On Wednesday, numerous outlets reported that Kanye West is America’s richest Black person, worth up to 6.6 billion dollars. Forbes says these news reports are false.
A report released by Forbes today that states that Kanye West is not worth $6.6 billion as speculated by the Bloomberg report.
Forbes estimates that he’s worth less than a third of that, or $1.8 billion.
In May 2020, West’s net worth was pegged to be around $1.3 billion, a very huge jump to the purported $6.6 billion.
They categorically stated that Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., an estimated networth of $6 billion, while Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world.
Forbes says that even though the revenues from his sneaker brand, Yeezy increased by 30% last year their report is much more grounded since “it is based on the old-fashioned idea of current revenues—not theoretical future expectations.”
In the report, Forbes mentioned that “while West’s team insists the Yeezy x Gap deal is worth about $1.5 billion and the Bloomberg story says it could be worth as much as $970 million, Forbes isn’t giving this any value until the products start to sell”
They stated that his new fashion brand, Yeezy Gap had brought in no revenue, let alone any profits.