Kardashian and West have a billion-dollar empire to divide
The celebrity divorce of Kim Kardashian and Kanye West is not only food for paparazzi, but also their lawyers and the financial advisers can take a chore. The couple has built a business empire worth more than $ 2 billion.
Is the divorce of a reality star and a hip-hop genius who is musically in decline world news? Not in itself, but when it comes to Kim Kardashian and Kanye West the cards are different.
After nearly seven years of marriage, Kardashian and West have built a multi-billion dollar business around them that is linked to listed multinationals such as the sports brand Adidas or the cosmetics company Coty. After Kardashian filed for divorce last week, the key question is how the two will split that cake.
What exactly does the glamor couple’s business empire look like? West is world famous as a hip-hop star, but he really got rich because of Yeezy, the sneaker brand that he launched together with Nike in 2009. Initially, that seemed to turn out to be a flop, until West closed a deal with the German sports giant Adidas in 2014. Yeezy – Marc Coucke, among others, has already been spotted in a pair – is 100 percent owned by West, but Adidas produces and distributes the shoes.
With every pair sold, West receives royalties from Adidas. Business magazine Forbes, which first included West in its billionaire list last year, estimates that those royalties amount to about 11 percent of the $ 1.3 billion in sales Adidas made on Yeezy sales last year: $ 140 million or over 115 million. euro. The Yeezy brand itself, according to Forbes, is worth about $ 1.26 billion, just over $ 1 billion.
The rights to West’s extensive song catalog and his own music label earned the 43-year-old hip-hopper entrepreneur another $ 90 million, or just over $ 74 million. In addition, according to Forbes estimates, West owns $ 81 million in real estate, $ 21 million in land, 52 million in cash and stock, and nearly $ 4 million in cars. Because not all those assets are equally liquid, Forbes does have a slightly lower value on the total and estimates West’s full assets at 1.3 billion dollars, converted about 1.1 billion euros.
Kardashian, daughter of O.J.Simpsons attorney Robert Kardashian, became known as a socialite in the entourage of celebrities like Paris Hilton. But her star really started to rise via ‘Keeping up with the Kardashians’, a reality series that will be ended after 14 seasons this year.
Kardashian built its own makeup brand, KKW Beauty. Its stake in it is estimated at $ 500 million. Last year, she sold nearly a fifth of KKW Beauty for $ 200 million to US cosmetics giant Coty. Together with the income from modeling assignments and ‘Keeping up with the Kardashians’, her full assets would amount to 750 million dollars, more than 617 million euros. In comparison, in 2014, the year she married West, Kardashian’s net worth was estimated at $ 30 million.
Kardashian would rely on the services of American lawyer Laura Wasser for her divorce from West. She is known as a ‘divorce queen’ who analyzed the fine print in the dissolution of the marriages of Brad Pitt and Angelina Jolie and Britney Spears and Kevin Federline. West and Kardashian would have already decided in a premarital contract that they will keep most of the assets they have built up with their own companies.
$ 30,000 sink
Remains to divide: a sloppy $ 70 million in homes in Los Angeles, Miami and Wyoming, where West has been without the kids for several months now. By the way, there is a Belgian link: Kardashian and West’s home in Los Angeles – including a $ 30,000 sink that Kardashian had to explain in a social media video – was decorated by the Belgian decorator and art dealer Axel Vervoordt.