Update: It turns out, Kanye West is not the richest Black man in the U.S. after all. Although a now-redacted Forbes article claimed he pulled to the forefront of other Black billionaires, the outlet now estimates that Kanye’s real-time net worth is actually between $1.3 billion and $1.8 billion as of today (March 18). The previously reported $6.6 billion, estimated by Bloomberg, is the value of his Gap-Yeezy deal and not his personal net worth.
Original Story: Yesterday (March 17), it was reported by Bloomberg that Kanye West’s net worth has increased to $6.6 billion, largely thanks to his Yeezy sneaker and clothing brand. The whopping number is a far cry from the $1.3 billion that Forbes reported as Kanye’s worth a year ago, and puts him at the forefront of Black billionaires in the United States. According to Forbes data, Kanye’s new worth of $6.6 billion puts him ahead of other well-known billionaires, such as Oprah Winfrey, making him the richest Black man in the country.
On Twitter, fans were impressed by the news. Many pointed out that, at one time, Kanye was $53 million in debt and recirculated his infamous “How Sway!?” interview from 2013.
“Kanye West went from a $53 million debt in 2016 to a $6.6 billion net worth in 2021. Mad stuff,” one person tweeted.
“Kanye spent most of 2013 campaigning to find backing for his creative ideas after going 53 million dollars in debt trying to do it alone,” another wrote. “Less than a decade later, he’s now the richest Black man in US History valued at 6.6 billion.”
As reported by REVOLT, Ye’s new net worth was largely accomplished by his Yeezy brand, which Bloomberg estimates to be worth between $3.2 billion and $4.7 billion. Bloomberg also reported that Kanye’s Yeezy sales remained resilient during the pandemic, with sales growing nearly 31 percent in annual revenue last year, netting the company $191 million in royalties.
The rapper’s upcoming collaboration with Gap could also be worth as much as $970 million. Kanye also owns $122 million in stock and cash, $110 million from his music catalog and has $1.7 billion in other assets and investments, including his estranged wife Kim Kardashian’s SKIMS brand.
Besides his fiscal accomplishments, Kanye also won a Grammy Award for his Jesus Is King album over the weekend. See tweets reacting to his new net worth below.