AFRICAN MIRROR REPORTER
RAPPER Kanye West has officially joined the billionaire boys club.
According to Forbes magazine, West is now worth $6.6-billion, largely due to profits from his fashion brand Yeezy, and his multiple collaborations with Adidas and Gap. His new net worth makes him the richest black person in America and in the country’s history.
The rapper’s sneaker and apparel business Yeezy recently entered a combined partnership with Adidas AG and Gap Inc., increasing the value of the brand between $3.2-billion and $4.7-billion by UBS Group AG.
The 43 year-old’s new net worth is significantly higher than what was reported by Forbes in April 2020.
Financial magazine Bloomberg had also reported that the new Gap collaboration with Yeeezy that is scheduled to be released later this year, “could be valued as much as $970 million” of West’s total worth.
Kanye West outside Adidas offices in 2019 wearing Yeezy. Picture: Twitter
According to Bloomberg West’s Yeezy brand has signed a 10-year agreement to design and sell clothes with Gap. The new label will be known as Yeezy Gap.
With Yeezy Gap, West intends to release items for men, women and children but not footwear. Footwear through Yeezy will only be sold through his partnership with Adidas, which runs until 2026.
Kanye West’s total net worth also includes his $122 million in cash and stock, $110 million from his music catalogue, and $1.7 billion in other assets, including his estranged wife Kim Kardashian’s SKIMS business.
Kardashian filed for divorce from the rapper in mid-February. The couple share four children: daughters North (7), Chicago (3), Saint (5), and Psalm (2).