Kanye West is officially a billionaire – Forbes

Hip hop superstar Kanye West is officially a billionaire after his sneaker line was described as “one of the great retail stories of the century”, according to Forbes magazine.

The rapper and fashion designer, who has long coveted the status, is said to have a net worth valued at $1.3bn (£1.05bn).

However, the article notes that West was left unhappy with their research and findings – stating that he believes his net worth to be around $3.3 billion, rather than the $1.26 billion they have estimated.

‘It’s not a billion,’ West allegedly texted the publication Thursday night. ‘It’s $3.3 billion since no one at Forbes knows how to count.’

Forbes has valued his Yeezy sneaker line alone at $1.26bn (£1.02bn).

West follows sister-in-law Kylie Jenner, 22, who was named by Forbes as the youngest ‘self-made’ billionaire for the second year in a row.

The rapper was said to be unhappy when his name was left out of the rich list earlier this month.

According to the report, West’s team provided statements that showed the rapper has $17 million in cash, $35 million in stocks, $81 million in ‘buildings and improvements’ and $21 million in land.

Adidas Yeezy, the fashion collaboration between the rapper and the German sportswear brand, has a revenue worth of around $1.3 billion – making West around $140 million from sales just last year.

The article suggests West has been eager to prove his financial status for some time, noting that he had previously claimed to be a billionaire during an appearance at the 2019 Fast Company Innovation Festival.

‘When I did Forbes, I showed them a $890 million receipt and they still didn’t say ‘billionaire,” dad-of-four Kanye told the audience.

Forbes’ Zack O’Malley Greenburg reveals in the article how West himself admitted that he ‘was not a numbers guy’ but texted him to say the August issue of Forbes last year was a ‘disrespectful article’.

It was ‘purposely snubbing me’ after failing to name him as a billionaire, West is said to have written.

And so, after being provided with the appropriate documents from West the publication has now valued his assets at just over a billion, claiming that he is worth around $1.26 billion.

 

 

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