Kanye West is reportedly worth $6.6 billion
Grammy winner Kanye West's assets and his apparel and footwear brand deals have been valued at up to $6.6 billion by Bloomberg. Credit: AP / Michael Wyke
Hip-hop icon and fashion entrepreneur Kanye West and his associated businesses have a total value of up to $6.6 billion, according to an analysis Wednesday by Bloomberg.
The global news agency, citing a private document it reviewed from the Swiss multinational financial-services firm UBS Group AG, said West's Yeezy sneaker and apparel brand, done in partnership with Adidas AG and Gap Inc., is valued at $3.2 billion to $4.7 billion.
Part of that total is from the 43-year-old West's recent collaboration with Gap, which is set to launch its Yeezy Gap line of men, women and children's apparel in July. UBS estimates a valuation of up to $970 million for that joint venture, entered into last year for a 10-year term. The brand will not include footwear, with Adidas exclusive to that market segment through at least 2026.
Gap expects its new brand to top $150 million in sales its first full year, 2022, and to reach $1 billion in revenue within two to eight years. West earns royalties on units sold, with an escalating percentage as sales increase. "Plus, he'll get stock warrants as the line hits sales targets, with the highest set at $700 million, according to a securities filing," Bloomberg reported.
Additionally, said Bloomberg, citing unaudited figures provided by West's attorney, the hip-hop star has $122 million in cash and stock. Another $1.7 billion are in assets and investments, including a sizable portion of Skims, his estranged wife Kim Kardashian's popular line of intimates and shapewear. His musical catalog is worth $110.5 million, according to the valuation and transfer-pricing firm the Valentiam Group.
If the high-end valuation holds true, West is the richest Black man in America, with only investor Robert F. Smith joining that strata of Black businesspeople with a net worth of at least $6 billion, according to Entrepreneur magazine.
The acclaimed musician — who earned his 22nd Grammy Award on Sunday, for the Best Contemporary Christian Music Album "Jesus Is King" — was the third-highest-paid entertainer in Forbes magazine's 2019 "Celebrity 100" list, earning an estimated $150 million pretax from June 1, 2018, to June 1, 2019. He moved up a notch the following year, with an estimated $170 million.
West has not commented publicly on the report, and has not posted on social media since November.
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