Yahoo Finance Kim Kardashian is starting her own private equity firm. Here are some other celebrities, like Serena Williams and Jay-Z, who have already created their own investment companies.
Kim Kardashian is starting her own private equity firm called SKKY with a veteran of The Carlyle Group.
This is her first investment-focused company, and she's reportedly seeking to raise $1 billion.
She joins a growing list of celebs who have broken into investing. Check out some of the names below.
Kim Kardashian is breaking into the world of investing.
On Wednesday, the reality star announced that she is starting her own private equity firm with a veteran of The Carlyle Group.
The firm, which will be called SKKY, will invest in consumer products, media & entertainment, hospitality, and luxury, according to a press release announcing the company's creation.
Axios reported that SKKY plans to raise more than $1 billion for its debut fund.
"I'm excited to launch SKKY Partners to invest in the next generation of consumer brands, leveraging my experience founding and building global businesses and partnering with innovative companies to help them grow," Kardashian said in the release.
Kardashian is no stranger to the business world, having founded a number of companies, including KKW beauty, a cosmetics company, and Skims, a shapewear and clothing brand.
Still, this is her first foray into private equity investing, which involves investing in, or outright buying private companies and managing them before selling them.
Kardashian joins a growing group of celebrities who have used their wealth and experience to launch into investing. Here are some other notable examples.
Serena Williams
The tennis star recently announced that she plans to step back from playing tennis and focus full-time on her venture capital firm, Serena Ventures. Williams' fund invests in under-represented founders, including women and people of color. Williams has invested in MasterClass, Daily Harvest, and Clubhouse.
Ashton Kutcher
The actor founded his venture capital firm, A-Grade Investments, in 2010 with two long-time friends. A-Grade was an early investor in Spotify, Uber, and Airbnb.
Jay-Z
The rapper and producer's company, Marcy Venture Partners, was founded in 2018 and has invested in Madison Reed, Rihanna's Savage x Fenty, and Gemini, which was launched by the Winklevoss twins.
Alex Rodriguez
The former pro-baseball player founded A-Rod Corp in 1995 to invest in real estate. Later, he founded VCP Ventures with former Walmart exec Marc Lore. Rodriguez has invested in Acorns, a fintech company, and Eight Sleep, a mattress company.
Jessica Alba
The actress founded the baby and beauty products company Honest Company in 2012. It went public last year and was briefly worth more than $1 billion. Recently, she has begun to invest in early-stage companies, most notably Headspace, the meditation app.
Sean 'Diddy' Combs
The entrepreneur and rapper, formerly known as "Puff Daddy," runs Combs Enterprises. He is one of the wealthiest rappers, thanks to some of his investments. He is currently invested in AQUAhydrate, and he co-owns alcohol brands Ciroc and DeLeón tequila.
Stephen Curry
Stephen Curry is a pro basketball player for the Golden State Warriors, but off the court, he runs his investment firm, SC30. Curry has invested in at-home smart gym Tonal, and Literati, a children's subscription book club.
Read the original article on Business Insider
