Thanks to Anton Sizikov and https://kotlinlang.org/api/latest/jvm/stdlib/kotlin/repeat.html, we can write:
val sb = StringBuilder().apply{
    repeat(100) {
        append("*")
    }
}
But this is a simple way. Look at a power function. It has O(log n) complexity.
For StringBuilder:
private fun power(sb: StringBuilder, n: Int): StringBuilder =
    when {
        n == 0 -> StringBuilder("")
        n % 2 == 0 -> {
            val part = power(sb, n / 2)
            part.append(part)
        }
        else -> {
            val part = power(sb, n / 2)
            part.append(part).append(sb)
        }
    }
For String:
private fun pow(s: String, n: Int): String =
    when {
        n == 0 -> ""
        n % 2 == 0 -> pow(s, n / 2).repeat(2)
        else -> s + pow(s, n / 2).repeat(2)
    }
Then we can invoke them:
// 1.
val sb1 = StringBuilder().apply {
    repeat(100) {
        append("*")
    }
}
// 2.
val sb2 = power(StringBuilder("*"), 100)
// 3.
val s = power("*", 100)
println(sb1.toString())
println(s)
println(sb2.toString())