Kanye West Is Now the Richest Black Man in American History With a Net Worth of More Than $6 Billion
The rapper and designer has seen his earnings jump this year, in large part due to his Yeezy brand.
Artist Kanye West is now the richest Black man in U.S. history, People reports.
The 43-year-old rapper, whose hit singles include "Stronger," "Heartless" and "Gold Digger," is worth approximately $6.6 billion — less than a year after he first appeared on Forbes' annual billionaires list. The jump is largely attributed to West's sneaker and apparel brand Yeezy, which is currently valued between $3.2 billion and $4.7 billion by UBS Group AG.
Though West initially claimed that his net worth was more than $3 billion in April 2020, Forbes disputed the figure at the time and put the number closer to $1.3 billion.
The rapper has full ownership and creative control of Yeezy but also has a partnership deal with Adidas AG and — more recently — Gap Inc. West signed a 10-year deal with the latter company in June 2020. A Bloomberg report notes that the value of that particular partnership "could be worth as much as $970 million of that total."
In addition to his Yeezy brand, West reportedly has $122 million in cash and stock. He also has $110 million from his music catalog (the rapper has released nine studio albums and three collaborative albums to date) and $1.7 billion in other assets — including a stake in his estranged wife Kim Kardashian's SKIMS line.
West joins investor Robert F. Smith as the only two Black businessmen with a net worth of at least $6 billion.
Justin Chan is a news writer at Entrepreneur.com. Previously, he was a trending news editor at Verizon Media, where he covered entrepreneurship, lifestyle, pop culture, and tech. He was also an assistant web editor at Architectural Record, where he wrote on architecture, travel, and design. Chan has additionally written for Forbes, Reader's Digest, Time Out New York, HuffPost, Complex, and Mic. He is a 2013 graduate of Columbia Journalism School, where he studied magazine journalism. Follow him on Twitter at @jchan1109.