Kanye West may be different things to different people but today, according to Forbes, he has become the richest black man in US history, with his net worth reported to have reached $6.6bn (£4.7m).
He is officially a billionaire, according to Forbes
The new total gives West a commanding lead over the likes of investor and businessman Robert F Smith and basketball legend Michael Jordan.
After claiming he was $53m (£38m) in debt just three years ago, the rapper and fashion tycoon became a certified billionaire last year with the help of his successful apparel and sneaker brand, Yeezy, and a new multi-year contract with clothing retailer Gap
According to Bloomberg, West’s Yeezy brand – and deals with Gap and sportswear giant Adidas – is valued at $3.2bn (£2.2bn) to $4.7bn (£3.4bn).
The new Yeezy Gap line, set to release later this summer, is expected to be worth more than $970m (£694m).
As he is the sole owner of the Yeezy company, much of West’s personal net worth comes from there.
Some also comes from the $1.7bn (£1.5bn) that he earns from additional assets – including his significant investment into his soon-to-be ex-wife’s Skims label
Reality star Kim Kardashian – who herself became a billionaire last summer – recently filed for divorce from the Gold Digger rapper after nearly seven years of marriage.
TMZ said sources described the divorce as “amicable”, saying Kardashian West is asking for joint legal and physical custody of the couple’s four children, which West is “fine” with.
Despite the COVID pandemic, sales for Yeezy’s Adidas trainers continued to grow, rising by 31% to nearly $1.7bn (£1.5bn) in annual revenue last year and making Yeezy $191m (£136.70m) in royalties, according to a private document reviewed by Bloomberg.
An unaudited balance sheet of West’s finances has also revealed that West has $122m (£87m) in cash and stock, while his entire music catalogue is worth $110.5m (£79m).
Despite now being officially classed as a billionaire, West was unhappy with Forbes and claimed they had undervalued him.
“It’s not a billion,” West reportedly said in a text to the magazine. “It’s 3.3 billion since no one at Forbes knows how to count.”
He had been left displeased with an article from last year in which Forbes refused to class him as a billionaire. West is said to have texted a reporter it was a “disrespectful article” that was “purposely snubbing me”.
His ire was further provoked earlier this month when Forbes released its annual billionaires list, with West’s name absent.
“You know what you’re doing,” West is said to have texted a Forbes journalist. “You’re toying with me and I’m not finna lye down and take it anymore in Jesus name.”
