Finally, Forbes has officially Declares Kanye West a billionaire.
The news came after Kylie Jenner, West’s sister-in-law was named by Forbes as the youngest ‘self-made’ billionaire for the second year in a row after selling off 51% of her cosmetics brand.
When Kanye was continually scolded for drawing sneakers’ designs instead of doing his assignments, little did he know that he was going to make millions from that according to Forbes Magazine.
When interviewed about his success with Yeezy, Kanye West, the Black American rapper was featured on the cover of Forbes Magazine last summer.
Although West was not pleased at first for not been mentioned as part of the billionaires’ club, he said at a panel discussion “I showed them an $890 million receipt and they still didn’t say ‘billionaire’.”
He went ahead to provide a document to the publication, showing them an “authentic numeric look into Kanye, Inc.”
Looking at the breakdown of his wealth, Forbes said that West’s team provided statements that showed the rapper has $17 million in cash, $35 million in stocks, $81 million in “buildings and improvements” and $21 million in land.
They equally looked into Adidas Yeezy, the fashion collaboration between Kanye West and the German sportswear brand, which they claim has a revenue worth of around $1.3 billion, and around $140 million from sales just last year.
Forbes estimate that West’s Yeezy cut of the $140 million makes his stake worth about $1.4 billion, however, they noted that it’s a ‘private, highly-illiquid $1.4 billion’ pegging it closer to $1.26 billion.
Kanye says his net worth to be around $3.3 billion. He is however now a member of the billionaires’ club.