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Self-made millionaire behind $4 billion Skims, Emma Grede says it all began with a cold call

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You’ve probably heard of the British Entrepreneur Emma Grede because of Skims, the $4 billion shapewear company she runs with Kim Kardashian. She’s also invested in other brands with the family, such as the cleaning products company Safely and Kylie Jenner’s clothing line, Khy. And the growing empire can all be traced back to one phone call she made to Kris Jenner that changed everything.

It was in 2015, and Grede had built her own entertainment and talent agency, Independent Talent Brand, which saw her jetting between London and LA.  “I knew every manager, agent, publicist, lawyer in Hollywood, that was my job,” Grede recalls in an exclusive interview with Fortune

And it put her in the perfect position for pitching her new idea: a radically inclusive denim brand tailored for women who’d been overlooked by mainstream fashion. In her mind, she’d already picked the perfect partner for the brand: Khloe Kardashian, who “embodied that idea right from the beginning.” The star had often been honest about her experience as the curvy sister. 

But here’s the catch: Grede hadn’t run a fashion business before, and the two had never worked together. Instead of waiting for an introduction, she boldly called the family matriarch and “momager”, Jenner herself. 

“I had an idea, and I formed the partnership in my mind,” the now 42-year-old self-made millionaire says. “The difference between me and someone else is that I made the phone call, I took the meeting, and I made it happen.”

“I have no imposter syndrome and no delusions of who gets to run a business,” Grede adds. “I just thought, if not me, then who?”

Jenner asked Grede when she’d next be flying to LA to discuss the partnership face-to-face. At the time, Grede was only flying that way once a quarter, but she quickly lied and said she was heading there the next week. So that’s exactly what she did—and the rest is history. 

When Good American denim dropped a year later, it made $1 million on day one, making it the biggest denim launch in apparel history. And since then she’s gone on to sit on the board for the Obama Foundation and become the first Black female investor on Shark Tank. Most recently, she’s teamed up with tennis champion Coco Gauff on a mentorship campaign with UPS.

Now, Grede says she’s always advising founders to copy her, be more bold and put themselves out on a limb: “An idea in your head is just an idea in your head—a lot of people talk and speak about things a lot, sometimes you just got to do.”

Emme Grede says she’s always been ‘audacious’

Grede’s confidence isn’t luck—or even something she developed alongside the billion-dollar success of her businesses. It’s a trait she was just born with. “I’ve got a lot of audacity and I think that you need that to get to where you want to go,” the East Londoner tells Fortune.

In her late teens, for example, Grede had aspirations of working in Britain’s equivalent of Broadway. When the theatre bosses ignored her handwritten notes asking for work experience, she stormed there in person.

“I remember pounding the pavement in the West End,” she recalls. “I just thought, because I didn’t get any answers, that maybe they weren’t getting my letters. So I took to hand delivering letters.”

Even when she was holding down a day job, she’d boldly ask customers with enviable careers for work experience—and it’d work.

“When I was working in a clothes shop, I would talk to everyone, I’d be like, ‘where do you work? What would you do?” If a stylist came in on a Friday and was doing a shoot on the weekend, I’d be assisting them on the weekend. I did that multiple times.”

She says she’d actively put herself into “situations”, versus passively waiting for opportunities to come to her. After finding out where customers worked, she’d follow up with: “Do you need some help? Can I come?”

Grede’s advice for jobless Gen Z: Kill your darlings

Millions of Gen Zers are currently unemployed—or rather, NEETs, not in employment, education or training. 

Grede, meanwhile, has been working since the start of high school.

“I have had a job since I was 12,” she says. “I started delivering newspapers, then I worked in a deli, then I worked in about four different clothing shops, then I spent a year and a half doing work experience in every small designer and PR agency in London. Then I worked for Quintessentially then I went to Inca productions, where I worked for a fashion show production company. And I changed my job after about three years there. So I went from being an event producer to running the sponsorship department, and then I started my own company.”

Essentially, each experience led to the next. She treated every role—no matter how unglamorous—as a way to collect skills, contacts, and credibility that stacked into her next move. Thanks to a habit of speaking up and standing out, she squeezed real, résumé-worthy experience out of even the most unassuming jobs.

Of course, even Grede experienced her fair share of no’s along the way: “I got very, very, very comfortable with rejection. If I think about how many things didn’t work out for me, there are a lot more than the things that seemingly on paper did work out.”

But she dusted herself off and tried again. It’s why her advice for those struggling to break in is to look at every experience as a step forward—even if it’s not the dream role yet. 

“I would think about the idea of transferable skills,” she advises Gen Z job seekers. “We all set ourselves up to think about exactly what we might want to do. And the reality is that you can learn pretty interchangeable skills anywhere.” 

Growing up, Grede was fixed on the idea of working in fashion. “I could have got a lot of those skills in an advertising agency or working in another creative industry,” she explains. Gaining experience at an art gallery or boutique and then working your way up the ladder, is much easier than pining for a job at a fashion house straight out of college. You just have to put aside your ego and prioritise building momentum, over perfection.

