Kanye West’s net worth just went up.
The 43-year-old rapper is now worth a reported $6.6 billion, according to PEOPLE. Over half of that amount comes from his Yeezy sneaker and apparel empire, which includes partnerships with adidas and Gap. The brand was valued between $3.2 billion and $4.7 billion by UBS Group AG.
Last year, West announced a 10-year partnership with Gap, which “could be worth as much as $970 million of that total,” Bloomberg reports. The Yeezy Gap collection, which is scheduled to launch by July, is expected “to break $150 million in sales in its first full year in 2022.” Gap expects it to become a billion-dollar revenue brand within eight years, with sales exceeding $1 billion as soon as 2023.
West retains full ownership and creative control of the Yeezy brand. His shoe deal with adidas remains his largest asset and continues to grow at a “staggering” rate, according to UBS’ analysis.
West’s finances, provided by his lawyer, shows another $122 million in cash and stock and $110.5 million from his music catalog, plus $1.7 billion in other assets, including a significant investment in SKIMS, Kim Kardashian’s underwear label.
His worth has gone up significantly in the past year. Back in April 2020, Forbes declared that he was worth $1.3 billion, while Kanye disputed that figure, claiming he was worth almost triple. “It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count,” he told the magazine at the time.
The $6.6 billion figure would make him wealthier than other famous billionaires including Oprah Winfrey.
[Rap Up]
