Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail 151 Ghana Celebrity Watch After months of requests, the hip-hop superstar shared his financial records with Forbes. “There’s only one number that West cares about. A billion, as in dollars. And he cares a lot,” writes the magazine. More Articles You Would Love What We Wear Collection @ ARISE Fashion Week 2018 Easy Natural Hairstyles For Busy Women In The Workforce Kanye was featured on the cover of Forbes last summer, which detailed his successful Yeezy empire. But the magazine didn’t declare him a billionaire at the time, much to his dismay. He blasted them while speaking on an industry panel in November and in private said Forbes was “purposely snubbing” him. When Forbes released its annual billionaires list earlier this month, West was absent. “You know what you’re doing,” he texted. “You’re toying with me and I’m not finna lye [sic] down and take it anymore in Jesus name.” He also claimed Forbes was “purposely a part of a group of media” that was trying to undervalue his self-made success because of his race. So he decided to make it official. On Thursday, West told his team to provide Forbes with “what we feel is an authentic numeric look into Kanye, Inc.” He claims in his words and through paperwork that he’s worth more than $3 billion. West owns 100% of Yeezy, which is contractually tied to adidas for at least five-plus years. The Yeezy apparel division is not believed to make money. Based on documents, Forbes estimates the final revenue number for the shoes is closer to $1.3 billion. West’s agreement calls for him to receive a royalty around 11%, which would put his Yeezy royalties over $140 million from last year. Forbes notes that West’s “aggressive” $3 billion self-appraisal is based on the idea that the business is infinitely portable, but separating Yeezy from adidas is “almost prohibitively cumbersome, if not contractually impossible.” In conservative terms, a 10x multiple applied to West’s Yeezy cut of $140 million makes his stake worth about $1.4 billion. Due to the fact that the asset is not very liquid, Forbes reduced the value by 10%, arriving at $1.26 billion. Kanye’s statement of assets supplied by his team lists just $17 million in cash and $35 million in stocks. The largest assets are $81 million in “buildings and improvements” and $21 million in land, including the Hidden Hills mansion he shares with his wife Kim Kardashian and four children, and a pair of $14 million Wyoming ranches. Documents reveal West’s G.O.O.D. Music label, his own recorded music, and publishing rights to be worth at least $90 million. In the end, Forbes estimates Kanye’s current net worth at $1.3 billion, $300 million more than his sister-in-law Kylie Jenner and JAY-Z, who was declared hip-hop’s first billionaire in 2019. Still, Kanye claims he’s worth triple that amount. “It’s not a billion,” he texted Forbes last night. “It’s $3.3 billion since no one at Forbes knows how to count.” SOURCE: Rap-Up Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail Nana Tamakloe Founder of FashionGHANA.com and Accra Fashion Week. I'm grateful you visited, I hope you share, subscribe and share your comments or opinions below. More For You VIDEO: Jamaican Queen Who Washed Wode Maya’s Feet With Her Locks Gets Surprised... #fGSTYLE: Unleashing the Power of African Prints for Girls’ Night Out! Ghanaian Highlife Star Akwaboah’s Is Off The Market, See His Engagement Photos Inside! Looking For Trendy Kufis and Durags; Search No Further Senegal’s Amaja Is Here #BIKINIBAE: Motherhood Never Looked So Haute; Check Out These Jaw-Dropping Swimwear Looks By... #OOTD: Miss Universe Cameroon’23 Princesse Issie Takes Moan Yesus Amazing ‘ASSIMBA’ Dress For... The 2024 Trending Take Over, The Rich History, The Prideful Culture Of Fulani... Mozambican Designer Mabenna Unveils Her Latest Masterpiece Look Book For The “Melanin” Collection #fGBrideAndGroom: Ghanaian Doctors Dr. Adwoa and Dr. Kobbie Tie The Knot In Stunning... AI Artist Dana K. Booker Explores The Gorgeous African Beauties Of Columbia In... Leave a Comment Cancel ReplyYou must be logged in to post a comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.