“Is Kanye West a Billionaire?” The girl with reading glasses asked.
That question would be the start of a very heated argument. Those who believed it was impossible were more in number and so, their voices were the loudest.
I stood watching and listening to their discussion. It was all about Kanye West, from his mental issues, his presidential ambition and of course, the length and breath of his purse.
Many people hardly see pass the crazy outbursts that Kanye West make on a frequent basis.
And for this reason they all fail to appreciate the fact that he is a successful business man, that is if we chose to not look at that very obvious money making career he is into, as a rapper.
And he is married to Kim Kardashian who is herself, a woman of money and great social status.
In 2020 Kanye West wife declared herself a Billionaire. A title that was later withdrawn from her.
According to Forbes Kim Kardashian is actually worth $900 million due to 20% sale of her stake in her KKW cosmestic company to Coty for $200 million on Monday. 1
Leaving her the majority owner with a 72% stake, with her mother Kris Jenner owning 8%. Therefore still unable to claim the millionaire status yet, despite the sale.
But the fact that his wife couldn’t get the title did not stop Kanye West from casting his eyes on that trophy.
He is a rich black man and is among the few black people that make up the rich list in America.
Their conversation inspired this post and thus, our focus is on providing answer to the question “Is Kanye West A Billionaire?“.
So continue reading.
Is Kanye West A Billionaire?
Yes! Kanye West is a Billionaire as verified by Forbes. According to Forbes the footwear mogul has an estimated net worth of $1.3 billion.
This is a man that was owing million in personal debt four to five years ago. Fast forward to today and he is a Billionaire.
Isn’t life great!
In fact it was reported that the debt was incurred after he had invested heavily into his sneaker franchise YEEZY.
In 2015, the entertainer told BET that he was $16 million in debt because of Yeezy. The following year, he would go on to tweet that his debt had ballooned to $53 million.
According to documents reviewed by Bloomberg. The Bank of America Corp. had valued the sneaker side of the business alone at as much as $3 billion in 2019 before, before the Covid-19 pandemic destroyed the fashion industry. 2
Yeezy was on track to generate $1.3 billion of shoe revenue in 2019, a 50% increase from a year earlier, according to Bank of America. West would earn $147 million in royalties from those sales.
According to Alexandra Fletcher, a Bank of America spokeswoman, the value of “future royalties generated in the footwear category is estimated from $1.75 billion to $3 billion,”
But according to Kanye West he is claiming that the above Billionaire numbers was way below his true personal worth.
His personal accountant, David Choi, would go on to provide an unaudited balance sheet that places the Kanye West net worth at $3.15 billion.
The documents also showed more than $200 million of other assets that includes four houses in California — two in Hidden Hills, one in Thousand Oaks and another in Calabasas — as well as properties in Wyoming and his native Chicago.
Personally, it does not matter at this stage if he is truly beyond that net worth or not. What is important, is finally becoming a Billionaire.
An elitist club that only few black people belong to. To be a black Billionaire is an achievement. And Kanye West is the newest member of that club.
Turning round to face me, she pouted “tell me, is Kanye West a Billionaire?”
“Yes!” I replied.
There is one crucial matter to take into account. The rapper is going through a phase at the moment that could alter his financial records in the nearest future, if events turn out to be true.
This because Kim Kardashian divorcing Kanye West is becoming more than just illusions cast by rumors and bad wishers.
Anyways his Billionaire status is all because of his sneakers empire. Yeezy made it all possible for the rapper.
Kanye West owns 100% of Yeezy. The shoes are produced, marketed and distributed by Adidas.