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Kim Kardashian definitely knew what she was doing.
By Isaac Serna-Diez — Written on Sep 07, 2022
First, it was SKIMS, then it was SKKN, and now Kim Kardashian has set her sights on an all-new business venture — a private equity firm labeled SKKY Partners.
However, her new private equity firm begins with a little bit of controversy as fans point out that the man she’s starting the firm with shares a common enemy with her.
Kim Kardashian’s newest business partner, Jay Sammons, helped Scooter Braun buy the rights to Taylor Swift’s albums.
Kardashian’s beef with Taylor Swift is well-known and well-documented.
While married to her now ex-husband, famous rapper Kanye West, the reality star dramatically accused Swift of lying after the singer claimed West had insulted her in his 2016 song "Famous" without getting her consent.
Kardashian leaked a phone call where Swift appeared to grant permission but the full audio suggests she was never informed of all of the lyrics about her in the song.
Jay Sammons’s beef with Taylor Swift is a little less public.
Sammons is largely the reason that Scooter Braun, founder of Ithaca Holdings, was able to acquire the rights to six of Swift’s albums upon buying out the label she was previously signed to — a small label based in Nashville called Big Machine.
Upon purchasing the company, the rights to Swift’s albums were transferred over to Braun — someone Swift wanted nothing to do with because of his former collaborations with West among other issues, according to The New York Times.
But, as Swift would reveal in a statement slamming Braun for acquiring her music, private equity firm The Carlyle Group made an investment in the deal.
At the time of the sale, Sammons oversaw the firm’s media, retail and consumer team. He was in charge of the group’s stake in Ithaca Holdings.
As a result, he took an interest in the asset opportunities that came with the acquisition of Swift’s albums, becoming somewhat of a mediator between Braun and Swift which would ultimately result in Ithaca owning the rights to the six records.
Swift, adamant about becoming the sole owner of her masters, was unsatisfied with the outcome. Hence, Swift has since gone on to rerecord and release albums that were acquired by Ithaca Holdings in the deal.
Sammons left the Carlyle Group in July 2022.
Now, Taylor Swift's former opponents — Kim Kardashian and Jay Sammons — have teamed up.
In an interview with Wall Street Journal, Sammons said he’s had a relationship with Kardashian and Kris Jenner for years.
“Ms. Jenner, who serves as her daughter’s manager and oversees the family’s businesses, will join SKKY as a partner,” Sammons said, via WSJ.
SKKY plans to make both control and minority investments in companies with Sammons adding that he plans on making many investments similar to those he made at Carlyle Group.
Kardashian added that working closely with entrepreneurs and guiding them in the decisions that would help their businesses grow is why she wanted to start the company in the first place.
“The exciting part is to sit down with these founders and figure out what their dream is,” she said, via WSJ. “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.”
They’ve both revealed that SKKY will make investments in sectors including consumer products, hospitality, luxury, digital commerce and media, as well as consumer-media and entertainment businesses.
For some, this feels like a long-winded stab at Swift’s back as this kind of private equity firm is exactly what led to Swift’s album rights being taken away.
While this isn’t something that would affect Swift directly, it’s certainly sending a message.
Isaac Serna-Diez is an Assistant Editor who focuses on entertainment and news, social justice, and politics. Since graduating from Rutgers University, he spends most of his free time gaming or playing Quadball. Keep up with his rants about current events on his Twitter.