Kim Kardashian jumps into a new business venture—private equity.
Key details
Kim Kardashian is teaming up with a former Carlyle Group partner on a new private equity firm called SKKY Partners.
On Tuesday, the new firm posted to Instagram that it aims to focus on both control and minority investments in high-growth, market-leading consumer and media companies.
The post also states its target sectors include consumer products, digital & e-commerce, consumer media, hospitality and luxury.
Her partner for the company is Jay Sammons, the former head of consumer, media, and retail at Carlyle Group, an American multinational equity group.
Why it’s news
The Kardashians are no strangers to starting new business ventures. Each family member has a range of different businesses from makeup to shapewear and even tequila.
Kim Kardashian is worth around $1.8 billion largely in part to her successful brands KKW Beauty and Skims. She has been striving to make a name for herself other than just being a reality star.
In December, Kardashian announced that she had passed the “baby bar” exam, a test required for lawyers who did not attend law school. Her steps into law follow after her late father, Robert Kardashian, who was notably the defense attorney in the murder trial of O.J. Simpson.
Backing it up a bit
Kardashian isn’t the first celebrity to jump into the business world recently. Serena Williams announced that after 27 years she is putting the tennis racket down and moving into the business world.
After this year’s U.S. open, Williams plans to retire and run her venture-capital firm Serena Ventures.
Other big celebrities have also been moving into business. Los Angeles Lakers point guard Russell Westbrook has found success in Russell Westbrook Enterprises.
Many sports stars find a big number of their wealth comes from business rather than their sport of choice. Tiger Woods for example, he has a net worth of more than $1 billion, though a little more than $120 million has come from winning golf tournaments.
