All hail the new billionaire who has officially registered his presence on the coveted Forbes’ list of the mega-rich! Kanye West, rapper and fashion designer, has formally been declared a billionaire via an article that was published Friday.
Kanye has always claimed to be a billionaire, but no one seemed to take him seriously, that is until he provided authentic documentation to back his claim.
According to the outlet, the business mogul provided an eye-popping glimpse into his personal finances. Kanye’s net worth was valued at $1.3 billion.
Here’s the breakdown according to Kanye’s team:
Stocks: $35 million
Buildings and improvements: $81 million
Cash: $17 million
Land: $21 million
Revenue from collaboration with Adidas: $1.3 billion
Sales of footwear from 2019: $140 million
The Interview with Forbes Last Summer
Kanye West, who is the husband of the world-famous reality TV star Kim Kardashian, was featured on the highly coveted cover of Forbes Magazine last summer. He was interviewed about his outstanding success with the Yeezy sneaker line, and he was quite pleased with everything, or almost everything.
The rapper-turned-footwear businessman, however, showed his displeasure about the fact that he was not yet named a billionaire. In a panel interview, West stated: “I showed them an $890 million receipt, and they still didn’t say ‘Billionaire.’ “
And that was when he made up his mind to prove his net worth. He took it upon himself to make every document available to the renowned publishing firm. This was done so that they could have a first-hand numeric look into Kanye Inc. to prove that he had achieved that extraordinary milestone.
West is known to sell his Yeezy footwear for more than $200 a pair in the U.S. and in other countries as well. The rapper was once associated with Nike for several years but soon broke away back in 2013. He lent his name to Adidas the German sportswear company and they were able to launch their first footwear together in 2015.
It is $3.3 billion, NOT $1.26 Billion, Kanye Says
But the article published by Forbes did not do much to improve the 42-year-old, Chicago-born rapper’s mood. Forbes made the official declaration about West joining the billionaires’ list after taking a look at the rapper’s contract with Adidas, liquid assets, royalties for Yeezy revenue, G.O.O.D. Music label, and even debt.
And the magazine was able to conclude that Kanye’s worth is about $1.3 billion, just $300 million more than Kylie Jenner, his 22-year-old sister-in-law and self-made billionaire.
But Kanye is having none of it as he sincerely believes his net worth is closer to $3.3 billion. He reportedly texted the publication Thursday night: “It’s $3.3 billion since no one at Forbes knows how to count.”
The news about Kanye joining the billionaires’ list came after his sister-in-law Kylie Jenner was named the youngest self-made billionaire by Forbes for the second year in a row. This was even after the 22-year-old lady sold off about 51 percent of her cosmetics brand.
Well, whether he is happy or not, Kanye West is now an official member of the Billionaires Club.
