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Thursday, April 22, 2021

Kanye West becomes the richest black man in US history

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Rapper Kanye West has become the richest black man in American history after his net worth soared up high to $6.6 billion, which largely came from his Yeezy fashion brand.

The 43-year-old’s sneaker and apparel business – boosted by Adidas AG and Gap Inc. – has been valued between $3.2 billion to $4.7 billion by the UBS Group AG.

West currently has full ownership and creative control of the Yeezy brand by himself and previously signed a 10-year agreement to design and sell clothes under the Yeezy Gap label last year.

There, Kanye will craft items for men, women and kids. The arrangement excludes footwear, however, as Yeezy’s partnership with Adidas lasts until 2026.

Kanye who is a father of four with ex-wife Kim Kardashian has an additional $1.7 billion in assets, $122 million in cash and stocks and about $110 from his music career.

Previously Kanye has been claiming that Forbes was under valuing him and that he was worth more than what they had been telling to the world. Yeezy’s partnership with international brands has helped him increase his assets and worth.

The ‘Gold Digger’ rapper is currently facing divorce from his wife. It is reported that the couple had signed a prenuptial agreement before their wedding and neither party will be contesting the terms of the contract.

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