Kanye West becomes the richest black man in USA
Rapper, producer, and businessman, Kanye West has now become the richest black citizen in the United States of America, being worth an astounding $6.6bn (R96.5bn).
Yeezy: One of the smartest business ideas?
Forbes magazine reports that the rapper made the majority of his wealth from his well-known shoe brand Yeezy, partnering up with Adidas for production, marketing, and the distribution of the shoe.
The sneaker business is valued at between $3.2bn (R46.9bn) and $4.7bn (R68.9b.) with West also having additional business ventures like his collaboration with the GAP clothing brand.
West also makes a lot of his wealth from his music catalog (around $122m) and his other assets shared with his former wife Kim Kardashian which is worth around $1.7bn (R24.9bn).
West’s wealth is expected to rise even more with the wait of his Yeezy Gap collection expected to break $150m (R2.2bn) in sales in the first year of 2022 where the rapper will make most of his money designing items for men, women, and children, however, shoes won’t be part of the deal.
West’s business moves have proven to be one of the smartest as all of his ventures have made him one of the richest personalities in the world.
Kanye West: From zero to hero
Not so long the Chicago rapper had been mocked and ridiculed after news broke out that he had been in massive debt amounting to around $53m (R777m) back in 2016.
However, Ye has seriously bounced back after the success of his shoe brand which has seen the brand compete with the likes of Nike’s Jordan brand.
The rapper is now richer than his wealthy rap associates beating out Dr. Dre, Diddy and his former close friend Jay Z.
With such an accomplishment, many of Ye’s fans were seen congratulating the rapper over on social media, especially after the news of his apparent divorce.
However, t’s good to see the Chicago star return to the top.