According to Forbes, Kanye West has officially crossed the billionaire threshold. The rapper/producer/designer provided Forbes with what they considered to be “authentic” documentation to reinforce his earlier assertions to the publication.
The provided documents “confirm, based on our estimates, that his stake in Yeezy indeed makes him a billionaire. A bit over $1 billion, actually.”
Forbes discovered that West owns 100% of the Yeezy brand but will remain functionally bound to Adidas for a minimum five-year period as the company manufactures, markets, and distributes the popular sneakers. The documents also showed that Yeezy ended 2019 with $1.3 billion in revenue which West’s agreement with Adidas provides him with 15% royalties on all Yeezy revenue.
Not to mention Ye’s earnings and assets within the music sphere. His G.O.O.D. Music imprint is worth a reported $90 million in addition to other investments and assets worth somewhere around $125 million. Forbes’ final tally has Kanye’s net worth in the ballpark of $1.3 billion.
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Source: forbes.com
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