“I’d do anything to get yourself going in forward motion,” Grede explains. 

“In England, we have that lovely saying, ‘killing your darlings’ and sometimes you just have to kill your darlings. You have to do whatever you’ve got to do to move forward. It’s better to just think about forward motion as opposed to being so fixated on what you’d originally imagined things would be like.”

Read more: Self-made multimillionaire behind $4 billion Skims empire says she was ‘using AI like a 42-year-old woman’—until Mark Cuban gave her a wake-up call.



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Warren Buffett: Business titan and cover star

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Warren Buffett’s face—always smiling, whether he’s slurping  a milkshake, brandishing a lasso, or palling around with fellow multibillionaire Bill Gates—has graced the cover of Fortune more than a dozen times. And it’s no wonder: Buffett has been a towering figure in both business and 

investing for much of his—and Fortune’s—95 years on earth. (The magazine first hit newsstands in February 1930; Buffett was born that August.) As Geoff Colvin writes in this issue, Buffett’s investing genius manifested early, and he bought his first stock at age 11. By Colvin’s calculations, over the 60 years since Buffett took control of his company, Berkshire Hathaway, its returns have outpaced the S&P 500 by more than 100 to one.  

Buffett has always had a special relationship with Fortune, particularly with legendary writer and editor Carol Loomis, who profiled him many times, and to whom he broke the news of his paradigm-shifting moves in philanthropy in 2006 and 2010. The end of an era is upon us, as Buffett on Dec. 31 will step down from his role as Berkshire’s CEO. We’re grateful to have been along for the ride. 

Warren Buffett on the cover of Fortune in 2009 and 2010.

Cover photographs by David Yellen (2009), and Art Streiber (2010)

Warren Buffett on the cover of Fortune in 2003 and 2006.

Cover photographs by Michael O’Neill (2003), and Ben Baker (2006)

Warren Buffett on the cover of Fortune in 2001 and 2002.

Cover photographs by Michael O’Neill

Warren Buffett on the cover of Fortune in 1986 and 1998.

Cover photographs by Alex Kayser (1986) and Michael O’Neill (1998)



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Kimberly-Clark exec says old bosses would compare her to their daughters when she got promoted

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Women have their own unique set of challenges in the workforce; the “motherhood penalty” can set them back $500,000, their C-suite representation is waning, and the gender pay gap has widened again. One senior executive from $36 billion manufacturing giant Kimberly-Clark knows the tribulations all too well—after all, she’s one of few women in the Fortune 500 who holds the coveted role. 

Tamera Fenske is the chief supply chain officer (CSCO) for Kimberly-Clark, who oversees a massive global team of 22,665 employees—around 58% of the global CPG manufacturer’s workforce. She’s in charge of optimizing the company’s entire supply chain, from sourcing raw materials for Kimberly-Clark products including Kleenex and Huggies, to delivering the final product into customers’ shopping carts. 

It’s a job that’s essential to most top businesses operating at such a massive scale; around 422 of the Fortune 500 have chief supply chain officers, according to a 2025 Spencer Stuart analysis. However, most of these slots are awarded to white men; only about 18% of executives in this position are women, and 12% come from underrepresented racial and ethnic backgrounds. It’s one of the C-suite roles with the least female representation, right next to chief financial officers, chief operating officers, and CEOs. 

In fact, Fenske is one of just 76 Fortune 500 female executives who have “chief supply chain officer” on their resumes. However, the executive tells Fortune it’s an unfortunate fact she “doesn’t think about” too often—if anything, it motivates her further.

“Anytime someone tells me I can’t do something, it makes me want to work that much harder to prove them wrong,” Fenske says. 

The first time Fenske noticed she was one of few women in the room

Fenske has spent her entire life navigating subjects dominated by men—something she didn’t even consider until college. 

Her father, aunts, uncles, and grandfather all worked for Dow Chemical, so she grew up in a STEM-heavy household. Naturally, she leaned into math and science as well, eventually pursuing a bachelor’s in environmental chemical engineering at Michigan Technological University. It was there that her eyes first opened to the reality that she was one of few women in the room. 

“It definitely was going to Michigan Tech, where I first realized the disparity,” Fenske said, adding that there was around an eight-to-one male-to-female ratio. “As you continue through the higher levels and the grades, it becomes even more tighter, especially as you get into your specialized engineering.” 

Once joining the world of work, it wasn’t only Fenske who noticed the lack of women in senior roles—some bosses would even point it out. 

The Fortune 500 boss is paying it forward—for both men and women

After Fenske graduated from Michigan Tech, she got her start at $91 billion manufacturer 3M: a multinational conglomerate producing everything from pads of Post-It notes to rolls of Scotch tape. Fenske was first hired as an environmental engineer in 2000. Promotion after promotion came, but all people could seem to focus on was her gender.

