Kanye West’s net worth hits $6.6billion to become richest black man in the history of United States of America, and the entertainment. This good news is coming after his divorce with wife, Kim Kardashian.
Kanye West’s net worth hit $6.6billion according to reports on Wednesday, as his net worth skyrocketed again, after announcing his clothing company and ‘Yeezy’ brand is in business with ‘Gap.’
The 43-year-old rapper is now worth $6.6 Billion which is a significant increase from back in April when Forbes announced he was officially a billionaire.
The new Gap collaboration with the Yeezy brand “could be worth as much as $970 million of that total,” Bloomberg reported.
According to documents, obtained by Bloomberg, Kanye has full ownership and creative control of the Yeezy brand and signed a 10-year deal to design and sell clothing under the ‘Yeezy Gap’ label.
In the collaboration, Kanye will produce items for men, women, and children, the only thing excluded will be footwear. As you know, Yeezy partnered with Adidas, a deal that lasts until 2026.
As for the breakdown of Kanye West’s net worth, the ‘Yeezy’ partnerships are valued between $3.2 and $4.7 billion by UBS Group AG.
The rapper has $122 million in cash and stock and his massive music catalog is worth, $110 million.
According to reports, Kanye also has $1.7 in additional assets which include his interest in ex-wife Kim Kardashian’s SKIMS business.
Adding to the massive success, Kanye’s Gap deal is expected to bring in $150 million in sales during its first full year of 2022.
Kanye was officially declared a billionaire in a Forbes article with cited the rapper’s net worth at around $1.3 billion. At the time, Kanye was not pleased with the analysis and reportedly texted the writer of the article “It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count.”
This latest news sees him extending the gap between himself and other rappers, such as Jay-Z, Diddy and the rest.