Kanye West is now the richest black man in Americanhistory with a net worth US$6.6 billion.
With this new total as reported by Bloomberg, West surpassed investor and businessman Robert F Smith, and basketball legend Michael Jordan. And it’s all thanks to his Yeezy sneaker business.
According to Bloomberg, Yeezy is currently worth between $3.2 billion and $4.7 billion. Additionally, sales for Yeezy’s Adidas sneakers have continued to grow during the pandemic, increasing nearly 31 per cent to nearly $1.7 billion in annual revenue last year. Yeezy’s footwear partnership with Adidas currently runs through 2026.
The outlet also reports that West’s upcoming Gap collab could be worth as much as $970 million, with additional income coming from his music catalogue, cash, stocks and business investments such as estranged wife Kim Kardashian’s SKIMS underwear brand.
Documents also reveal that Gap expects West’s clothing and apparel collection to break $150 million in sales in its first full year in 2022. The company also envisions it becoming a billion dollar revenue brand within 8 years, with potential to exceed $1 billion as soon as 2023.