Kanye West Becomes The Richest Black Person In US History With A Net Worth Of $6.6 Billion!
Kanye West Becomes The Richest Black Person In US History With A Net Worth Of $6.6 Billion! With 22 Grammy wins, 140 million album/single sales and countless world tours, Kanye West is objectively one of the best musicians of all time. With a booming sneaker and apparel business, he is also one of the most successful and wealthy celebrities on the planet and with two new massive business valuations, Kanye West is now officially the richest black person in US history with an estimated net worth of $6.6 billion.
According to a new report from Bloomberg, new valuations prepared by investment bank UBS estimate that Kanye’s sneaker/apparel partnership with Adidas is worth between $3.2 billion and $4.7 billion. Kanye owns 100% of the Yeezy brand, so those valuations go straight to his bottom line. Furthermore, according to UBS, his partnership with The Gap is worth $1 billion.
Kanye owns 100% of Yeezy and in 2020 he extended his partnership with Adidas for another 10 years, but he still maintains 100% creative and equity control. If the brand continues at its current pace, when that 10-year deal is up, Kanye could be left owning of the most valuable apparel brands in the world.
The same UBS document shows that outside of his Adidas and Gap partnerships Kanye has around $1.7 billion in other assets, including around $100 million in real estate, a music catalog valued at $110 million and a significant equity stake in his soon-to-be ex-wife Kim Kardashian’s underwear/shapewear business, Skims.
Adidas Yeezy is a fashion collaboration between German sportswear company Adidas and American designer, rapper, entrepreneur and personality Kanye West. The collaboration has become notable for its high-end limited edition colourways and general releases offered by the Yeezy Boost sneakers line up. The collaboration has also produced shirts, jackets, track pants, socks, women’s shoes and slippers. The first shoe model (“Boost 750”) was released in February 2015.
At $6.6 billion, Kanye West is now the richest Black person in American history. He leapfrogs from fourth place to first place, surpassing Oprah Winfrey’s $3.5 billion net worth, David Steward’s $3.9 billion net worth and Robert F. Smith’s $6.5 billion net worth.
