Kim Kardashian’s demotion from SKKY firm was a ‘tough wake-up call’- as colleagues ‘didn’t care about her famous name’

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. 

"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 was overestimated.”

While the source maintained that there is "some value” to Kim’s name and the Kardashian brand, it was emphasized that it was “not enough” to “produce the numbers they had set in place.”

“In business they all only care about one thing: money. People don’t care about her last name or social media following. 

“I think it was a tough wake-up call when she really dove deep into the world of private equity and realized how much went into it. 

“You can be a successful business owner and not a successful business investor. She is a very smart businesswoman in some senses but doesn’t have the gravitas. 

“Sure she can make a call, but can she close the deal? Then there’s also her schedule… she is rarely in the same city for long and it was difficult getting in touch with her for meetings, calls, etc… that added to it.” 

The insider insisted that at the end of the day, it was “mutually agreed upon” that Kim’s role “needed to be reduced.” 

"She is still valued but it felt clear her initial role was not working out,” they added. 

The U.S. Sun has reached out to SKKY for comment. 

Last week, it was revealed Kim had quietly stepped down as partner of SKKY after failing to raise $1 billion. 

Kim was originally announced as co-managing partner of the private equity firm two years ago but is now listed as co-founder and senior operating advisor on the company's official website. 

MOVING ON DOWN

The American Horror Story actress still has SKKY Partners listed in her Instagram bio, but does include her exact position at the company.

In addition, Kim's momager Kris Jenner is no longer named as senior advisor on the company's site.

Still, Kim’s business mind is not slowing down as she continues to actively promote her $4 billion brand SKIMS, and to a lesser extent, regularly posts about her beauty line, SKKN.

To keep her plate consistently full, Kim is also still attempting to pass the California bar exam, has been appearing on numerous television shows, and travels the country in pursuit of criminal justice reform.

Due to her heavy schedule, it seems Kim's law dreams may be postponed - at least for now.

"Kim had originally planned to take the California bar exam in February 2025, but she is pushing it back to 2026," an insider exclusively told The U.S Sun.

"The reality is Kim hasn't been able to study much for it yet, and there's no way she's going to be able to tackle the exam in February."

"She's barely gotten through 20% of the coursework. Kim hates any questions about her pursuit of her legal credentials. She gets mad when anyone brings it up.

"She says she's a full-time working mom of four with a business empire, so of course it's going to take a little longer."