By Oyinlola Awonuga Balogun (The New Diplomat’s Entertainment, Fashion and Sports Desk)
American rapper Kanye West has become the richest Black man in U.S history, as Forbes revealed he’s now worth a whopping $6.6 billion.
According to reports, the 43-year-old’s worth is as a result of his business known as “Yeezy line” which has now partnered with Adidas AG.
Also the business is also partnering with Gap Inc, with the business valued between $3.2 billion and $4.7 billion.
According to Bloomberg, the upcoming collaboration between Yeezy and Gap – which is set to hit stores this summer “could be worth as much as $970 million of that total” with additional income coming from his music catalog, cash, stocks and business investments such as estranged wife Kim Kardashian’s SKIMS underwear brand.
As well as having $1.7 billion in other assets, ‘Ye has $110 million from his music catalogue and $122 million in cash.
West currently has full ownership and creative control of the Yeezy brand after he previously signed a 10-year agreement to design and sell clothes under the Yeezy Gap label last year, Bloomberg added.
Citing the document obtained by their outlet, Bloomberg noted that the new Gap line is expected “to break $150 million in sales in its first full year in 2022.”
News of Kanye’s worth comes days after his 22nd Grammy win for Best Contemporary Christian Music Album for his LP Jesus Is King which has sparked reactions online.
- See some reactions:
Net worth. Not liquid assets. The idea has the potential to be worth billions. His shitty yeezy that he just dropped sold out instantly. He puts his name on anything and hype beasts will eat it up. He can turn fucking GAP into a luxury brand. That’s a HUGE financial asset.@SaintTrill_
What a bosssssssss! In U.S HISTORY! Manifestation at its absolute peak 💯@Biggest_bawwse
Kanye West proclaiming he’ll be a billionaire in 4 years while sitting in $50 million of debt and now sitting on a net worth of $6.6 billion, achieving everything people called him crazy for saying is proof that no matter what he says he’ll do, you can never write him off.@AllLoveHipHop
5 years ago, Kanye West was $53 Million Dollars in debt.
Today, Kanye West is now the richest black person in US History. https://t.co/Ig2Y2ppHhv@Scootpy_Whoop
