Mixed Reactions Trail Report Naming Kanye West Richest Black Man In U. S. History

Report Based On Magical Thinking Around Sales That Don’t Exist Yet, Forbes

AMERICAN rapper, record producer, fashion designer and politician, Kanye Omari West has become the richest black man in U. S history, with his net worth reported to have reached $ 6.6billion.

The new total reported by Bloomberg, gives the 2020 U. S presidential candidate a commanding lead over the likes of investor and businessman Robert F Smith and basketball legend Michael Jordan.

After claiming he was $ 53million in debt just three years ago, the rapper and fashion tycoon became a certified billionaire last year with the help of his successful apparel and sneaker brand, Yeezy, and a new multi- year contract with clothing retailer, Gap.

A Twitter user by name Boardroom @ boardroom in a tweet said: “In his teens, he worked at a local Gap. In his 20s, he rapped about Gap. In his 30s, he wanted to be “the Steve Jobs of Gap” and its creative director. In his 40s, Kanye West’s Gap deal is valued at $ 970M and his $ 6.6B net worth makes him the richest Black man in U. S. history.”

According to Bloomberg, West’s Yeezy brand – and deals with Gap and sportswear giant Adidas – is valued at $ 3.2billion to $ 4.7billion. The new Yeezy Gap line, set to release later this summer, is expected to be worth more than $ 970million.

Despite the COVID pandemic, sales for Yeezy’s Adidas trainers continued to grow, rising by 31 percent to nearly $ 1.7billion in annual revenue last year, making the brand $ 191million in royalties, according to a private document reviewed by Bloomberg.

An unaudited balance sheet of West’s finances has also revealed that the rapper has $ 122million in cash and stock, while his entire music catalogue is worth $ 110.5million.