Kanye West’s net worth has skyrocket according to a new report — and no, this report isn’t from Forbes.
According to Bloomberg, Kanye’s net worth is now a whopping $6.6 billion. The valuation comes from his Yeezy brand which is now in partnership with Adidas AG and Gap Inc. The business is valued between $3.2 and $4.7 billion by UBS Group AG.
The value of the new Gap collaboration with Yeezy, which is scheduled to hit stores this summer, “could be worth as much as $970 million of that total,” Bloomberg reported, citing a bank estimate.
via People:
The “Famous” rapper also has $122 million in cash and stock and $110 million from his music catalog, alongside $1.7 billion in other assets, including estranged wife Kim Kardashian’s SKIMS business. (Kardashian filed for divorce in mid-February. The couple share four children: daughters North, 7½, and Chicago, 3, and sons Saint, 5, and Psalm, who will turn 2 in May.)
West currently has full ownership and creative control of the Yeezy brand by himself and previously signed a 10-year agreement to design and sell clothes under the Yeezy Gap label last year, Bloomberg adds.
There, West will craft items for men, women and kids. The arrangement excludes footwear, however, as Yeezy’s partnership with Adidas lasts until 2026.
Citing the document obtained by their outlet, Bloomberg noted that the new Gap line is expected “to break $150 million in sales in its first full year in 2022.”
Back in April 2020, West claimed at the time that his net worth was more than $3 billion — which would make him wealthier than other famous billionaires such as Oprah Winfrey — after Forbes reported that his net worth was much lower than he claimed.
While West achieved the 10-digit milestone in his wealth, Forbes reported that the rapper is worth $1.3 billion, according to a previous report.
Despite the business magazine’s analysis, West maintained that his net worth is higher, and reportedly texted Forbes, “It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count.”
Remember a few years ago when Kanye gave Kim Kardashian partial ownership of Yeezy? We wonder how this valuation has affected her net worth — do you think she’s keeping her ownership in the divorce?
