Kanye West reaches $6.6 billion in net worth and becomes the richest black man in US history
With the success of his Yeezy brand, which has solid partnerships with Adidas and Gap in the footwear and apparel business, Kanye West has become a billionaire, and his numbers are steadily increasing. According to a new report by PEOPLE magazine, since the last update of his financial status released by Forbes in April 2020, Kanye has had a net worth of $6.6 billion, becoming the richest African American in history .
The magazine says its YEEZY line, which has partnership contracts with Adidas AG and Gap Inc. closed for many years, is estimated to be worth between $3.2 billion and $4.7 billion by UBS Group AG.
“The value of Gap’s new collaboration with Yeezy, which is expected to hit stores this summer, may correspond to $ 970 million of that total”, Bloomberg said.
The artist is said to also have $122 million in cash and shares and $110 million from his music catalog, in addition to $1.7 billion in other assets, including Kim Kardashian’s SKIMS business. Citing a document obtained by its distributor, Bloomberg noted that the new line Gap x Yeezy should “debut with $150 million in sales at the end of its first year on the market”.