Kanye W becomes the wealthiest black man in American history with net worth of $6.6B.

[Edoman]

Kanye West becomes the wealthiest black man in American history with net worth of $6.6 Billion








Kanye West has become the richest Black man in U.S. history, as it's revealed he's now worth a whopping $6.6 billion.
 
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” 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 by himself after he previously signed a 10-year agreement to design and sell clothes under the Yeezy Gap label last year, Bloomberg adds.
 
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.
 
It also comes amid his split with estranged wife Kim Kardashian, who filed for divorce last month. The couple share four children: daughters North, 7½, and Chicago, 3, and sons Saint, 5, and Psalm, who will turn 2 in May.
 

[Edoman]

Kanye West is NOT the richest Black person in America" - Forbes refutes report Kanye's businesses are now worth $6.6 billion







Forbes has denied reports that Kanye West is now the richest black man in America's history after his businesses were valued at $6.6 billion.
 
Multiple media outlets had reported that Kanye West is now worth $6.6 billion  after Bloomberg reported that his sneaker brand Yeezy as well as Yeezy Gap have a combined value of as much as $4.7 billion
 
However, Forbes says "it's not true."
 
The publication adds: "Based on our calculations. Forbes estimates he’s worth less than a third of that, or $1.8 billion."
 
Forbes further stated that "reports that the celebrity is worth nearly $7 billion are based on the magical thinking around sales that don’t yet exist. This is why he’s currently worth less than one third of that."
 
Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., with an estimated net worth of $6 billion. Nigeria's Aliko Dangote remains the richest black person in the world with a net worth of $11.8 billion.
 
Clearing the air, Forbes wrote on Instagram:
 

No, Kanye West is not the richest Black person in America. On Wednesday, multiple outlets reported that West is the richest Black person in America, worth as much as $6.6 billion.

The news comes after Bloomberg reported that his sneaker brand Yeezy—as well as Yeezy Gap, which has yet to sell one item of clothing—have a combined value of as much as $4.7 billion.

The publication mentioned, without going into full detail, an additional $1.7 billion in assets. It’s not true, based on our calculations.

Forbes estimates he’s worth less than a third of that, or $1.8 billion. That’s a big jump from last May when Forbes first pegged his net worth to be $1.3 billion, but nowhere near as much as the purported $6.6 billion. Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., worth an estimated $6 billion, while Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world. The reports are based on the magical thinking around sales that don’t exist yet. Forbes’ much more grounded number is based on current revenues—not theoretical future expectations.