We’ve all heard the name Kim Kardashian, but what’s her take on Bitcoin investments? While the majority of Kim’s fortune comes from her ownership of her own brands, such as Skims, KKW Beauty, KKW Fragrance, and her most recent launch of SKKN by Kim, the rest of her money sits in investments, cash, and real estate.
The billionaire has made at least $10 million before taxes every year since 2012, according to Forbes, thanks to her earnings from Keeping Up With the Kardashians, sponsorship deals, and projects such as her mobile game and her long-gone Kimoji app. She also has a portfolio of high-profile interests, including shares in Amazon, Disney, Netflix, and Adidas, which her ex-husband Kanye West gave her for Christmas in 2017. She also owns three residences in Calabasas, which is northwest of Los Angeles.
There’s also been some controversy surrounding her regarding endorsements from cryptocurrency firms, so let’s jump straight into it.
Who Is Kim Kardashian?
Kim Kardashian, whose full name is Kimberly Noel Kardashian, was born in Los Angeles, California, on October 21, 1980. She is a famous American television personality and businesswoman who gained fame for her private life, which was featured on the hit reality tv series Keeping Up with the Kardashians (2007–2021).
Kim was the second of four children; Robert and Khloé are her younger siblings, while Kourtney is her older sister. Kim obtained her high school diploma in 1998 and worked as socialite Paris Hilton’s secretary. Kim, Khloé, and Kourtney launched the DASH store in Calabasas, California.
Despite criticism, her savvy self-promotion helped build a very successful brand. Along with endorsement deals, Kardashian was also involved in a number of commercial endeavors. She started the shapewear business, Skims, in 2019.
Following the signing of a production agreement with the streaming site Hulu by Kim and her family in 2020, Keeping Up with the Kardashians came to an end in 2021. The Kardashians, a reality series, debuted on Hulu in 2022. Her most recent achievement is the launch of her skincare line, SKKN by Kim.
Kim Kardashian Cryptocurrency Investments
Kim Kardashian, as well as Floyd Mayweather, were sued for allegedly misleading investors when they advertised EthereumMax to their countless millions of social media followers.
Using “false or misleading statements” in social media posts, a class-action lawsuit alleges that EthereumMax and its celebrity marketers conspired to artificially inflate the value of the token. The case was filed in January in the US District Court for the Central District of California.
When Kim Kardashian posted an Instagram advertisement for the EthereumMax coin last year, it raised controversy. “Are you guys into crypto?” Kim wrote. She continued to say, “This is not financial advice but sharing what my friends just told me about the EthereumMax token!”
When Kim Kardashian posted an Instagram advertisement for the EthereumMax coin last year, it raised controversy. “Are you guys into crypto?” Kim wrote.
The billionaire indicated that she was paid to promote it by including the hashtag #ad in the text. Although it’s unclear exactly how much Kim was paid by EthereumMax, estimates put her price per sponsored Instagram post between the $500,000 – $1,000,000 range.
According to the lawsuit, the celebrities’ actions caused damages for the plaintiff Ryan Huegerich, a New York citizen, and other investors who bought EthereumMax tokens between May 14, 2021 and June 17, 2021.
Since early June 2021, EthereumMax lost around 97 percent of its value, prompting some investors to call it a “pump and dump” operation, in which con artists try to increase the value of a commodity by making false or deceptive claims. The charge appears in Huegerich’s complaint, which holds Kardashian and Mayweather accountable for “shilling” EthereumMax.
According to the lawsuit, EthereumMax does not have any link to Ether, the second-largest digital currency, and its branding appears to be an attempt to deceive investors into thinking the token is a component of the Ethereum network.
There was no immediate response from Kim’s nor Floyd’s representatives when they were asked to comment on the situation.
This is not the first time that celebrities have drawn regulators’ wrath for endorsing cryptocurrencies.
