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Kanye West Now The Richest Person In Hip-Hop w/ $1.3 Billion Net Worth

Kanye West has become Hip-Hop’s wealthiest person at $1.3 Billion, according to Forbes.

After Forbes announced it billionaires list earlier this month Kanye remained absent from absent from the list. Mr. West then questioned why publicly, “You know what you’re doing,” he texted. “You’re toying with me and I’m not finna lye [sic] down and take it anymore in Jesus name.”

Then, Kanye directed his financial team to make clear to Forbes his actual net worth. The Yeezy line alone pulled in a reported $1.3 billion last year. Also, Kanye reportedly makes more on royalties from his Adidas Yeezy line than Jordan makes off of Nike’s Air Jordans.

Forbes point out that it reviewed documents stating the Weezy brand is connected to Adidas, which produces all of Kanye’s hot-selling sneakers, for “five-plus years.” Meanwhile, the separate Yeezy apparel entity is said to bring in no revenue, meaning his biggest cash cow here is his partnership with Adidas.

Sneakers and apparel earnings aside, West reportedly has $17 million in cash, with another $35 million invested in stocks. His most valuable assets are said to be $81 million in “buildings and improvements” and another $21 millon in land. However, Kanye’s much-publicized debt, according to Forbes, is estimated to be around $100 million on mortgages, advances, and liabilities.

In basic terms, if Kanye decided to sell his Yeezy brand today he would cash out big time. Congrats Mr. West.

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“When Forbes last checked in with Kanye West, the mercurial hip-hop superstar-turned-footwear magnate was tiptoeing through a parking lot crop circle comprised of hundreds of pairs of his Yeezy sneakers. “I’m not a numbers guy,” he explained ten months ago. “To ask me to somehow translate this to numbers is to ask your grandmother exactly what the recipe of the cake was.” There’s only one number that West cares about. A billion, as in dollars. And he cares a lot. After months of requests, West shared his financial records, revealing details about his wildly popular Yeezy sneaker empire—and his fixation on outside validation.”



Source: www.forbes.com

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