Connect with us

Lifestyle

Kanye West becomes richest Black man in U.S

Tell a friend:

Music producer, rapper, and fashion mogul Kanye West is the richest African American in the United States. Bloomberg reports that West is officially worth $6.6 billion, making him the richest Black man in America’s history.

Around the same time last year, West became a certified billionaire with the help of his successful apparel and sneaker brand, Yeezy and a new multi-year contract with Gap (NYSE: GPS +1.64%).

According to Business of Fashion, the Yeezy brand is valued at $3.2 to $4.7 billion. As for the new Yeezy Gap line which is set to be released later this summer, the new venture is expected to be worth more than $970 million.

Since West remains the sole owner of the Yeezy company, much of his personal net worth is attributed to his recent business decisions and the $1.7 billion that he pockets from additional assets, including his significant investment into his soon-to-be ex-wife’s Skims label. 

READ:  Shatta Wale in High Spirit at Ankaful Prison

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

The Yeezy brand has seen a large boom despite the economic downturn caused by the pandemic. West’s sneaker sales at Adidas (XETRA:ADS.DE -0.87%) have seen an uptick of 31 per cent from last year, bringing in $1.7 billion in annual revenue. By the end of 2021, the Yeezy designer is expected to rake in $150 million from its Gap partnership.

Considering the rapper claimed to have been $53 million in debt less than half a decade ago, his feat is worth the recognition. However, it still remains a mystery as to how West’s billion-dollar company was eligible for a loan of $2 to $5 million under the Small Business Administration’s Paycheck Protection program

To submit your views and opinions. Go to our Facebook Page (Find the article and post your comment) We do care so much about your Views & Opinions

Stories Today

Celebrities4 days ago

Shatta Wale in High Spirit at Ankaful Prison

Tell a friend:Management of Dancehall musician, Charles Nii Armah Mensah says the artiste is in high spirit at the Ankaful...

News2 months ago

Kumawood actor Agya Manu buried in ‘Camera’ coffin (Photos)

Tell a friend:The funeral rite for the late Kumawood actor, Samuel Manu, otherwise known as Agya Manu, was performed yesterday....

News3 months ago

BREAKING: Nollywood Actress Rachel Oniga Passes On At Age 64

Tell a friend:Rachel Oniga Dead At 64, is not an headline you’d want to wake up on a Saturday Morning...

Uncategorized3 months ago

Court cancels 2020 Assin North parliamentary election, orders for fresh polls

Tell a friend:The Cape Coast High Court in the Central Region has declared the 2020 parliamentary election held in the...

Business3 months ago

Official: MTN Releases new Network codes

Tell a friend:MTN Ghana has added new network codes to the existing ones.This was after it received new blocks of...

News3 months ago

Akufo-Addo appoints Kennedy Agyapong as Board Chairman of Ghana Gas

Tell a friend:Assin Central lawmaker Kennedy Agyapong has been appointed Board Chair of the Ghana National Gas Company Limited. He was...

Sports3 months ago

FIFA President Congratulates Hearts of Oak for winning the Ghanaian league

Tell a friend:FIFA President Gianni Infantino has congratulated Accra Hearts of Oak for emerging as champions of the 2020-21 Ghana...

News3 months ago

Tuesday 20th July is a Public Holiday in Ghana

Tell a friend:Tuesday, July 20, 2021, which marks Eid-ul-Adha has been designated a statutory public holiday in Ghana. A statement...

Watch Live3 months ago

Live Stream: Mcbrown hosts Mzvee, Wendy Shay and Eshun on United Showbiz (Watch)

Tell a friend:READ:  Shatta Wale in High Spirit at Ankaful Prison

News3 months ago

MoFA Confirms Outbreak of Bird Flu in Parts of Ghana

Tell a friend:The Ministry of Food and Agriculture has confirmed the outbreak of the highly pathogenic avian influenza disease. The...

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

TRENDING