Kanye West’s net worth has now been revealed and he’s said to be worth a whopping $6.6 billion – making him the wealthiest black man in American history!
The 43-year-old’s worth is led by his Yeezy line which is now in partnership with Adidas AG and 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.”
As well as having $1.7 billion in other assets, West has $110 million from his music catalogue and $122 million in cash.
Although he has sole ownership and creative control over his Yeezy brand, Kanye signed a 10-year deal to design and sell clothes for men, women and kids under the Yeezy Gap label in 2020. The partnership is set “to break $150 million in sales in its first full year in 2022.” For the brand’s collaboration with Adidas, it will come to an end in 2026.
Back in April 2020, the father of four divulged that he was worth more than $3 billion. After Forbes revealed that his wealth was much lower than his claim, he allegedly texted the magazine, “It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count.”
In 2019, Kanye’s net worth was estimated just to be $240 million. It made him the fourth wealthiest hip-hop star after Sean “P. Diddy” Combs, who was worth $740 million, Dr. Dre with his $800-million worth, and Jay-Z who secured the first rank with his $1-billion net worth.
Gap believes the collaboration will become a billion-dollar brand within eight years and could bring in $1 billion by 2023.
“I spoke to Yeezy last night and he’s very, very focused on this incredible opportunity,” said Gap’s CEO Sonia Syngal when providing an update on the line earlier this month.
Kanye has been showing off pieces from the collaboration as far back as July of last year. Yeezy Gap is expected to offer co-branded apparel for men, women, and children when it hits store shelves this year.
News of Kanye’s worth comes days after his 22nd Grammy win for Best Contemporary Christian Music Album for his LP Jesus Is King. It also comes amid his break-up with Kim Kardashian, who filed for divorce last month.