Kim Kardashian's next gig: Wall Street investor

Kim Kardashian's next gig: Wall Street investor

Why Kim Kardashian and Kylie Jenner are turning against Instagram's updatesReplayMore Videos ... (17 Videos)Why Kim Kardashian and Kylie Jenner are turning against Instagram's updatesWhat we know about Lukoil chairman's death 'Both a warning and a threat': Economics professor decodes Fed chair's commentsFed chair lays out the 'unfortunate costs of reducing inflation''Quiet quitting' isn't actually about quittingOscar Mayer introduces a hot dog-flavored ice popBiden's student loan forgiveness plan: Who it helps, who it doesn'tBiden forgave $10K in student debt. People flooded TikTok with their reactionsHe was a famous hacker. Now, he's detailing his main concern with TwitterStudent loan repayment resumes in a few days. Hear what one economy expert wants to see happen'Intentional to some degree': HUD secy. on racism in home appraisal processEngineer says she 'quiet quit' her job. Hear what that meansSome Tesla drivers use kids as a prop to test 'full self-driving' featureWalmart vs. Target: A tale of two retail resultsMisinformation, not machines, biggest election vulnerability, hackers sayHere's why a growing number of Americans are moving to MexicoHere's how the Inflation Reduction Act could affect youNew York (CNN Business)Kim Kardashian is entering the world of private equity.

She's partnering with Jay Sammons, a former executive with Carlyle Group, to launch SKKY Partners, a new firm that will invest in fast-growing businesses across several sectors, including hospitality, media and consumer products. The fund hasn't begun any raising money just yet and SKKY has revealed little about its ambitions. However, the duo told the Wall Street Journal that SKYY will make "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 Journal in an interview. "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 Carlyle this summer following a 16-year stint, during which he invested several well-known brands, including streetwear brand Supreme and Beats by Dre. He's been associated with the Kardashian family for several years and approached them with the idea. Kris Jenner, Kardashian's mother and manager, will join SKKY as a partner. Read MoreIntroducing SKKY Partners, a private equity firm co-founded by Kim Kardashian and Jay Sammons that focuses on both control and minority investments in high-growth, market-leading consumer and media companies. pic.twitter.com/hstLMRjFeo

— SKKY Partners (@skkypartners) September 7, 2022 The Kardashian-Sammons duo make a complimentary team, they said. Sammons has two decades of investing acumen and Kardashian is arguably the most popular woman in the world, thanks to her TV stardom and business portfolio. That could help SKKY attract business and promote the brands the firm invests in. Kardashian started Skims, an apparel business that's valued at roughly $3 billion following a fresh round of fund raising earlier this year.Last year, Forbes reported that Kim officially became a billionaire thanks to Skims and her makeup line KKW Beauty. She holds assets in cash, investments and real estate.

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