Kanye West becomes billionaire, reports Forbes

Kanye West has added another comma to his net worth.

According to a report by Forbes On Friday (April 24), Kanye officially reached billionaire status, becoming the second rapper to do so after Jay-Z. However although To bes has confirmed Kanye as a billionaire, it is speculated whether Dr. Dre and Diddy have also accomplished this feat.

The post notes that it is Ye’s Yeezy brand, which it owns in its entirety and is under the Adidas umbrella, which helped it break the $ 1 billion mark. Forbes He dissected the Chicago rapper’s success with Yeezy, while sharing how they tabulated Kanye’s net worth. It was previously reported by Forbes that the West brand would close 2019 with an income of $ 1.5 billion. They later calculated that Yeezy’s earnings were closer to $ 1.3 billion.

However, a decent portion of Kanye’s net worth can be attributed to his royalty deal with Adidas. West receives a “royalty from Adidas around 15% of Yeezy’s income. Upon closer inspection, it appears that some expenses are reduced from that portion, bringing his actual cut closer to 11 percent. At that rate , would have received royalties of more than $ 140 million from Yeezy sales last year, “the report says.

Kanye West’s team provided a statement of the rapper’s assets, which are listed as $ 17 million in cash, $ 35 million in shares, $ 81 million in “buildings and improvements,” $ 21 million in land, as well as your GOOD tag and publishing rights, which are said to be worth at least $ 90 million. There was also a sizeable deduction of $ 100 million in debts, which included mortgages and advances.

Forbes He also noted that Kanye’s net worth was given a “50 percent haircut” due to the illiquidity of its assets and the “lack of independent support.”

Congratulations, ‘Ye.