As against several reports that circulate the media about 48 hours ago that named Kanye West as the richest black American worth $6.6billion Forbes says it is untrue.
Bloomberg had reported that Kanye’s Sneaker brand, Yeezy and the newly established Yeezy x Gap that is yet to sell any item of clothing is valued as much as $4.7 billion. Meanwhile, the publication contains no details of how Bloomberg arrived at $1.7 billion addition in asset says, Forbes.
Meanwhile, media all over the world plugged to Bloomberg had picked this news circulating it as fact that Kanye has become the richest black American.
According to Forbes, it is an assumption. Kanye is worth less than one-quarter of the media acclaimed $6.6billion. “Reports that the celebrity is worth nearly $7 billion are based on the magical thinking around sales that don’t exist yet. This is why he’s currently worth less than one-third of that.”
Forbes clarifying says “It’s not true, based on our calculations. Forbes estimates he’s worth less than a third of that, or $1.8 billion. That’s a big jump from last May when Forbes first pegged his net worth to be $1.3 billion, but nowhere near as much as the purported $6.6 billion.”
Forbes added, “Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., worth an estimated $6 billion, while Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world.”
Forbes admits Kanye businesses especially Yeezy is doing “crazy well” says the company grew 30% in revenue in 2020. But state Kanye won’t still be worth $6.6 billion, although his financial status is growing exponentially.
Speaking of Forbes ignoring Kanye as the Yeezy boss claimed, Forbes debunked the claim said it is “treating West the same way we do everyone else with similar royalty-based businesses.”
KANYE WEST NETWORTH ESTIMATES ACCORDING TO FORBES
YEEZY: $1.5 billion
CASH AND OTHER ASSETS: $160 million
MUSIC CATALOGUE: $90 million
YEEZY x GAP: $0
Although the Yeezy x Gap deal is worth $1.5 billion the brand is yet to sell any product because it has been launched yet. Meanwhile, Forbes reports the partner company Gap’s stock is soaring since the deal announced in June 2020 giving a sign of a great future for Yeezy x Gap.