$ 5.6 billion crowns Kanye West richest black artist in America


By CAPosts 24 March, 2021 - 09:54am 67 views

An empire. There is no other way to define the enormous amount of money, fashion brands, power and luxury that rapper Kanye West has amassed throughout his 43 years. In recent decades, the heritage of the musician and businessman has been growing little by little, sometimes in fits and starts and with debt, but in recent years it has taken an exponential leap. According to a report accessed by the Bloomberg economic portal, today West's fortune, including his business unions, would be valued at 6.6 billion dollars, more than 5.58 billion euros.

The report that Bloomberg has had access to has been prepared by the financial company UBS. In it it is collected that it has been mainly two companies that have raised the financial status of West. On the one hand there is Yeezy, the famous brand of sneakers and sports equipment that he founded in 2013 and that has made him rich : it is valued between 2,700 and 3,970 million euros. During the pandemic, sales of this line of sneakers that it has together with the multinational Adidas rose more than 30%, providing it with more than 160 million euros, according to that document, which considers that it is a sector that will continue to grow. On the other, the agreement it has reached with the fashion firm Gap, for which it has designed a line of garments that will arrive in stores in July and is valued at almost 820 million euros.

explains the economic environment that The UBS report reflects that West's expectations are placed on this new contract with Gap , which he intends to grow to the levels of popularity and acceptance of Yeezy, whose creative and financial control is his. This is what the San Francisco textile company wants, which will try to reinvent itself, rejuvenate its image, trace purchases and bring its product to new audiences thanks to the rapper, who they have said is very focused on this new job. West will always maintain control of both collaborations; In the footwear sector, it has signed an exclusive with Adidas for the next five years, while with Gap it has closed the deal until 2030.

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In addition, the report reflects that the artist has a liquidity of more than 103 million euros, that his musical catalog is valued at another 93 and that he has investments of more than 1,430 in other businesses, including Skims, the clothing firm interior released by his still wife, Kim Kardashian, from whom he is separating . The quantitative leap is not bad for a businessman who just five years ago owed, as he himself counted, almost 14 million dollars, and four almost 45 million ago, and who even asked Mark Zuckerberg to invest in his companies through Twitter.

Between Yeezy, Gap, his investments, his music and his personal fortune, West's amount would touch 5,600 million euros, which according to media such as the New York Post would equate his fortune with that of Robert F. Smith, businessman 58 years old and president of a private equity firm that according to the Bloomberg Billionaires Index would have about 5.9 billion and is the richest black person in the US They would both be far from the richest in the world, the Nigerian businessman Aliko Dangote , 63, with 9,980 million euros.

However, others have tried to deny these vertigo figures and have assured that they are not correct. This is the case of Forbes , a publication specialized in calculating the fortunes of the richest. According to the magazine's calculations, the money that West accumulates would be around a third of this figure, about 1,520 million euros in total, because among others the Gap valuation cannot be taken into account, since the collection does not even has started. They themselves recognize that it is "a great leap" from the almost 1,100 million that they estimated last May, but that it is very far from those 5,580.

Whatever the dizzying figures, it remains to be seen what will happen to the fortune of West now that he has announced his divorce from his wife for the past seven years, reality star and businesswoman Kim Kardashian. In recent months, since their separation was announced, Kardashian has stayed with her children in California while West has spent most of the time at her Wyoming ranch, traveling to Los Angeles to see her children and to further develop her business.

Both had signed a prenuptial contract , but it is possible that it has become obsolete, because their businesses have grown exponentially since they were married. Until a few weeks ago it was estimated that the union of their fortunes was about 1,800 million euros, 1,100 of West and slightly more than 700 Kardashian, but this latest report can turn everything upside down and even modify what the courts of a divorce that is settled by chapters and televised.

Source: Elpais

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