It’s hard not to admire Kim Kardashian. The reality TV star turned social influencer has made a motza flogging everything from cosmetics to body-sculpting underwear. But even her considerable star power failed to impress the US Securities and Exchange Commission.
Back in 2022, Kardashian was fined $US1.26 million ($1.93 million) for crossing over into ‘finfluencer’ territory, touting financial products on social media, in this case cryptocurrencies, without making it clear she was paid for the post.
With earnings said to be in the order of $US2 million ($3 million) per post, Kardashian can probably afford to drop a couple of million on a fine. The trouble is that she is far from alone.
Globally, the number of influencers is stratospheric. Around 64 million people worldwide are classified as ‘influencers’, flogging ideas or wares to their followers, in return for a fee (or a few freebies) from the companies whose products
