Kim Kardashian plans to launch new private equity firm, SKKY
Reality star and entrepreneur Kim Kardashian is teaming up with a former executive at Carlyle Group Inc, Jay Sammons, to launch the private-equity firm SKKY Partners.
The duo will make "both control and minority investments in companies," and focus primarily on investing in consumer, hospitality, and media businesses, reports The Wall Street Journal.
"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."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The proposal came when Sammons approached Kardashian and her mother, Kris Jenner, with the idea to start SKKY earlier this year. He believes partnering up with Kardashian will allow them to bring different skills and expertise to the company.
"[Kim] 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," writes CNN Business.
Sammons has spent two decades in the private equity industry and has invested in popular brands like Supreme and Beats by Dre.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Anahi Valenzuela has worked as an editorial assistant at The Week since 2022, where she assists with magazine content and covers the week's best photos. She started her career as a media producer at The Daily Californian and a writer for College Magazine.
-
'Voters know Biden and Trump all too well'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Is the Gaza war tearing US university campuses apart?
Today's Big Question Protests at Columbia University, other institutions, pit free speech against student safety
By Joel Mathis, The Week US Published
-
DOJ settles with Nassar victims for $138M
Speed Read The settlement includes 139 sexual abuse victims of the former USA Gymnastics doctor
By Justin Klawans, The Week US Published
-
Why is Tesla stumbling?
In the Spotlight More competition, confusion about the future and a giant pay package for Elon Musk
By Joel Mathis, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
The wine industry is getting pressed as young people drink less
Under the Radar The once-dominating drink is not aging well
By Anya Jaremko-Greenwold, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
The largest insurance company payouts
In The Spotlight Fights over insurance have been in the spotlight following the collapse of the Francis Scott Key Bridge in Baltimore
By Justin Klawans, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published