Kanye West Is Worth BILLIONS As He Becomes Wealthiest Black Man In American History
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Kanye West may be going through a divorce from Kim Kardashian, but he is still focused on growing his business. With the success of his Yeezy brand with Adidas and looming collaboration with Gap Inc., he has now become the wealthiest black man in American history. How much is Kanye West’s net worth?
Kanye West’s Net Worth Is Massive Due To Yeezy Brand
According to private documents obtained by Bloomberg, the value of Kanye’s Yeezy brand is between $3.2 billion to $4.7 billion by UBS Group AG. A brand new Yeezy collaboration with Gap set to hit stores this summer could be worth $970 million of that sum. The Yeezy Gap label will include clothing for men, women and children and is expected to be a top seller.
It is also projected that the first year’s sale of the Yeezy and Gap collaboration will be somewhere around $150 million. In this 10-year deal, Yeezy Gap is projected to be worth billions. His Yeezy brand with Adidas has also had a steady incline of sales even during the coronavirus pandemic. Sales grew 31% to around $1.7 billion in annual revenue in 2020. This earned the 43-year-old rapper $191 million in royalties.
This is huge news for Kanye who has struggled with debt in the past. After first launching his clothing line, Kanye said that he was $16 million in debt. He also tweeted in 2016 that he was $53 million in personal debt. Whether or not this is an accurate figure remains to be seen.
Kanye is also making some big bucks from other avenues. Based on an unaudited balance sheet of his finances, Kanye has $122 million in cash and stocks. He has $1.7 billion which includes an investment in Skims, his soon-to-be ex-wife Kim Kardashian’s shapewear line. And of course, Kanye’s music catalog is worth a whopping $110.5 million. All of this adds up to a net worth of around $6.6 billion.
Kanye Is Growing His Business Amid Divorce
News of Kanye’s net worth growing to $6.6 billion comes as he is dealing with his divorce from Kim. “Kanye has been trying to throw himself into work the past few weeks, but it’s been hard to stay focused with the split weighing on him,” a source told Us Weekly. “Kim was always Kanye’s dream girl — even before they got together — so the thought of her not being his wife anymore is a lot to take in.”
Kim and Kanye are reportedly not speaking anymore and are still dedicated to co-parenting their four children. According to Page Six, Kanye allegedly changed his phone number and told Kim that she can only contact him through his security guards. Neither Kim nor Kanye are contesting to the prenup in place during their divorce proceedings.