WOW!!! Kanye West is now richest black man in US history
Kanye West has become the richest black man in US history, with his net worth reported to have reached $6.6bn (£4.7bn).
The 43-year-old rapper is currently facing a divorce from his wife Kim Kardashian. But the couple reportedly signed a prenuptial agreement and neither party is contesting the terms of the document.
After claiming he was $53m (£38m) in debt just three years ago, the rapper and fashion tycoon became a certified billionaire last year with the help of his successful apparel and sneaker brand, Yeezy, and a new multi-year contract with clothing retailer Gap.
PEOPLE confirmed that West new net worth is a significant increase from the amount that he was reported as being worth back in April 2020 by Forbes.
West’s sneaker and apparel business Yeezy, which is now in partnership with Adidas AG and Gap Inc., is valued between $3.2 billion and $4.7 billion by UBS Group AG.
The value of the new Gap collaboration with Yeezy, which is scheduled to hit stores this summer, “could be worth as much as $970 million of that total,” Bloomberg reported, citing a bank estimate.
He has full solo ownership and creative control of the Yeezy brand and signed a 10-year agreement to design and sell clothes under the Yeezy Gap label in 2020. West also has $122 million in cash and stock and $110 million from his music catalogue, alongside $1.7 billion in other assets, including estranged wife Kim Kardashian’s SKIMS business.
In April 2020, West claimed at the time that his net worth was more than $3 billion after Forbes reported that his net worth was much lower than he claimed. Forbes reported that the rapper is worth $1.3 billion, according to a previous report.
Despite the business magazine’s analysis, West maintained that his net worth is higher, and reportedly texted Forbes, “It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count.”
Kardashian filed for divorce in mid-February. The couple share four children: daughters North, 7½, and Chicago, 3, and sons Saint, 5, and Psalm, who will turn 2 in May.