{"id":204880,"date":"2021-03-18T02:00:27","date_gmt":"2021-03-17T23:00:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/kanye-west-could-now-be-worth-more-than-6-billion\/"},"modified":"2021-03-18T02:00:27","modified_gmt":"2021-03-17T23:00:27","slug":"kanye-west-could-now-be-worth-more-than-6-billion","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/kanye-west-could-now-be-worth-more-than-6-billion\/","title":{"rendered":"#Kanye West could now be worth more than $6 billion"},"content":{"rendered":"

“#Kanye West could now be worth more than $6 billion<\/strong>”
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Kanye West\u2019s family life may be a disaster<\/a>, but his finances are looking up.<\/p>\n

The \u201cRunaway\u201d rapp<\/a>er \u2014 whose wife of seven years Kim Kardashian filed for divorce last month<\/a> after months of headline-grabbing turbulence \u2014 has seen his Yeezy shoe and streetwear empire surge in value, making him a multibillionaire, according to financial documents obtained by The Post.<\/p>\n

Yeezy\u2019s Adidas sneaker venture \u2014 whose sales have skyrocketed<\/a> during the pandemic amid torrid demand for its dressy-yet-comfy footwear \u2014 is now worth as much as $3.7 billion based on the valuations of similar streetwear brands including Supreme, according to an analysis by the investment bank UBS obtained by The Post.<\/p>\n

That\u2019s not including a valuation of nearly $1 billion for Yeezy\u2019s upcoming Gap apparel line, which is slated to launch this summer<\/a>. Both ventures are wholly owned by West, according to people close to the company.<\/p>\n

Combine those ventures eye-popping figures with West\u2019s share of his and Kim Kardashian\u2019s Skims underwear line<\/a> \u2014 estimated at $1.7 billion \u2014 and West\u2019s net worth appears to have vaulted past the $6 billion mark, sources close to the companies say. The rapper also has a music catalog worth an estimated $110 million and cash and stock worth $122 million, according to Bloomberg, which first broke the news<\/a> about West\u2019s assets on Wednesday.<\/p>\n

A net worth as high as $6.6 billion would land West in rarified company \u2014 with a fortune that\u2019s nipping at the heels of Robert F. Smith, the private-equity baron who is the richest African American with a fortune of more than $7 billion, according to the Bloomberg Billionaire\u2019s Index. <\/p>\n

In 2019, Forbes estimated West\u2019s net worth at just $240 million, making him the fourth richest hip hop artist behind Diddy, at $740 million, and Dr. Dre., at $800. Rapper Jay-Z was ranked No. 1 at $1 billion. Today, Forbes pegs Jay-Z\u2019s net worth at $1.4 billion. <\/p>\n

The eye-popping figures are the result of Yeezy\u2019s torrid growth. Sales for Yeezy\u2019s Adidas sneakers grew 31 percent to nearly $1.7 billion in annual revenue last year, netting Yeezy $191 million in royalties, the document said, adding that by the end of Adidas\u2019 Yeezy deal, revenue is expected to reach $3.1 billion.<\/p>\n

\u201cWith an obsessive attention to product detail paired with a disciplined approach to volume management, there exists a significant runway for continued growth within this partnership and the footwear segment,\u201d the UBS report said.<\/p>\n

Indeed, according to the document dated Feb. 18, Gap is looking to emulate the success of Yeezy\u2019s deal with Adidas. <\/p>\n

West, who retains sole ownership and creative control of Yeezy, signed a 10-year agreement last year to design and sell clothes for men, women and kids under the Yeezy Gap label. The arrangement, however, excludes footwear, as Yeezy\u2019s partnership with Adidas remains in place until 2026. <\/p>\n

The new figures signal\u00a0that Gap anticipates its Yeezy line, which it plans to launch by July, to hit $172 million in sales in its first full year in 2022, the document said. Gap envisions it becoming a billion-dollar revenue brand within eight years, with an\u00a0upside case\u00a0of sales exceeding $1 billion as soon as 2023, according to UBS.<\/p>\n

Reps for Adidas, Gap, Yeezy and UBS did not comment.<\/p>\n

Despite his high-profile divorce with Kim Kardashian, the rapper is \u201cvery, very focused\u201d on the Gap apparel collection, Gap CEO Sonia Syngal said earlier this moth. <\/p>\n

The \u201cStronger\u201d artist sent Gap\u2019s stock price soaring in June when he announced the deal with the clothing brand. But the 43-year-old entertainer cast shadows on the tie-up when he launched his somewhat bizarre US presidential campaign the following month, also\u00a0saying at the time he would \u201cwalk away\u201d\u00a0unless he got a seat on Gap\u2019s board.<\/p>\n

West followed that up with a September tweet noting that he\u2019s also not on the board of Adidas, which makes his Yeezy sneakers.\u00a0\u201cBLACK BOARD SEATS MATTER,\u201d\u00a0West wrote.<\/p>\n

The rapper-turned-designer revealed in 2019 that he has bipolar disorder<\/a>, which reportedly flared up <\/a>last July around the time he demanded a seat on Gap\u2019s board.\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Kanye West could now be worth more than $6 billion” Kanye West\u2019s family life may be a disaster, but his finances are looking up. The \u201cRunaway\u201d rapper \u2014 whose wife of seven years Kim Kardashian filed for divorce last month after months of headline-grabbing turbulence \u2014 has seen his Yeezy shoe and streetwear empire surge…<\/p>\n","protected":false},"author":1,"featured_media":204881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/03\/yeezys.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[98092,73653,70971,60591,70618,82569,75026,77278],"class_list":["post-204880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-17-21","tag-adidas","tag-billionaires","tag-gap","tag-kanye-west","tag-supreme","tag-valuations","tag-yeezy"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/204880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=204880"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/204880\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/204881"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=204880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=204880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=204880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}