Kanye West becomes richest black person in U.S. history
American rapper Kanye West has become the wealthiest black man in American history.
The 43-year-old rapper, who clinched his 22nd Grammy on Sunday for Best Contemporary Christian Music Album for ‘Jesus Is King,’ is now worth $6.6 billion.
The rapper’s worth is mostly from his Yeezy line, which he is in partnership with Adidas AG and Gap Inc. The businesses are valued between $3.2 billion and $4.7 billion each.
Bloomberg reported that the upcoming collaboration between Yeezy and Gap (set to hit stores later this year) “could be worth as much as $970 million of that total.”
His other sources of income include music catalogue and business investments such as cash and stocks in his estranged wife Kim Kardashian’s SKIMS underwear brand.
Currently, Kanye West has full ownership and creative control of the Yeezy brand after signing a 10-year agreement to design and sell clothes under the Yeezy Gap label last year. The deal does not include footwear, as Yeezy’s partnership with Adidas remains in place until 2026.
He started working with Adidas in 2013 after collaborations with major fashion retailers, including Nike and LVMH.
In 2019, Forbes estimated West’s net worth at just $240 million, making him the fourth richest hip hop artiste behind Diddy, at $740 million, Dr Dre, at $800 million, and Jay-Z at $1.4 billion.
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