Kanye West is not worth $6 billion, only a third of that: Report

Kanye West is not worth $6 billion, only a third of that: Report

Kanye West is making headlines after reports that he is the richest black man and he is worth $6.6 billion. But one outlet refuted the report saying he is only worth a third of the purported amount.

Kanye West is one of the richest artists, but his reported net worth was not accurate. West doesn’t worth near $6.6 billion, according to Forbes.

Kanye West only worth a third of $6 billion

Forbes disputed its own report about Kylie Jenner being the youngest billionaire. It questioned the Keeping Up With the Kardashian star’s net worth, and it’s doing the same with West, Gossip Cop reported.

On Wednesday, multiple outlets reported that the Gold Digger rapper is the richest Black person in America, worth $6.6 billion. The news came after Bloomberg reported that his sneaker brand, Yeezy and Yeezy Gap, have a combined value of $4.7 billion. The publication also mentioned an additional asset worth $1.7 billion in assets.

“It’s not true, based on our calculations,” Forbes reported. “Forbes estimates he’s worth less than a third of that, or $1.8 billion.”

Kanye’s wealth examined

According to Forbes, last May, Kanye West’s net worth was worth $1.3 billion. It has increased and is now $1.8 billion, but nowhere near the purported $6.6 billion.

West has been attempting to inflate his net worth, and in the past, he said Forbes was “purposely snubbing me.” Forbes based its estimate on West’s wealth on the old-fashioned idea of current revenues and not theoretical future expectations. For instance, Yeezy Gap has yet to sell and has not contributed any revenue yet.

However, Forbes acknowledged the popularity of Yeezy sneakers, which have been selling like crazy. In fact, the company’s revenue grew 30% compared to last year. When it released its limited 450 in Cloud White, it sold out in under a minute.

The outlet noted that Vista Equity’s Robert F. Smith remains the richest black man in the United States. His estimated net worth is $6 billion. Meanwhile, Aliko Dangote of Nigeria is the richest black person in the world, with a net worth of $11.8 billion.

Kanye and Kim Kardashian divorce

Kim Kardashian and Kanye West have decided to part ways earlier this year after six years of marriage. There are rumors that he is eyeing to take revenge on his wife by selling the jewelry he gifted to Kardashian worth $50 million.

However, the report was not true. Kim Kardashian and Kanye West have solid prenuptial agreements, and neither of them is contesting it. It is unlikely that they would fight over her jewelry.

 

Images used courtesy of David Shankbone, CC BY 3.0 <https://creativecommons.org/licenses/by/3.0> via Wikimedia Commons 

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