Kanye West’s net worth has been a topic of interest this week, as some new fashion deals made the rapper give himself the title of the world’s richest Black man. According to a report from Bloomberg, his new net worth was somewhere in the range of $5.1 billion and $6.6 billion. These numbers could be credited to his Yeezy brand which was valued between $3.2 billion to $4.7 billion and the brand’s partnership with Gap, which was reported to be valued as high as $970 million.
West was thought to have $122 million in cash and stock, $110 million from his music catalog, and $1.7 billion in other assets, but according to Forbes, these numbers were grossly inflated. The publication recently reported that the aforementioned numbers were based on West’s speculative wealth and not on the actual money and assets he owns.
According to calculations from Forbes, West’s net worth is about $1.8 billion, a significantly large drop from the initial numbers. The correction comes as his Yeezy company was altered for a $1.5 billion valuation and not the $3.2 billion to $4.7 billion range that was initially given. Forbes added that the $970 million number of the Yeezy and Gap partnership is extremely speculative since the brands’ first collaboration has yet to be released.
Forbes also said that West’s reported $1.7 billion in assets was exaggerated, as the actual number is $160 million. This number was calculated based on a balance sheet that was obtained from the rapper’s team. The value of his art, jewelry, vehicles, furniture, and livestock proved that the $1.7 billion was inaccurate.
Despite the correction, West’s net worth still experienced a jump from $1.3 billion to $1.8 billion since he was announced as hip-hop’s second billionaire last year.