Kanye West becomes the richest black man in US history

By Mark Finley
April 29, 2021

Kanye West

The rapper and fashion mogul Kanye West is reported by Bloomberg to be worth $6.6 billion dollars, making him the richest Black man in America’s history. This comes less than a year after he first appeared on Forbes’ annual billionaire’s list.

West’s main worth is full ownership and creative control of Yeezy, which is worth around $3.2 billion and $4.7 billion by UBS Group AG. Yeezy is a sneaker and apparel brand and has a partnership with Adidas.

In June 2020, West signed a 10-year deal with Gap Inc. that Bloomberg reported this relationship could be worth up to $970 million. Gap Inc. is a retail store that sells clothing and accessories. The Yeezy-Gap partnership includes hoodies, basics, T-shirts and joggers that will be sold in-store and online.

Also, West reportedly has $122 million in cash and stock. He also has $110 million from his music catalog. West has released nine studio albums and three collaborative albums, along with countless amount of songs.

Other assets and investments including a stake in his estranged wife Kim Kardashian’s SKIMS line have netted West $1.7 billion dollars. SKIMS is a clothing brand that sells underwear, loungewear and shapewear.

Less than five years ago, West claimed that he was in debt and he claimed that he was around $53 million dollars in debt.

West became the seventh black billionaire in America, joining David Steward, Shawn Carter (Jay-Z), Michael Jordan, Oprah Winfrey, Robert F. Smith and Tyler Perry. West and Smith are both worth at least $6 billion.

Jay-Z (Left) and Kanye West (Right) performing one of their countless songs together during a concert.
Photo by Dan Wolf

Yeezy sales grew throughout the year with sales growing 31 percent in annual revenue and the company earning $191 million in royalties. This was during the COVID-19 pandemic when millions of Americans lost their jobs.

The average retail price of Yeezy’s shoes is around $200 but the price can go all the way up to $2,000. The price of a Yeezy sweatshirt can range from $25 all the way up to $60.

West just recently won his 21st Grammy with “Jesus Is King” album. This comes after a viral video of West urinating on a Grammy.

West has been conversational throughout his whole career. Whether it is different rap lyrics, interrupting Taylor Swift or running for president, West has always been in the headlines. West rose to frame back in the early 2000s.

Kanye West (Left) interrupting Taylor Swift (Right) during the MTV award show.
Photo by David Wolf

West has for many years dealt with mental health problems, bipolar disorder in particular.

With the news of West becoming the richest black man in America, a lot of people how different opinions about West.

“I really did not know that he was this rich,” Michael Taylor, freshman accounting major, said. “I think that it is really cool to see the redemption story.”

“Kanye is one of the greatest rappers of all time,” Isaiah Williams, sophomore business major, said. “This really shows that anything is possible.”

“I still remember Kanye’s interview with Sway arguing about his money,” Williams said.

Many people have doubted over the years and West has provided that he can be successful.

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Mark Finley

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