Kanye West has been standing out as truly newsworthy after reports that he is the richest Black man in the US with a total valuation of $6.6 billion. However, one news medium has come out to invalidate the report claiming he is worth just about one third of the implied sum.
Kanye West is definitely one of the wealthiest music artiste, however, his newly reported net worth isn’t quite accurate. Acording to Forbes, West’s real worth is about $1.8 billion , which is just about 33% of earlier reported $6 billion.
This isn’t the first time Forbes has contested the networth of a celebrity as it refuted claims made by its own report that Kylie Jenner was the youngest self-made billionaire. And just as the popular tabloid doubted the “Keeping Up with the Kardashian” star’s total asset value, it has done the same with West.
Earlier in the week, numerous news platforms announced that the rapper, who has multiple hit songs, is the wealthiest Black person in America, with a $6.6. billion net worth. This was after cable business news channel, Bloomberg announced that his sneakers’ brands, Yeezy and Yeezy Gap, have a consolidated estimation of $4.7 billion. The news outlet also referenced an extra asset worth of $1.7 billion.
“It’s false, according to our calculations,” Forbes announced. “Forbes gauges he’s truly worth about $1.8 billion.”
Kanye’s Real Net Worth
According to Forbes, as at last May, Kanye West’s total assets was valued at $1.3 billion. It has expanded and is currently $1.8 billion, however not even close to the indicated $6.6. billion.
West has been trying to artificially boost the value of his total assets, and previously, said Forbes was “deliberately snubbing me.” Forbes put together its asset analysis with respect to West’s asset on present revenues and not hypothetical future assumptions. For example, Yeezy Gap is yet to be a revenue stream for the rapper, which is why Forbes do not include it in its analysis..
Notwithstanding, Forbes recognized the ubiquity of Yeezy shoes, which has been selling like hotcake. Truth be told, the company’s income improved by 30% in contrast with last year. And when the limited 450 in Cloud White was released, it sold out almost immediately.
Vista Equity’s Robert F. Smith still is the richest Black man in the United States with a total assets valuation of $6 billion. This is still well-short of Nigerian business mogul, Aliko Dangote, who is the richest black man on the planet with a total assets valuation of $11. 8 billion.