Kim Kardashian Investments in Companies and Stocks
Let’s start with the most obvious investments in companies. Kim Kardashian is the majority shareholder in her own brands, which consist of Skims, KKW Beauty, KKW Fragrance, and the recently-launched SKKN by Kim. However, it’s important to note that in preparation for the launch of SKKN by Kim, she temporarily closed KKW Beauty and KKW Fragrance. There are speculations that these will all form part of SKKN by Kim in the future.
Shapewear manufacturer Skims announced that after obtaining $240 million in additional funding, its valuation rose to $3.2 billion in January 2022 as investors staked their money on the future of the Kim Kardashian-owned company.
Imaginary Ventures, Thrive Capital, D1 Capital Partners, and Alliance Consumer Growth joined previous investors Lone Pine Capital, a hedge fund, in leading the investment round. Skims is an online retailer that offers loungewear, bras, and shapewear to customers. It also operates stores owned by the department store brands Selfridges & Co and Nordstrom.
According to Bloomberg News, Kardashian and Skims CEO Jens Grede will continue to hold a controlling interest in the business following the transaction.
In terms of KKW Beauty, she profited from that ownership when she sold 20 percent of the company to cosmetics giant Coty for $200 million, valuing the business at $1 billion. Even though Forbes believed the sum was a little exaggerated—Coty, which also acquired 51% of Kylie Cosmetics in 2020, is notorious for overpaying—her remaining 72% interest is still valued at almost $500 million, according to calculations.
When it comes to earning passive income through other shareholdings, Kim owns shares in Amazon, Disney, Netflix, and Adidas. She was gifted the shares in Adidas by her ex-husband Kanye West in 2017. There were rumors that her investment portfolio is more impressive than Warren Buffet’s, but that seems like a long shot considering she only holds shares in four companies, excluding her own.
However, the businesses she started on her own and expanded with the customary Kardashian flair for self-promotion are what put her on the list of world billionaires.
Are the Claims About Kim Kardashian True?
Has Kim Kardashian traded Bitcoin? If there’s one celebrity that people love making claims about, it’s Kim Kardashian. In terms of the EthereumMax claims, the rumors are true. While we can’t say specifically whether the bot is truly a scam or not, the facts are that the actions of Kim Kardashian resulted in losses to many individuals.
She is one of the most followed and influential people in today’s world, so it would’ve been tough to get away with something like this. The posts regarding her endorsement of EthereumMax were posted on her personal Instagram account last year. We saw the stories with our own eyes, what about you?
Moving on to her investments in shares, there were rumors that Kim K’s investment portfolio was more impressive than Warren Buffet’s. Now, while this household name does have an impressive portfolio, it’s not quite in the same league as Warren Buffet’s In fact, Kim’s portfolio is still quite small, and she definitely needs to consider investing in more companies and stocks if she wants her portfolio to come close to Warren Buffet’s.
There’s no doubt that Kim Kardashian knows what she’s doing when it comes to making money. Thanks to two successful companies, Skims and KKW Beauty, as well as money from reality tv and endorsement deals, a few smaller ventures, and passive income from investments, Forbes believes that Kim Kardashian is worth $1 billion.
Unfortunately, she’s quiet about whether she invests in cryptocurrencies, such as Bitcoin and Ethereum. She has mentioned purchasing cryptocurrencies using EthereumMax, which left her in quite a bit of trouble. Miss Kardashian was sued over this promotional ad; however, her representative was not willing to share much news. Other than this, there hasn’t been much information available about the lawsuit, but hopefully, time will tell.
In terms of investments in companies and stocks, Kim K has dipped her feet in the water. She got into this because of her ex-husband Kanye West who gifted her an investment portfolio in 2017. While the investments are in major companies, Kim is the majority shareholder in her own brands, and receives the highest returns on investments from these companies.
Overall, we believe that Kim Kardashian is a fantastic entrepreneur and knows how to make some money. Will she ever comment on cryptocurrency again, given the lawsuit? Nobody knows for sure, but hopefully, she will continue to grow her investment portfolio and shed more light on her views on cryptocurrency without it being a promotional ad.
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