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Kanye West is a billionaire and wants the world to know it.
After months of requests, the hip-hop superstar shared his financial records with Forbes. “There is only one number that matters to West. Billion, like dollars. And he cares a lot,” writes the magazine.
Kanye appeared on the cover of Forbes last summer, he detailed his successful Yeezy empire. But the magazine didn’t declare him a billionaire at the time, to his dismay. He criticized them while speaking on an industry panel in November and privately said Forbes was “deliberately snubbing him.”
When Forbes released its annual list of billionaires earlier this month, West was absent. “You know what you are doing,” he sent a text message. “You are playing with me and I will not finish the bleach [sic] down and take it more in the name of Jesus. “He also claimed Forbes he was “purposely part of a media group” that was trying to underestimate his self-made success because of his race.
So he decided to make it official. On Thursday, West told his team to provide Forbes with “what we feel is an authentic numerical look at Kanye, Inc.”
He claims in his words and in the paperwork that he is worth more than $ 3 billion. West owns 100% of Yeezy, which is contractually linked to adidas for at least more than five years. Yeezy’s clothing division is not believed to make money. Based on documents, Forbes He estimates the final number of revenue for shoes is closer to $ 1.3 billion.
West’s deal requires that he receive a royalty of around 11%, which would put his Yeezy royalties in excess of $ 140 million last year. Forbes notes that West’s $ 3 billion “aggressive” self-assessment is based on the idea that the business is infinitely portable, but separating Yeezy from adidas is “almost prohibitively cumbersome, if not contractually impossible.”
In conservative terms, a 10x multiple applied to West’s Yeezy $ 140 million cut makes his stake worth around $ 1.4 billion. Due to the fact that the asset is not very liquid, Forbes reduced the value by 10%, reaching $ 1.26 billion.
Kanye’s asset statement supplied by his team lists just $ 17 million in cash and $ 35 million in stock. The largest assets are $ 81 million in “buildings and improvements” and $ 21 million in land, including the Hidden Hills mansion he shares with his wife Kim Kardashian and their four children, and a pair of $ 14 million Wyoming ranches. The documents reveal that G.O.O.D. West’s music label, his own recorded music and publishing rights are worth at least $ 90 million.
At the end, Forbes He estimates Kanye’s current net worth at $ 1.3 billion, $ 300 million more than his sister-in-law Kylie Jenner and JAY-Z, who was declared the first hip-hop billionaire in 2019.
Still, Kanye claims it’s worth three times that amount. “They are not a billion,” he wrote. Forbes last night. “They are $ 3.3 billion since nobody in Forbes he knows how to count. “
