Beauty mogul, reality TV star, aspiring lawyer, and now even more of a businesswoman, Kim Kardashian has launched her very own private equity firm, SKKY Partners. The 41-year-old has stepped further into the business world alongside businessman and 16-year private equity veteran of the Carlyle Group, Jay Sammons. As per the arrangement, Kardashian will hold the prime title of co-founder and co-managing partner, while Sammons will focus his attention on the smooth sailing of day-to-day operations at the firm. Kardashian’s mother, Kris Jenner will also be a partner at her new firm.
The firm primarily focuses on investments in media and consumer brands, according to a joint system. This will include control and minority investments in hospitality, luxury, and digital commerce. As partner Sammons has held the title of global head of consumer, media, and retail at the Carlyle Group for quite some time now, this newfound investing business has an edge in the evolving media world.
Kardashian is no stranger to the entrepreneurial world. The former Vogue Arabia cover star’s portfolio includes shapewear label Skims and makeup brand, SKKN by Kim. As her net worth rises up to the US $1.8 billion according to Forbes, so does the value of Skims as it reaches $3.2 billion in January. Many renowned names seemed to have developed a taste for the investing business, as tennis star Serena Williams also raised $111 million for her venture capital firm, Serena Ventures this March.