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Monday, December 4, 2023

Is Kanye West the richest black man in the U.S? Here’s all you need to know

CALIFORNIA: The 43-year-old American rapper, fashion designer, and former presidential candidate, is reportedly referred to as one of the richest black men in the United States with an estimated fortune of $6.6 billion amid the divorce with wife Kim Kardashian.

Kanye saw a sheer spike in his assets after his shoe-wear brand, Yeezy – a collaboration with Adidas, was valued between $3.2 billion and $4.7 billion by UBS Group AG. The media reports depicted skyrocketing 30 percent increase in sales of Yeezy amid the ongoing Covid-19 pandemic.

U.S media giant Bloomberg claimed that the Grammy holder has 100 percent ownership of the Yeezy. Other than expensive shoe brand, the singer also signed an agreement under the Yeezy Gap label in 2020- which is expected to break $150 million in sales in its first full year in 2022.

He also holds $122 million in cash while his music catalog holds a staggering $110 million. In addition, he also holds an estimate of $1.7 billion in other resources including a major investment in Kim Kardashian’s shapewear brand. Apart from this, he also owns around 8,000 acres of land in Wyoming, as well as a $2 million commercial storehouse.

Some media reports show Kanye as the third richest celebrity in the world behind Steven Spielberg and George Lucas.

Following the media reports of the richest black person, American business magazine Forbes suggested otherwise as according to them ‘It’s not true as Kanye estimates less than a third of $1.8 billion’.

Many still find the Forbes report skeptical as earlier; the singer accused Forbes of ‘purposely snubbing’ him. On the other hand, Forbes claimed that a much more grounded number is based on the old-fashioned idea of current revenues but not on theoretical future outlook.


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