Rapper and fashion icon Kanye West has become the richest black man in U.S history, having seen his net worth hit $6.6 billion after officially becoming a billionaire in 2020. Bloomberg reports the “Jesus Walks” artist is now worth the aforementioned sum.
The publication cites a UBS report from last month claiming the 43-year-old has his apparel business to thank for at least half of his wealth, with his Yeezy partnership with sportswear giants Adidas and clothing line deal with the gap accounting for $3.2 billion to $4.7 billion.
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West has another $1.7 billion in other assets that include a pretty big investment in soon-to-be-ex-wife Kim Kardashian’s Skim shapewear line. Where music is concerned, the hip hop mogul’s catalog is worth $110 million while he has an additional $122 million in cash and stock.
Kanye and the Gap brand announced a 10-year partnership in June last year. The development saw Gap’s stock hit a 19 percent rise that same month, though it leveled out in the weeks that followed. The deal with Adidas was extended in 2016 on the back of a very successful partnership which the brand labeled “the most successful partnership ever created between a non-athlete and an athletic brand.”
The rapper’s Yeezy sneakers typically sell out within minutes after they go out on sale online and are some of the most coveted shoes around. While Michael Jordan’s Jordan Brand is still responsible for the most sought-out footwear worldwide, Yeezy is becoming a monster in its own right.
Kanye, though, remains keen on wearing the former Chicago Bulls superstar’s shoes and, last September, expressed a desire to still be able to put on Jordans.
“In my Adidas contract, [I] definitely should be able to wear Jordans,” he told Nick Cannon, per Input. “Jordans need to be part of reparations. You can’t tell a Black man not to wear Jordans. It should be in any deal. And also, you can wear your friend’s clothes.”
Nike and Adidas are rivals so we aren’t sure he will ever be able to secure such a clause but, given his importance to the German company, who knows?
Kanye also filed for a Yeezy beauty line trademark last June. The line, should it come to fruition, will include scented ceramic stones, aromatherapy pillows, essential oils, bath crystals, and scented pinecones, as well as the customary makeup and fragrances.
Last April, Forbes reported the rapper’s net worth had peaked at $1.3 billion. With a little under a year gone, it’s nearly six times that amount.
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