“It would come to light when I moved relatively quickly through the ranks. Some of my bosses would say, ‘You’re the age of my daughter,’ and different things like that. ‘You’re the first woman that’s had this role at this plant or in this division,’” Fenske recalls. Over the course of 2 decades, she rose through the company’s ranks to the SVP of 3M’s U.S. and Canada manufacturing and supply chain. 

And anytime she was asked about her gender? She’d flip the questions back at them while standing her ground. “I would always try to spin it a little bit and ask them questions like, ‘Okay, so what is your daughter doing?’…I always try to seek to understand where they are coming from, but then also reinforce what brought me to where I am.”

Now, three years into her current stint as Kimberly-Clark’s CSCO, the 47-year-old is paying it back—but not just to the women following in her footsteps.

“I never saw myself as necessarily a big, ground-breaker pioneer, even though the statistics would tell you I was,” Fenske says. “I tried to give back to women and men, to be honest. Because I think men [are] one of the strongest advocates for women as well. So I think we have to teach both how to have that equal lens and diverse perspective.”



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SpaceX to offer insider shares at record-setting $800 billion valuation

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SpaceX is preparing to sell insider shares in a transaction that would value Elon Musk’s rocket and satellite maker at as much as $800 billion, people familiar with the matter said, reclaiming the title of the world’s most valuable private company. 

The details, discussed by SpaceX’s board of directors on Thursday at its Starbase hub in Texas, could change based on interest from insider sellers and buyers or other factors, said some of the people, who asked not to be identified as the information isn’t public. SpaceX is also exploring a possible initial public offering as soon as late next year, one of the people said. 

Another person briefed on the matter said that the price under discussion for the sale of some employees and investors’ shares is higher than $400 apiece, which would value SpaceX at between $750 billion and $800 billion. The company wouldn’t raise any funds though this planned sale, though a successful offering at such levels would catapult it past the record of $500 billion valuation achieved by OpenAI in October.

Elon Musk on Saturday denied that SpaceX is raising money at a $800 billion valuation without addressing Bloomberg’s reporting on the planned offering of insiders’ shares. 

“SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,” Musk said in a post on his social media platform X. 

The share sale price under discussion would be a substantial increase from the $212 a share set in July, when the company raised money and sold shares at a valuation of $400 billion. The Wall Street Journal and Financial Times earlier reported the $800 billion valuation target.

News of SpaceX’s valuation sent shares of EchoStar Corp., a satellite TV and wireless company, up as much as 18%. Last month, EchoStar had agreed to sell spectrum licenses to SpaceX for $2.6 billion, adding to an earlier agreement to sell about $17 billion in wireless spectrum to Musk’s company.

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The world’s most prolific rocket launcher, SpaceX dominates the space industry with its Falcon 9 rocket that lifts satellites and people to orbit.

SpaceX is also the industry leader in providing internet services from low-Earth orbit through Starlink, a system of more than 9,000 satellites that is far ahead of competitors including Amazon.com Inc.’s Amazon Leo.

Elite Group

SpaceX is among an elite group of companies that have the ability to raise funds at $100 billion-plus valuations while delaying or denying they have any plan to go public. 

An IPO of the company at an $800 billion value would vault SpaceX into another rarefied group — the 20 largest public companies, a few notches below Musk’s Tesla Inc. 

If SpaceX sold 5% of the company at that valuation, it would have to sell $40 billion of stock — making it the biggest IPO of all time, well above Saudi Aramco’s $29 billion listing in 2019. The firm sold just 1.5% of the company in that offering, a much smaller slice than the majority of publicly traded firms make available.

A listing would also subject SpaceX to the volatility of being a public company, versus private firms whose valuations are closely guarded secrets. Space and defense company IPOs have had a mixed reception in 2025. Karman Holdings Inc.’s stock has nearly tripled since its debut, while Firefly Aerospace Inc. and Voyager Technologies Inc. have plunged by double-digit percentages since their debuts.

SpaceX executives have repeatedly floated the idea of spinning off SpaceX’s Starlink business into a separate, publicly traded company — a concept President Gwynne Shotwell first suggested in 2020. 

However, Musk cast doubt on the prospect publicly over the years and Chief Financial Officer Bret Johnsen said in 2024 that a Starlink IPO would be something that would take place more likely “in the years to come.”

The Information, citing people familiar with the discussions, separately reported on Friday that SpaceX has told investors and financial institution representatives that it’s aiming for an IPO of the entire company in the second half of next year.

Read More: How to Buy SpaceX: A Guide for the Eager, Pre-IPO

A so-called tender or secondary offering, through which employees and some early shareholders can sell shares, provides investors in closely held companies such as SpaceX a way to generate liquidity.

SpaceX is working to develop its new Starship vehicle, advertised as the most powerful rocket ever developed to loft huge numbers of Starlink satellites as well as carry cargo and people to moon and, eventually, Mars.



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