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Kanye West: we all know him as the former husband of reality star Kim Kardashian, but there is a lot more to the man. He has created a million-dollar empire through his career as a rapper and now as a streetwear mogul. His net worth is valued at 1.8 billion dollars, but that may all change with his newest business venture. His new Yeezy-Gap deal is expected to be huge.
Yeezy, Kanye’s shoe and clothing line, has been rising in popularity since 2013 when he first made a 10 million deal with Adidas. The fashion, which is memorable because of its simple colors and interesting shapes, has become popular among sneakerheads. Since 2013, “Yeezy is now worth between $3.2 billion to $4.7 billion, primarily due to the brand’s deal with German sportswear giant Adidas. The Yeezy-Gap deal, which will see a collection released later this summer, is expected to be worth more than $970 million.”
Because of Yeezy, Kanye West has officially become a billionaire – a milestone that the rapper has been aiming at for a while. A Bloomberg report says that Kanye West’s net worth will soon jump to 6.6 billion. This would make him the richest Black person in America, surpassing celebrities such as Oprah Winfrey and Michael Jordan.
Forbes magazine denies this and says that the report doesn’t have enough context. Spokesperson Madeline Berg says: “The Bloomberg story cites a UBS report on his businesses — the same document Forbes saw earlier this month. The bank made a number of assumptions based on projected future earnings, particularly for Yeezy Gap, which hasn’t even launched yet. Bank documents like this are well-known for painting best-possible-scenario future valuations.”
He’s not only a rapper, but Kanye is still making money from his music. Overall, he possesses $200 million in other assets outside of his Yeezy brand. This includes real estate holdings and his music catalog. In 2020 he was the second-highest paid celebrity and boasted nearly 100 million digital downloads along with 21 million records of his music. Reports from Bloomberg claim Kanye’s music is worth about 110.5 million.
Whether Kanye West’s net worth will jump to $6.6 billion is still unknown, but it’s not impossible. Kanye has a lot of investments that have helped him earn his money. His most recent was a $1.7 billion dollar investment into his ex-wife Kim Kardashian’s Skims shapewear line.
His recent divorce only seemed to affect his real estate holdings. After the couple separated, Kim Kardashian kept the $20 million home that the couple had built in Los Angeles. Kanye purchased a ranch in Wyoming for $7.7 million. The ranch is known as Monster Lake Ranch Resort and is separated into parcels of land which each contain eight luxury cabins that can house 20 people each. Kanye West reportingly now owns 3 parcels.
Kanye West is also reportingly in a new relationship with model Irina Shayk. Irina has some serious money of her own, with an estimated net worth of about $25 million. Who knows what these two entrepreneurs could create together!