According to
Forbes, Kanye West’s brand, Yeezy, which he owns in its’ entirety and falls
under the Adidas umbrella, helped push him over the $1 billion mark.
The American
rapper and business mogul, Kanye West has now been named a Billionaire by
Forbes, making him the second American rapper to reach that status after Jay-Z.
The
publication said they dissected the Chicago rapper’s success with Yeezy, while
also sharing how they tabulated Kanye’s net worth.
Nonetheless,
a decent portion of Kanye’s net worth can be attributed to his royalty
agreement with Adidas.
West receives
a “royalty around 15% of Yeezy revenue from Adidas. Meanwhile, Kanye West’s
team provided a statement of the rapper’s assets, which were listed as $17
million in cash, $35 million in stocks, $81 million in “buildings and
improvements,” $21 million in land, as well as his G.O.O.D. label and
publishing rights, which is said to be worth at least $90 million. There were
also a sizable deduction for $100 million worth of debts, which included
mortgages and advances.
Forbes puts
Kanye’s estimated net worth at $1.3 billion.
But Kanye
reportedly disagreed with Forbes. “It’s not a billion,” he allegedly texted the
reporters, “It’s $3.3 billion since no one at Forbes knows how to count.”
West in an
exclusive interview with GQ magazine, had alluded to his discomfort with the
Left’s hate for billionaires.
He claims
being shamed or not being allowed to be a billionaire is not freedom.
“I remember
when I became a billionaire I was told not to say out loud that I was a
billionaire. What? What is the point of being a billionaire if you can’t even
say it out loud? We’re not completely free yet,” West said.
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