Kim Kardashian demoted from private equity firm SKKY for disappointing fundraising numbers

Kim Kardashian is a billionaire and business mogul, but is her reign of influence coming to an end? According to the private equity firm SKKY Partners, which Kardashian co-founded, Kim isn’t bringing in the numbers she used to and they have decided to call it quits.

SKKY Partners was launched by Kim Kardashian in 2022 with former Carlyle Group global head of consumer, media and retail Jay Sammons . The Kardashians star ventured into private equity with the expectation that her success with personal brands SKIMS and KKW Beauty would translate into trust from investors.

According to their Instagram, SKKY was set to focus on both ‘control and minority investments in high-growth, market-leading consumer and media companies.’ The name recognition from the famous influencer gave Sammons the confidence to set a goal to raise at least $1 billion to buy consumer companies.

Instead of raising a billion dollars, Kardashian was able to bring in a measly $121 million with just one deal, a hot sauce maker called TRUFF. The condiment is supposedly ‘premium’ with real black truffle in every bottle.

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