Kanye West becomes the 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 new total has been reported by Bloomberg and gives Westa commanding lead over the likes of investor and businessman Robert F Smith and basketball legend Michael Jordan.

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.

Yeezy, West’s sneaker and apparel business with Adidas AG and Gap Inc., is valued at $3.2bn (£2.2bn) to $4.7bn (£3.4bn). Pic: FASHION SOCIETY
Image:Yeezy, West’s sneaker and apparel business with Adidas and Gap, is valued at $3.2bn (£2.2bn) to $4.7bn (£3.4bn). Pic: Fashion Society

According to Bloomberg, West’s Yeezy brand – and deals with Gap and sportswear giant Adidas – is valued at $3.2bn (£2.2bn) to $4.7bn (£3.4bn).

The new Yeezy Gap line, set to release later this summer, is expected to be worth more than $970m (£694m).

As he is the sole owner of the Yeezy company, much of West’s personal net worth comes from there.

Some also comes from the $1.7bn (£1.5bn) that he earns from additional assets – including his significant investment into his soon-to-be ex-wife’s Skims label.

More from Kanye West

  • Tearful Kim Kardashian West ‘feels like a loser’ in trailer as final series of TV show documents breakdown of marriage to Kanye West

  • Kim and Kanye – from Hollywood’s hottest couple to unhappily ever after

  • Kim Kardashian files for divorce from Kanye West after nearly seven years of marriage

  • The year of the billionaire

  • Kanye West concedes US election defeat – but says he’ll run for president again in 2024

  • Kanye West buys Kim Kardashian a hologram of her late father Robert Kardashian for her 40th birthday

Reality star Kim Kardashianwho herself became a billionaire last summerrecently filed for divorce from the Gold Digger rapper after nearly seven years of marriage.

TMZ said sources described the divorce as “amicable”, saying Kardashian West is asking for joint legal and physical custody of the couple’s four children, which Westis “fine” with.

Kim Kardashian and Kanye West have filed for divorce
Image:Kim Kardashian and Kanye West have filed for divorce. Pic: AP

Despite the COVID pandemic, sales for Yeezy’s Adidas trainers continued to grow, rising by 31% to nearly $1.7bn (£1.5bn) in annual revenue last year and making Yeezy $191m (£136.7m) in royalties, according to a private document reviewed by Bloomberg.

An unaudited balance sheet of West’s finances has also revealed that West has $122m (£87m) in cash and stock, while his entire music catalogue is worth $110.5m (£79m).

Mark Gibson

Graduates in Northwestern University, Evanston, Illinois 1990. Move to Los Angeles California in 2004. Specialized in Internet journalism.

Leave a Reply

Your email address will not be published. Required fields are marked *