Kanye West Reaches $6.6 Billion in Net Worth, Thanks Largely to Yeezy
Thanks largely to his Yeezy empire, Kanye West is now reportedly worth an estimated $6.6 billion, making him the richest black person in the United States. According to both Bloomberg and People, Kanye’s Yeezy label is valued between $3.2 billion and $4.7 billion, following the review of private documents.
The news arrives close to a year after Kanye valued himself at $3.3 billion.
Set to drop later this year, Kanye’s upcoming collaboration with Gap is also reported to be worth as much as $970 million. Meanwhile, it’s likely that the other share of wealth can be attributed to his extensive music catalogue, cash, stocks, and business investments, such as his stake in estranged wife Kim Kardashian’s SKIMS underwear brand.
Despite the pandemic, sales for Yeezy have continued to grow, increasing nearly 31 per cent to approximately $1.7 billion in annual revenue last year. Yeezy’s footwear partnership with adidas currently runs through 2026, with plans beyond that currently up in the air.
Additionally, documents also reveal that Gap expects Kanye’s collaborative collection to break $150 million in sales in its first full year in 2022, with aspirations to become a billion-dollar revenue brand within eight years, with potential to exceed $1 billion as soon as 2023.,
By reaching the $6.6 billion net worth mark, Kanye reportedly jumps past Oprah Winfrey ($3.5 billion), David Steward ($3.9 billion) and Robert F. Smith ($6.5 billion) to become the richest black person in US history. Michael Jordan is now fifth, with a net worth of $2.2 billion.
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