Ye, formerly known as Kanye West, might be cashing in thanks to a milestone one of Kim Kardashian’s lucrative businesses has reached.
The new funding brought the company’s valuation to $4 billion, which reportedly made the reality star $500 million richer. According to Forbes, the number is based on “estimates that Kardashian owns at least a third of the company.”
Back in 2022, Forbes also reported that West has a 5% stake in Skims.
“You know, I had dinner with Ivanka [Trump], Jared [Kushner], and Josh [Kushner] and a couple of days later, I found out that Josh Kushner had 10 percent of SKIMS, which is a line that I had developed with Kim and I had a lot of issues with the imagery of SKIMS,” Ye told Fox News. “So, I found out after this dinner that Josh Kushner had 10 percent of SKIMS, and I had five percent of SKIMS… and I’m sure Jared [Kushner] still has a piece of that. I said, ‘Hey, Josh, what if I had 10 percent of [Kushner’s wife] Karlie Kloss’ lingerie shapewear swimsuit line, and you have five percent of it, and you didn’t know? How would that make you feel?'”
He added, “As a person that has really built something from nothing, when I sit across the table from Josh Kushner, and he just feels so entitled to that idea and this person has never brought anything of value other than so-called being a good venture capitalist, I have a major — I have a major issue with that.”
His financial involvement in the company was listed as one of the ventures helping him keep his net worth of $400 million after no longer being considered a billionaire. Additionally, it’s speculated that his dealings in real estate and music catalog, among probable other ventures, are contributing, based on a CNN report.
Skims is co-founded by Kardashian and Swedish entrepreneur Jens Grede. Emma Grede, his wife and fellow entrepreneur, is a founding partner and the chief product officer.
Now that the company has hit the new achievement, it’s setting its sights on another.
“At some point in the future, Skims deserves to be a public company,” Jens said, according to The New York Times.