Keeping up with private equity: Kim Kardashian launches investment firm with former Carlyle exec
Having dabbled in the world of crypto, Kim Kardashian is now turning her hand to private equity.
The reality star turned entrepreneur is partnering with former Carlyle Group executive Jay Sammons to launch SKKY Partner.
SKKY will invest in emerging businesses in the consumer products, digital & e-commerce, media, hospitality and luxury space, and the pair told the Wall Street Journal that their new private equity firm will “both control and minority investments in companies.”
“The exciting part is to sit down with these founders and figure out what their dream is,” Kardashian told the publication. “I want to support what that is, not change who they are in their DNA, but just support and get them to a different level.”
Sammons left US investment titan Carlyle back in July after nearly 16 years at the firm. He worked on investments including Beats Electronics, Vogue International and Supreme.
SKKY Partners took to Twitter to introduce themselves as the new power couple of the business world.
Kardashian, who is the daughter of late Robert Kardashian, a high-profile lawyer who was best known for defending OJ Simpson, personally rose to fame in the reality show Keeping Up With The Kardashians, alongside her siblings and “momager” Kris Jenner.
However, in recent years, Kardashian has established herself as a business woman in her own right.
Kardashian’s net worth is in the region of $1.8bn and according to Forbes magazine, a lot of her net worth derives from equity stakes in KKW Beauty, the cosmetic and fragrance company, and Skims, her shapewear brand.
However, this has not been without mishaps.
A class action lawsuit filed in California’s District Court accused EthereumMax and its celebrity promoters, which also included former boxer Floyd Mayweather, of artificially inflating the coin’s price through misleading social media posts in an alleged ‘pump and dump’ scheme.
The price of Ethereum Max crashed by 98 per cent after social media guru Kardashian promoted it to her army of 228m Instagram followers.
In August, Kardashian’s lawyers filed a motion to have the complaint against her dismissed.