The Billionaire tracking magazine, Forbes Magazine, has revealed that American A-list rapper turned gospel singer and entrepreneur, Kanye West has become a billionaire.
According to Forbes Magazine reporter, Zack O’Malley Greenburg, Kanye had long pushed for his name to be included in the list of billionaires, insisting that his networth was somewhere in the region of $3.3 billion dollars.
With his massively successful Yeezy brand that is tied in a complex partnership with Addidas and a very successful music career, that figure may not be far from reality. But Kanye, famous for his outsized self-image and larger than life image, Forbes was very skeptical, and this drew ire from the talented artist.
Forbes reported that Kanye barraged them with texts for ignoring him in their more recent billionaire list, and to make matters worse for Kanye, his little sister-in-law Kylie Jenner made the list.
In one texts, Forbes described Kanye as saying, “since no one at Forbes knows how to count.”
Fast-forward to this month, and Kanye opened his books to the team at Forbes and after a long, detailed but complex number-crunching and analysis, the media outlet arrived at a figure apt for Kanye’s networth: $1.3 billion.
Although Kanye disputed the figure and insisted his networth is $3.3 billion, he’s finally made it to the list of billionaires, with a sum $300,000,000 higher than his sister-in-law, Kylie Jenner.
So, what are the sources of Kanye’s massive fortune?
To put it short, less than 10% of it is liquid – that is he doesn’t have much cash sitting in the bank. But he owns several juicy assets, and like most billionaires, his networth is tied to tangible investments that most laymen would snub.
1: His stake in Yeezy. Yeezy’s annual revenue is reportedly over $1.3 billion dollars according to Forbes magazine, and Kanye owns 100% of it. But a complex agreement means that Addidas still takes the majority of the chop and leaves the brilliant artist-turned-designer with barely 11% of it, which means, he only gets $140 million from his shoe brand.
2: Real estate. Kanye is renowned for his taste in high-quality architecture and his houses are testaments to that. Forbes report that according to Kanye West’s team, his biggest assets include $81 million in “buildings and improvements,” plus another $21 million in land. The artist owns several other multi-million dollars landed properties that he shares with his famous wife, Kim Kardashian West.
3. Vehicles: Kanye sure loves his toys, so it’s not unimaginable when Forbes listed that the versatile artiste close to $4 million in vehicles.
4. Kanye West’s G.O.O.D label: According to Forbes, documents showed the artist owns at least $90 million in publishing rights from his record label.
5. Two Wyoming ranches: Forbes reported that Kanye and his wife own close to 10,000 acres among themselves.
6. Cash and stocks: Remember we said that Kanye doesn’t have much cash? Well, that’s compared to his billionaire status, he’s not like any of you broke asses. He reportedly has $17 million in cash and $35 million in stocks.
7. Debts: Kanye is also big on debts after Forbes revealed that between debts and advances and mortgages alongside other liabilities, Kanye’s debt is nearly $100 million.
To round it up, Forbes put Kanye West’s total networth at $1.3 billion dollars. Not bad at all.
Follow OYOGist.com on Twitter and Facebook to engage with our community and participate in our random giveaways.
