American rapper, Kanye West has officially become the richest black man in the history of United States with a net-worth of $6.6 billion.
According to Bloomberg, Kanye West‘s Yeezy Brand, which is in partnership with Adidas AG and Gap Inc., is now valued between $3.2 billion and $4.7 billion by UBS Group AG.
Last year, the 43-year-old rapper announced a 10-year partnership with Gap, which “could be worth as much as $970 million of that total,” Bloomberg reports.
The Yeezy Gap collection, which is scheduled to launch by July, is expected “to break $150 million in sales in its first full year in 2022.”
Gap expects it to become a billion-dollar revenue brand within eight years, with sales exceeding $1 billion as soon as 2023.
West retains full ownership and creative control of the Yeezy brand. His shoe deal with adidas remains his largest asset and continues to grow at a “staggering” rate, according to UBS’ analysis.
To put his wealth into perspective, West has a music catalog worth $110.5 million, $122 million in cash and stocks and over $1.7 billion in other assets, including a large investment in SKIMS, Kim Kardashian’s underwear label.
And while the two celebrity couple are supposedly wading through divorce dealings, which Kim Kardashian reportedly filed for in mid-February, it’s unclear if Kanye West will still be involved in her business once their alleged separation is finalized.
Kany West has come a long way considering the rapper claimed to have been $53 million in debt in 2016, his feat is worth the recognition.
In February of that year, West took to Twitter to ask Facebook CEO Mark Zuckerberg to invest $1 billion in his work. Zuckerberg could’ve received a handsome return on his investment if he decided to go into business with Kanye.t
In April 2020, Forbes confirmed Kanye West had become hip-hop’s second billionaire — the first being Jay-Z. Initially, the publication claimed Kanye was worth $1.5 billion, but the Chicago rapper came out claiming he was worth nearly three times as much.
KanyiDaily recalls that a few weeks ago, JAY-Z sold a significant TIDAL stake to Square Inc. run by Twitter CEO Jack Dorsey in a $297m deal.
You may be interested
Alleged link to terrorists: We stand behind Pantami — PresidencyWebby - April 23, 2021
The Presidency said yesterday that it stand behind the Minister of Communication and Digital Economy, Isa Pantami, over his past…
EFCC Arrests Popular Instagram Comedian, Pankeeroy For Alleged Internet Fraud In LagosWebby - April 23, 2021
The Economic and Financial Crimes Commission (EFCC) has arrested a popular Instagram comedian, Nwagbo Oliver Chidera, better known as Pankeeroy,…
Lagos govt opens up on COVID-19 vaccines side effectWebby - April 23, 2021
• NCDC takes responsibility for portal’s malfunctioning• 26,000 persons vaccinated in Ekiti State, says govt The Lagos State Government has…