In an article published by the publication Thursday, March 18, Forbes states that “the reports that the celebrity is worth nearly $ 7 billion are based on the magical thinking around sales that don’t yet exist. That’s why he’s currently worth less than a third.”
Forbes‘report comes a day later Bloomberg reported that “Ye’s net worth is $ 6.6 billion – making him the richest black man in America – after Forbes revealed last September that it was worth $ 3.3 billion. Based on the publication’s calculations, Kanye is worth less than a third of $ 6.6 billion, noting that the rapper’s income is $ 1.8 billion. Instead of Yeezy, Robert F. Smith of Equity is the richest black person in the United States with an estimated net worth of $ 6 billion. Nigerian Aliko Dangote is the richest black person in the world with a net worth of $ 11.8 billion.
The outlet continues its disagreement over Kanye’s recently announced value, saying the numbers used were overly optimistic. “West’s extremely optimistic approach to his net worth mirrors the approach used by Donald Trump, who insisted that the value of his name be included in any estimate of net worth,” the report said. “Trump, who we put at $ 2.5 billion, says his brand has intrinsic value, regardless of actual earnings. West and his camp are making a similar argument for companies attached to the Yeezy name.”
Forbes listed GOOD Music founder income as Yeezy at $ 1.5 billion, cash and other assets at $ 160 million, the music catalog at $ 90 million, Skims at $ 64 million and Yeezy x Gap at $ 0.
As previously reported, according to Bloomberg, Kanye’s wealth is in part the result of his partnership with Yeezy with Adidas and his deal with Difference Inc., which is supposed to be valued between $ 3.2 billion and $ 4.7 billion, as UBS Group AG said. In documents allegedly provided by ‘Ye’s attorney, the remainder of the rapper’s net worth is believed to come from $ 122 million in cash and stock, $ 110 million from his music catalog and $ 1.7 billion from his music catalog. dollars of other assets.
Kanye also earns income from his investment in his wife Kim kardashianSkims underwear line. The two are currently in the middle of a divorce.
Even if Kanye west isn’t America’s richest black man, he’s hip-hop’s second billionaire after Jay-Z, according to Forbes.
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