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Kanye West's Net Worth Jumps To $6.6 Billion: Report
The rapper-turned-clothing mogul reportedly is now worth 6.6 Billion USD, thanks to the boost in Yeezy sneaker sales and the projected earnings from the upcoming Yeezy Gap line.
The rapper-turned-clothing mogul reportedly is now worth 6.6 Billion USD, thanks to the boost in Yeezy sneaker sales and the projected earnings from the upcoming Yeezy Gap line. The Hollywood Reporter has revealed that Kanye West has now become the richest Black person in America. However, the estimate has sparked debates as Forbes have claimed that there are disputes in the figure.
Yeezy has an existing deal with German sportswear giant Adidas which brings the fashion line's net worth between $3.2 billion to $4.7 billion. However, the new anticipated collection in collaboration with Gap is expected to be worth more than $970 million according to a Bloomberg report.
While West is the sole owner of the Yeezy brand, he had other earnings coming from his music catalogue worth $110 million and investments worth $1.7 billion in the shapewear company Skims owned by his soon to be ex-wife Kim Kardashian. The rapper has $122 million in cash and stocks as well, as reported by The Hollywood Reporter.
If the reports are to be believed West is now richer than celebrities like Oprah Winfrey and Michael Jordan, and Vista Equity Partners founder Robert Smith, World Wide Technology's David Steward.
Meanwhile, Forbes has estimated that the rapper is "worth less than a third of that, or $1.8 billion." A Forbes blog post by Madeline Berg has claimed that the Bloomberg figure was "not true, based on our calculations".
Forbes has been known to keep track of the wealth of the super-rich. Madeline said that Bloomberg's story cited a UBS report on West's business which is "based on projected future earnings, particularly for Yeezy Gap, which hasn't even launched yet. Bank documents like this are well-known for painting best-possible-scenario future valuations."
Talking about Forbes' estimate, she said their calculations are "much more grounded" and are "based on that old-fashioned idea of current revenues-not theoretical future expectations. Yeezy Gap has brought in no revenue, let alone any profits."
