Kanye West has reached billionaire status, according to a newly published Forbes report. According to the outlet, Kanye recently provided documents that is believed to be an “authentic numeric look into Kanye, Inc.” After analyzing his assets, Forbes determined Kanye was, in fact, a billionaire—something he claimed during an appearance at the 2019 Fast Company Innovation Festival. “When I did Forbes, I showed them a $890 million receipt and they still didn’t say ‘billionaire,’” Kanye told the audience. Accordingly to Forbes, it appears Ye is worth just a little over $1 billion; a large chunk of which comes from his highly successful Yeezy brand and its partnership with Adidas. “It’s not a billion,” West texted Forbes. “It’s $3.3 billion since no one at Forbes knows how to count.” Bank of America Corp. valued the sneaker side of the business alone at as much as $3 billion last year, according to a document reviewed by Bloomberg. That was before the Covid-19 pandemic devastated the fashion industry. West is now looking to bring the Yeezy name into other realms, including architecture, hospitality and even urban design. He calls it the “next frontier of living for humanity.” For now, though, the sneakers are the engine that keeps the brand humming. Yeezy was on track to generate $1.3 billion of shoe revenue in 2019, a 50{e3cb3645da6451da744107b6a3b129b15150ce1d82d61f67aea81a557b8c0645} increase from a year earlier, according to Bank of America. West would earn $147 millionin royalties from those sales. “All of this is Level 2,” West said of Yeezy’s evolution when reached by phone on his ranch near Cody, Wyoming, where his family is riding out the Covid-19 pandemic. It’s also one of the places he’s considering building an entire city from scratch — Yeezy City. “It’s time to go to Level 3,” he said.

Back to top button