Update: Forbes magazine has entered the chat to dispute Yeezy’s net worth with a new evaulation. Read about the latest update here.
[This post has been updated. The following was originally published on March 17, 2021.]
Kanye West became a billionaire in April 2020 when Forbes reported the rap superstar crossed the rare threshold. Thanks primarily to his adidas Yeezy sneaker line, Ye had an estimated net worth of $1.3 billion. Now, almost a year later, that net worth has allegedly skyrocketed thanks to Kanye’s deal with Gap.
On Wednesday (March 17), Bloomberg claimed Kanye’s net worth is now a whopping $6.6 billion. According to the report, Ye’s sneaker and apparel business with adidas AG and Gap Inc. is valued at $3.2 billion to $4.7 billion by UBS Group AB. The bank estimated the new Gap collaboration, which fans can expect to hit stores this summer, could be worth $970 million of that total.
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To put his wealth into perspective, Kanye reportedly has a music catalog worth $110.5 million, $122 million in cash and stocks and over $1.7 billion in other assets, including a large investment in SKIMS, Kim Kardashian’s clothing line.
Ye has come a long way since claiming he was $53 million in debt in 2016. In February of that year, he took to Twitter to ask Facebook CEO Mark Zuckerberg to invest $1 billion in his work. Zuckerberg could’ve received a handsome return on his investment if he decided to go into business with Kanye.
Kanye and JAY-Z have been proving Hip Hop is one of the world’s most lucrative businesses. A few weeks ago, Hov sold half of his Ace of Spades champagne brand to luxury giant LVMH and later topped that by selling a significant TIDAL stake to Square Inc. run by Twitter CEO Jack Dorsey.