Kanye West is now worth a reported $6.6 Billion, making him the richest black man in US history. PEOPLE reports that West’s sneaker and apparel business Yeezy is worth between $3.2 billion and $4.7 billion.
Bloomberg also adds that West’s upcoming collaboration with Gap, which is scheduled to hit stores this summer could be worth as much as $970 million. The 43-year old, who still maintains full ownership and creative control of the yeezy brand agreed a 10-year partnership with Gap last year to design and sell clothes, excluding sneakers, for men, women and children.
Documents also reveal that Ye’s new Gap line is expected “to break $150 million in sales in its first full year in 2022.” Gap envisions it becoming a billion-dollar revenue brand within eight years, with an upside case of sales exceeding $1 billion as soon as 2023.
Sales for Yeezy’s Adidas sneakers remained resilient through the pandemic, growing 31% to nearly $1.7 billion in annual revenue last year and netting Yeezy $191 million in royalties, according to the document.
The “College Dropout” also has $122 million in cash and stock and $110 million from his music catalog, alongside $1.7 billion in other assets, including estranged wife Kim Kardashian’s SKIMS underwear brand.
Back in April 2020, Forbes pegged Kanye’s net worth at around $1.3 billion, but the rapper refuted the reports claiming he was worth higher, “It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count.”