Whatever you think of Kanye West, you have to admit that the rapper’s business sense is impressive. Rumor has it that Kanye West is almost becoming a billionaire. He was never shy when talking about money, and once he even claimed he had earned more money than Michael Jordan when it comes to selling shoes. (Spoiler alert: that is not entirely true.)
What does Kanye West’s net light look like? Is he about to become a member of the billionaire club? This is what you need to know.
Kanye West’s net worth is impressive, but he’s not a billionaire
Celebrity Net Worth puts the net assets of Kanye West at $ 250 million. That’s a lot of money – thanks to his successful music career, his chart-topping albums, his Yeezy fashion partnership with Adidas, another collaboration with Louis Vuitton and his chain of Fatburger restaurants – but it’s not really close to the alleged wealthy news of West $ 1 billion.
“Kanye is very successful in both music and fashion with his Yeezy clothing line and both efforts earn him a lot of money every year. But billionaire? No. No. No. No,” the publication reports. The rumor originated from an erroneous remark by West’s wife, Kim Kardashian, who spoke to Jimmy Kimmel.
Jimmy asked Kim about the (completely made up) Forbes article that (wrongly) claimed that younger sister Kylie is a billionaire (she is not). Jimmy sheepishly asked Kim if she was a billionaire, to which Kim replied: “I would say my husband is, so that makes me one, right? By proximity.” The correct expression she was looking for was “by proxy” … but I stray. So, based on that one disposable line on Kimmel, a thousand websites put out a thousand articles with headlines such as “Kanye West Is A Billionaire”, no evidence at all.
Kanye doesn’t own his Yeezy brand
Celebrity Net Worth also points out that although the Yeezy clothing brand from Kanye West is valuable, West does not get all that value for it. “If his deal with Adidas is comparable to any other celebrity clothing partnership with a major brand that has ever been implemented, he does not actually own the Yeezy brand. If the deal ever falls apart, it is possible that Adidas might give him the brand of them let them buy, but that would be extremely expensive. “
Adidas owns the Yeezy brand and pays Western royalties, Celebrity Net Worth explains. “The whole reason why Kanye dumped Nike in 2013 was because he didn’t earn any royalties. Adidas offered him a partnership where they would pay him royalties, so he became an Adidas man.” Adidas characterized the brand as ” a small part of our company “, so it is unlikely that West’s royalties have made him a billionaire.
Moreover, the brand is also not worth $ 1 billion. GoBankingRates reports that Kanye West claimed in April 2018 that “Yeezy will hit a billion dollars this year.” However, “His claim that Yeezy would reach the milestone is unlikely.”
Kanye West’s net worth account for less than half of his family’s fortune
As GoBankingRates notes, the net worth of Kanye West is impressive. “But it is less than half the family fortune,” the publication reports. Current estimates put Kim Kardashian’s net assets at $ 350 million, according to People. “Kim’s beauty line KKW has become her personal money maker,” says People.
“She came in at number 54 on the fourth annual America’s Richest Self-Made Women list of Forbes. In addition to cosmetics, Kim’s presence on social media, mobile game, endorsement deals and Keeping Up with the Kardashians money all contributed to her incredible value “
GoBankingRates reports that one of the largest expenditures for the couple was their $ 20 million estate in Hidden Hills, California. They bought the house in August 2014 and have reportedly spent another $ 20 million overhauling the 30,000-square-meter home recently. Before moving to Hidden Hills, they lived in a 9,000-square-foot Bel Air mansion, which they bought for $ 9 million in 2013, updated $ 2 million, and sold for $ 17.8 million in 2017.
West’s lyrics reveal his attitude toward money
As People report, the texts of Kanye West have long shown a complicated attitude towards money. “In the early work of West, he saw an honest, albeit conflicting view of the state of rap music with his obsession with material wealth,” reports People. The song “Gold Digger” on the other hand “gives a somewhat disturbing picture of West’s views on money, women and children.” On ‘Heard’ Em Say, ‘West takes’ a clear look at poverty and income inequality. “
But on “Touch the Sky,” he reveals that he is “always busy with status,” according to People. In “Otis”, Western names Mercedes-Benz, Hermès and Maybach, and on “Niggas in Paris”, he mentions Gucci, Louis Vuitton and Maison Margiela. Plus, Forbes reports that the latest albums from Kanye West and Jay-Z reveal how the Wests and Carters view money differently. “While Beyonce and Jay-Z view their wealth as a means to transcend adversity, West regards wealth as a trap that only exacerbates its problems.”