How Africa
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 coronavirus pandemic took hold in the United States. The crisis sank US apparel, accessories, and footwear sales 79% percent lower in April than they were during the same time in 2019, Bloomberg reported. 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, 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
West publicly chastised Forbes’ previous estimations of his net worth during an appearance at The New York Times’ Dealbook conference in November. West said Forbes “chose to call him a centi-millionaire,” despite having “showed them receipts,” Business Insider reported at the time.
