According To Forbes Kanye West Is Now Officially A Billionaire
Source - Kanye West has reached billionaire status, according to a newly published Forbes report.
According to the outlet, the multi-hyphenate recently provided documents that is believed to be an "authentic numeric look into Kanye, Inc." After analyzing his assets, Forbes determined Kanye was, in fact, a billionaire—something he claimed during an appearance at the 2019 Fast Company Innovation Festival.
Well, according to the publication's estimates, it appears Ye is worth just a little over $1 billion; a large chunk of which comes from his highly successful Yeezy brand and its partnership with Adidas.
Our sources told us last year that West’s agreement calls for him to receive a royalty around 15% of Yeezy revenue from Adidas. Upon closer inspection, it appears some expenses are carved out of that slice, bringing his actual cut closer to 11%. At that rate, he would have received royalties of over $140 million from Yeezy sales last year ...
Conservatively, as we typically are with such figures, a 10x multiple, applied to West’s Yeezy cut of $140 million makes his stake worth about $1.4 billion. But that’s a private, highly illiquid $1.4 billion — our rule-of-thumb for private assets like that is to lop off at least 10%. That’s $1.26 billion.
West's team also sent statements that list $17 million in cash, $35 million in stocks, and about $102 million in "buildings and improvements" and land. His music, which includes publishing rights and his G.O.O.D. Music imprint, is said to be worth around $90 million.
"If I could just get one beat off Hova, we could get up off this cheap ass sofa." - Kanye West in 2005. Well, here we are fifteen years later and he is officially up off that cheap ass sofa. The man is a Goddamn billionaire. I'm pretty sure he was complaining about being $53 million in debt like a year ago, but what do I know?
All things considered his story is absolutely incredible. Love him or hate him, you can't argue with the fact that he is one of the most polarizing, influential musicians of all time. Everyone's got an opinion on Kanye West.
I'd also like to take this time to congratulate Kris Jenner. Two billionaires in one family is wildly impressive. What a time to be alive.
Have a great weekend everybody.