Kanye West has now been named a Billionaire by Forbes, making him the second American rapper to reach that status after Jay-Z.
According to Forbes, Kanye West’s brand, Yeezy, which he owns in its’ entirety and falls under the Adidas umbrella, helped push him over the $1 billion mark.
The publication said they dissected the Chicago rapper’s success with Yeezy, while also sharing how they tabulated Kanye’s net worth.
Nonetheless, a decent portion of Kanye’s net worth can be attributed to his royalty agreement with Adidas.
West receives a “royalty around 15% of Yeezy revenue from Adidas. Meanwhile, Kanye West’s team provided a statement of the rapper’s assets, which were listed as $17 million in cash, $35 million in stocks, $81 million in “buildings and improvements,” $21 million in land, as well as his G.O.O.D. label and publishing rights, which is said to be worth at least $90 million. There were also a sizable deduction for $100 million worth of debts, which included mortgages and advances.
Forbes puts Kanye’s estimated net worth at $1.3 billion.
But Kanye reportedly disagreed with Forbes. “It’s not a billion,” he allegedly texted the reporters, “It’s $3.3 billion since no one at Forbes knows how to count.”
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