Kanye West: Becomes richest African-American with $ 6.6 billion

March 20, 2021

American rapper and fashion mogul Kanye West has an official fortune of $ 6.6 billion, according to Bloomberg, and is the richest African-American in American history.

About the same time last year, Kanye West became a billionaire with the help of the successful clothing and sneaker brand "Yeezy" and his new multi-year contract with GAP.

According to Business of Fashion, the value of the "Yeezy" brand is estimated at 3.2 to 4.7 billion dollars. For the new collection "Yeezy GAP" that will be released later this summer, the new project is expected to be worth more than 970 million dollars.

As Kanye West remains the sole owner of Yeezy, much of his personal fortune is attributed to his recent business decisions and the $ 1.7 billion he receives from additional assets, including his significant investment in the brand. Skims "by his soon-to-be ex-husband, Kim Kardashian.

An unaudited Kanye West financial balance sheet also revealed that the rapper has $ 122 million in cash and shares, while his entire music catalog is worth $ 110.5 million.

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The "Yeezy" brand flourished despite the economic downturn caused by the pandemic.

Kanye West sneaker sales at adidas were up 31% from last year, bringing in $ 1.7 billion in annual revenue. By the end of 2021, the "Yeezys" designer is expected to earn $ 150 million from his collaboration with GAP.

Given that the rapper claimed he owed $ 53 million five years ago, his achievement deserves recognition.

However, it remains a mystery how Kanye West's billion-dollar company was eligible for a $ 2 million to $ 5 million Small Business Protection Program loan to help maintain its workforce during the coronavirus crisis. .