Kyle Richards is opening up about her role in building The Agency alongside her estranged husband, Mauricio Umansky. The “Real Housewives of Beverly Hills” star shared new details about how the couple started the business and what led them into real estate during a recent podcast appearance.
Kyle Richards Explains How The Agency Began
Richards appeared on “The Bossticks” podcast on March 30, where she reflected on the early days of her marriage and Umansky’s career change. The Bravo OG explained that their journey into real estate began after a difficult moment for their family.
“Well, [when] it started, we had no money, and we didn’t have help or anything,” Richards said. “So he came home one day, I don’t think he’s told this, I think he does talk about this in his book. And he had been fired. He was in the clothing business, and he had lost his job. And I could tell he had been crying, and it just crushed me.”
Richards said the timing added pressure, as the couple had two young children at the time and the holidays were approaching.
“And it was right before Christmas, and he had no money,” she said. “And I was like, we needed money to buy Christmas presents for the kids, and the babies, Alexia [Umansky] was six months old, and Farrah [Brittany Aldjufrie] was seven.”
Richards said she suggested a plan that would change their future.
“So I said, ‘Why don’t we go and hire a babysitter once a week, and we’ll get our real estate license together.’ And that’s what we did,” she said. “We went to Santa Monica College and got our real estate license together.”
The RHOBH Star Reflects on Early Struggles With Mauricio Umansky
Richards said the early days were not easy, but the decision to pursue real estate proved to be important for their family.
“It was the best thing that ever happened to him, being fired that day,” she said.
She also described the challenges of raising a growing family while Umansky worked to build his career.
“And then I would call him in this two-bedroom condo with now three kids,” she said. “And I’d be like, ‘Where are you?’ And he’d say, ‘I’m at the golf course because there’s nothing going on. I’m trying to find something.’ I was literally a devil. I’d be like, ‘I am not going to live in a two-bedroom apartment for the rest of my life with three kids.’”
Richards added, “I mean, Sophia [Umansky] was in our room in a bassinet. And he’s like, ‘There’s nothing going on.’ I’m like, ‘I don’t care. Find something.’ And I was like, ‘I need a house. I need to get out of here.’”
“So we have regular, normal struggles, I think,” she said.
Umansky went on to build a successful career in real estate. According to Celebrity Net Worth, he has a net worth of $100 million, has sold $5 billion in property, and is still the CEO of The Agency.
Kyle Richards Addresses Ownership of The Agency on RHOBH
Richards has continued to speak about her connection to the company as her personal life with Umansky evolves. The couple is currently separated after 27 years of marriage.
In a preview for the season 15 reunion of “The Real Housewives of Beverly Hills,” host Andy Cohen asked Richards whether she would seek a share of The Agency if the couple divorced.
“Well, it’s mine,” Richards said in the clip.
Her sister, Kathy Hilton, followed up by asking, “Does he realize that?”
Part 2 of “The Real Housewives of Beverly Hills” reunion airs Thursday, April 30, on Bravo.
