KIM Kardashian’s demotion from SKKY Partners was a ‘tough wake-up call’ for the star as her colleagues ‘didn’t care’ about her famous last name, The U.S. Sun has learned.
The reality star was initially hired as a managing partner for the private equity firm however, after a year of missing fundraising goals, her role was recently reduced to an advisor . Previously, Axios was first to report that Kim , 44, was far behind in securing the $1 billion funding SKKY was looking for to purchase consumer businesses. As of April, the firm had only garnered $121 million and completed just one deal - hot sauce brand Truff.
Now, a source claimed that while Kim’s successful reputation in business earned her a role within the firm, the fashion mogul ultimately didn’t bring in enough capital to continue with the position. “Ms Kardashian’s initial role was more on the operational and returns side. It was understood that she would bring in big names and companies the firm would want to invest in,” an insider exclusively told The U.
S. Sun. READ MORE ON KIM KARDASHIAN "That was the mutually agreed upon terms.
The goal was $1 billion raised in private equity to purchase various consumer-driven businesses. “It was learned though that Ms Kardashian’s business expertise lies elsewhere, and not necessarily in fundraising. “She did not bring in the money and investors that the firm initially thought she was capable of.
In that capacity, she did underperform, or her value wa.
