Update 04/25/2020 2:43pm:
Previously, news surfaced noting that Kanye West has officially become a billionaire. The news was revealed by Forbes, with the publication saying the rapper’s stake in ‘YEEZY’ is what brought him to the billionaire mark. They reported that West ended 2019 with $1.3 billion in revenue. However, West doesn’t seem too pleased with what was reported as the rapper and shoe mogul texted Forbes about the proper amount he made.
Via a text message sent to Forbes, the rapper pointed out the magazine got the amount of money he made incorrect, saying “It's $3.3 billion since no one at Forbes knows how to count.” This comes after news of his sister-in-law Kylie Jenner still being the youngest “self made” billionaire.
source: CNN
Original 04/24/2020 7:36pm:
According to Forbes, Kanye West has officially crossed the billionaire threshold. The rapper/producer/designer provided Forbes with what they considered to be "authentic" documentation to reinforce his earlier assertions to the publication. The provided documents "confirm, based on our estimates, that his stake in Yeezy indeed makes him a billionaire. A bit over $1 billion, actually."
Forbes discovered that West owns 100% of the Yeezy brand but will remain functionally bound to Adidas for a minimum five-year period as the company manufactures, markets, and distributes the popular sneakers. The documents also showed that Yeezy ended 2019 with $1.3 billion in revenue which West's agreement with Adidas provides him with 15% royalties on all Yeezy revenue.
Not to mention Ye's earnings and assets within the music sphere. His G.O.O.D. Music imprint is worth a reported $90 million in addition to other investments and assets worth somewhere around $125 million. Forbes' final tally has Kanye's net worth in the ballpark of $1.3 billion.
Source: forbes.com
