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Kanye West becomes richest black man in US history with £4.7bn fortune

Kanye West is the richest black man in US history, according to reports, with his net worth now estimated to have reached $6.6bn (£4.7bn).

Bloomberg is reporting the latest figures which give the rapper a larger fortune than basketball legend Michael Jordan or businessman Robert Smith.

Just three years ago, the music star – who also owns a fashion empire – claimed he was $53m (£38m) in debt.

But West became a certified billionaire last year – thanks in part to his
brand Yeezy and a multi-year contract with retailer Gap. The ten-year
contract was signed in June 2020. Forbes estimated his net worth at $1.3
billion in April 2020.

According to Bloomberg, Yeezy and its affiliated partnerships is now valued at
between $3.2bn (£2.2bn) and $4.7bn (£3.4bn) it its own right.

The new Yeezy Gap line is thought to be worth more than $970m (£694m). It will be released this summer.

West is the only owner of Yeezy – so most of his net worth comes from the brand and not from his record deals or music.

Some of his fortune comes from additional assets which would include his stake in his soon-to-be ex-wife Kim Kardashian’s Skims label.

Kardashian, who has been married to West for seven years and has four children with him, was also certified a billionaire last summer.

Sales for Yeezy’s Adidas trainers have continued to grow despite tough

trading conditions due to the pandemic. Figures obtained by Bloomberg
suggest annual revenue increased by 31 per cent to nearly $1.7bn (£1.5bn).

West also has $122m (£87m) in cash and stock. His music catalogue is said to be worth $110.5m (£79m).

The pair have reportedly spent little time together in recent months, with
West, 43, said to be spending most of the time at his home in Wyoming and Kardashian West, 40, opting to stay primarily in Los Angeles.

The couple tied the knot at a lavish ceremony in Florence, Italy, in May 2014.

They had been friends for years prior to their marriage, with West appearing
in a 2010 episode of Kourtney And Kim Take New York.

They began dating in 2012 while Kardashian was still legally married to professional basketball player Kris Humphries.

They have had four children together since 2013 – North, seven, Saint, five, Chicago, three, and Psalm, one.

Those rumours reached fever pitch in January, with multiple US outlets
suggesting divorce was imminent, claiming West had been living at his
ranch in Wyoming while Kardashian had been with the children in California.

Much of the split is expected to be revealed in the final season of Keeping Up With The Kardashians, which premieres in the US tonight.

It will be available in the UK via the Hayu streaming service.

Source: Evening Standard

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