Kanye’s Net Worth Reportedly Jumps to $6.6 Billion

Kanye West’s net worth is said to have skyrocketed to $6.6 billion, a number that could make the rapper make the fashion mogul the richest black man in America – though estimates have caused some debate.

In a story published on Thursday, Bloomberg cites a UBS report that calculated the bulk of West’s fortune based on the burgeoning value of his Yeezy fashion line which has a current contract with German sportswear giant Adidas and a set The hotly anticipated collection with the main brand being Normcore is Gap.

One of the favorites of sneaker collectors and the fashion press, Yeezy is now worth between $3.2 billion and $4.7 billion, largely thanks to the brand’s deal with the fitness giant. German sports Adidas. The Yeezy-Gap deal, the collection coming later this summer, is expected to be worth more than $970 million. West is the sole owner of the Yeezy brand.

As for the rapper’s rest of his fortune, $1.7 billion comes from his substantial investment in fiancée Kim Kardashian’s Skims line of bodysuits, and he has $122 million in cash. and stocks, along with $110 million from his music portfolio.

If we take the $6.6 billion figure, the 43-year-old Westerner is now richer than Robert Smith, founder of Vista Equity Partners, David Steward of World Wide Technology, Oprah Winfrey and Michael Jordan and is black. richest in America.

Hours later Bloomberg story, however, Forbes, a publication synonymous with tracking the wealth of the super-rich, pushed that number back. In a blog post, Forbes say Bloomberg numbers are “incorrect, based on our calculations” and that “Forbes estimated his worth at less than a third, or $1.8 billion. “

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“The Bloomberg the story quotes a UBS report on his businesses – same document Forbes saw earlier this month,” Forbes ‘ Madeline Berg writes. “The bank has made some assumptions based on expected future earnings, especially for Yeezy Gap, which hasn’t even launched yet. Banking documents like this are notorious for plotting best-case futures valuations. “

She added: “Forbes‘the much more grounded figure is based on the antiquated idea of ​​current revenue – not theoretical future expectations. Yeezy Gap did not bring in revenue let alone profit.”

Even in Forbes ‘ By much lower estimates, West’s stratospheric wealth is a far cry from the 2016 low, when he revealed he was $53 million in debt and was asking Facebook’s Mark Zuckerberg $1 billion to invest. invest in your ideas.

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