Is Kayne West The Richest Black American? Bloomberg, Forbes Disagree

Kayne West has become the richest African American in U.S. history, with a net worth of $6.6 billion, according to Bloomberg.

But, Forbes, a publication that also tracks wealth argues that West is worth just 1/3rd that amount, at $1.7 billion.

Though West said he was $58 million in debt three years ago, he turned his fortune around through the creation of his clothing brand Yeezy and multi-year contracts with Gap and Adidas.

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UBS estimates those deals to be worth an estimated $3.7 to $4.2 billion. Bloomberg based basing its wealth calculations primarily off the bank’s valuation of West company.

Forbes however writes that the estimate is inaccurate because, UBS “made a number of assumptions based on projected future earning, particularly for Yeezy Gap, which hasn’t even launched yet. Bank documents like this,” the Forbes author writes, “are well known for best-possible-scenario future valuations.”

Sales for Yeezy grew 31% during the pandemic to $1.7 billion, netting Yeezy $191 million in royalties.

Meanwhile, West’s cash and stock is estimated to be worth $122 million and he reportedly has an additional $110 million via his music catalog.

In addition to his Yeezy fortune, West is said to have a $1.7 billion investment in his soon-to-be ex wife Kim Kardashian’s company Skims.

Kim Kardashian

 

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