Home Celebrity Alert Kanye West’s Net Worth Soars To $6.6 Billion – He Is Now The Richest African-American In US History

Kanye West’s Net Worth Soars To $6.6 Billion – He Is Now The Richest African-American In US History

by TMA
Kanye West's Net Worth Soars

With 22 Grammy wins, 140 million collection/single deals and innumerable world visits, Kanye West is impartially probably the best artist ever. With a flourishing shoe and clothing business, he is additionally quite possibly the best and affluent big names in the world. Furthermore, with two new huge business valuations, we have new award for his resume: Kanye West is currently authoritatively the most extravagant individual of color in US history.

Last April we learned interestingly that Kanye West was a tycoon after new insights concerning the great achievement of his Yeezy image were disclosed. All things considered, a tycoon, however a multi-extremely rich person. By then we assessed that Kanye West’s total assets was $3.2 billion.

With some new data that was uncovered today, we are currently refreshing our gauge of Kanye’s own fortune.

As per new valuations arranged by speculation bank UBS, Kanye’s shoe/attire organization with Adidas is worth between $3.2 billion and $4.7 billion. Kanye claims 100% of the Yeezy brand, so those valuations go directly to his primary concern. Besides, as per UBS, his association with The Gap is valued at $1 billion.

With these new valuations, we are set up to report the accompanying:

Kanye West’s total assets is $6.6 billion

The Richest African-American In US History

At $6.6 billion, Kanye West is currently the most extravagant Black individual in American history.

He jumps from fourth spot to initially put, outperforming Oprah Winfrey’s $3.5 billion total assets, David Steward’s $3.9 billion total assets and Robert F. Smith’s $6.5 billion. Michael Jordan is currently the fifth-most extravagant Black individual in the US, with a total assets of $2.2 billion.

According to our observation, Kanye West is the third most extravagant big name on the planet, behind just Steven Spielberg ($7 billion) and George Lucas ($10 billion).

How Is Kanye So Rich?

Here’s the main thing people don’t understand – Imagine if Michael Jordan actually OWNED the Jordan brand and simply had a distribution partnership with Nike. That’s what Kanye has with Yeezy and Adidas. If Nike sold the Jordan brand, Michael would continue to earn royalties from the new owner, but he wouldn’t make anything from the sale – though obviously the acquirer would be wise to make sure Michael was VERY happy with the transaction.

Kanye owns 100% of Yeezy.

In 2020 he extended his partnership with Adidas for another 10 years, but he still maintains 100% creative and equity control.

If the brand continues at its current pace, when that 10-year deal is up, Kanye could be left owning of the most valuable apparel brands in the world, as a free agent. As a solo operator.

There’s nothing stopping Kanye from spending the next decade ramping up his own production facilities. If only he owned massive amounts of land somewhere in the US where it would be dirt cheap to build a bunch of shoe factories… Somewhere business friendly… Perhaps even a state that has no state income tax and one of the lowest sales taxes in the US….hmmm… What state has all of that… Oh right, WYOMING.

[FYI to those who were not aware, Kanye owns around 8,000 acres of undeveloped land in Wyoming, including a $2 million commercial warehouse facility.]

Here are Yeezy’s actual revenues from 2017 to 2020:

2017 = $300 million

2018 = $864 million

2019 = $1.5 billion

2020 = $1.7 billion

Note that even during a global pandemic, Yeezy revenue managed to increase 13%, 2019 vs. 2020.

According to the UBS, Kanye personally NETTED $191 million in royalties from his 2020 operations.

The same UBS document shows that outside of his Adidas and Gap partnerships Kanye has around $1.7 billion in other assets, including around $100 million in real estate, a music catalog valued at $110 million and a significant equity stake in his soon-to-be ex-wife Kim Kardashian’s underwear/shapewear business, Skims.

According to the documents released last year, Kanye only has around $100 million in debt (“only” because it’s a relatively low amount of debt for someone with his assets).

And if you’re wondering whether Kim will be potentially taking a huge chunk of Yeezy in their divorce proceedings, we’ve been told that outside of his investment in Skims, Kanye and Kim’s finances were strictly separate during their marriage and that they have a rock-solid prenup.

Congrats to Kanye West! Keep up the impressive work! Let me know if you ever want to add a celebrity finance website to your growing portfolio of business assets

 

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