and open to adjusting their targets.
