Kim Kardashian Is $600 Million Richer After Shapewear Brand Skims Hits $3.2 Billion Valuation

It's all about keeping up with Kim.

Less than a year after joining the billionaire ranks, the net worth of the reality television star turnedentrepreneur has jumped to an estimated $1.8 billion following a fresh bout of funding that doubled the valuation of her shapewear and underwear label Skims.

Skims secured $240 million in a financing round led by Lone Pine Capital with participation from D1 Capital Partners as well as previous investors, the company confirmed to Forbes. The value of the company, known for its bodysuits, bras, loungewear and more, was raised to $3.2 billion after a capital injection.

It has been a big boost for the 41-year-old, who continues to hold a majority of the company, along with Skims cofounders and CEO Jens Grede. Forbes doesn't have documentation of her ownership, but they estimate that she has a 35% stake in the company, worth about $900 million. A representative for Kardashian declined to comment on the article.

Forbes published a report in April of 2016 that stated that the reality TV star had a net worth of $1 billion. Her cosmetics company KKW Beauty was the biggest chunk of her wealth at that time. Kim sold 20% of her business to Coty for $200 million in January of 2021. Forbes valued her remaining stake in KKW Beauty at about $500 million, and attributed the rest of her fortune to cash from reality television and endorsement deals.

The shapewear brand was transformed into the most valuable asset by the two major funding rounds in the year since.

The company saw its sales jump to $275 million in 2021, after gaining traction during the Covid-19 pandemic. $400 million will be brought in in 2022. Helping its revenue grow is an ongoing collaboration with Team USA that will involve supplying loungewear and undergarments for athletes in the Winter Olympics in Beijing.