Numerous outlets, including us, have reported that Kanye West is worth US$6.6 billion, according to a Bloomberg report.
That report by Bloomberg says West’s Yeezy sneaker line and Yeezy Gap clothing brand have a combined value of $4.7 billon. Plus the rapper turn businessman has $1.7 billion in other assets.
However, Forbes Magazine says the reports of the artiste’s wealth are greatly exaggerated.
Forbes says West actually has a net worth of $1.8 billion, a significant difference but more than the $1.3 billion they reported him at last May
In addressing the difference, Forbes said his wealth is inflated on assumptions of projected future earnings, especially for Yeezy Gap which hasn’t even launched.
With no revenue, let alone profits, Forbes says assuming the lline will be popular is a bit of a stretch. Similarly, the assumption that Yeezy continues to be the juggernaut it is now is also optimistic, although it notes the brand has room for growth (and even increased revenue by 30 per cent in 2020).
The actual breakdown of Yeezy’s wealth, impressive, but not richest black person in America impressive, is as follows:
Yeezy: $1.5 billion
Cash and other assets: $160 million
Music catalogue: $90 million
Skims: $64 million
Yeezy X Gap: $0