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Kanye West Is Officially A Billionaire

Kanye West

Kanye West Is Officially A Billionaire

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Kanye West is officially a billionaire.

According to Business Magazine Forbes, Kanye provided them with what they describe as “an authentic numeric look into Kanye, Inc.” After analyzing his assets, the outlet estimates that West’s stake in Yeezy makes him a billionaire.

Kanye West owns 100% of the sneaker brand, which reportedly generated close to 1.3 billion last year. Forbes reports west receives 11% of Yeezy revenue. At that rate , he would have received royalties of over $140 million.

Per Forbes:

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.

The statement of assets supplied by West’s team lists just $17 million in cash and $35 million in stocks. His biggest assets according to his internal team, are $81 million in “buildings and improvements” and $21 million in land. Ye’s G.O.O.D Music label, his own recorded music and publishing rights is reportedly worth $90 million.

Kanye believes he’s worth at least $3 billion, however Forbes gave his assets a 50% haircut because “customized real estate often sells for less than the money put in.”

Forbes calculate Ye’s current networth to be $1.3 billion but the ‘College Dropout’ rapper maintains he’s worth at least 3 billion. “It’s not a billion,” he allegedly texted the reporters Thursday night. “It’s $3.3 billion since no one at Forbes knows how to count.”

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