Forbes has announced Kanye West’s net worth as a billionaire on Friday 24th march 2020, though somehow unwillingly.
- Both Forbes and Bloomberg reported Friday that the hip-hop artist turned footwear mogul provided documents claiming that his net worth is more than $3 billion.
- According to Forbes , West has campaigned to be added to their annual Billionaires List for years, even once accusing the magazine of omitting him because of his race.
- West has complained about not being included on billionaire lists in the past, including during an appearance at The New York Times’ DealBook conference in November.
- Visit Business Insider’s homepage for more stories .
Kanye West is officially a billionaire, according to Forbes .
The declaration was the culmination of a years-long campaign by West to get added to the magazine’s annual Billionaires List, Forbes reported Friday. Forbes now says that the rapper and fashion designer is worth $1.3 billion, mostly because of his sole ownership of his brand Yeezy. West reportedly claims that he is worth $3.3 billion .
Bloomberg , which seemingly reviewed the same documents provided to Forbes , acknowledged that West’s accountant provided documents showing that he has more than $3 billion worth of assets, but stopped short of explicitly calling West a “billionaire.”
Bloomberg also wrote that Bank of America’s valuation of Yeezy may no longer be accurate, as it was calculated in 2019, before the COVID-19 pandemic took hold in the United States. The crisis sank US apparel, accessories, and footwear sales 79% lower in April than they were during the same time in 2019, Bloomberg restated. Bloomberg estimates that Yeezy may be faring above average, however, as it has no retail stores and relies on Adidas for logistics.
According to Forbes , Kenya West’s $1.3 billion net worth comes from:
- A $1.26 billion stake in athletic wear brand Yeezy, which Bank of America valued at $3 billion last year
- $17 million in cash
- $35 million in stocks
- $21 million in real estate
- $3,845,162 worth of vehicles
- $297,050 of livestock
- $53 million in debt, divided between West and his wife Kim Kardashian West
Kenya West publicly chastised Forbes ‘ preceding estimations of his net worth during an advent at The New York Times’ Dealbook conference in November. Kenya West stated Forbes “chose to call him a centi-millionaire,” despite having “showed them receipts,”.
Forbes restated, Kenya West’s campaign to be added to the Billionaires List didn’t end there. Zack O’Malley Greenburg whos Forbes editor wrote on Friday that when the magazine was published the list in March without Kenya West’s name but with his 22-year-old sister-in-law Kylie Jenner featured as the world’s youngest self-made billionaire for the second year running, West texted Forbes reporters accusing them of removing him because of his race.
“You know what you’re doing,” the hip-hop artist turned footwear mogul wrote, according to Forbes . “You are toying with me and I’m not finna lye [sic] down and take it anymore in Jesus name.”