Kanye West: platinum-selling rapper, mogul, and billionaire?
According to Hip Hop Wired, “Sources close to Kanye tell The Blast his Yeezy company with Adidas just received a valuation that put their total worth close to $1.5 BILLION.”
His wife, Kim Kardarshian, confirmed it when she recently appeared on Jimmy Kimmel Live. Kimmel asked if she is a billionaire and she responded with “I would say my husband is. That makes me one, right?”
Pretty crazy how far West’s finances have turned around since in 2016 he complained about having $53 million in debt. According to CapitalXtra, West tweeted on February 14, 2016, “I write this to you my brothers while still 53 million dollars in personal debt… Please pray we overcome… This is my true heart…”
Interesting that he’s almost or is considered a billionaire when West was not on the latest World’s Highest-Paid Celebrities list made by Forbes. Yet his younger sister-in-law Kylie Jenner was at the top at No. 3, making $166.5 million.
Jenner did catch some flak when she appeared on the cover of Forbes as they claimed at 21 she’s the “youngest-ever self-made billionaire.” According to Vox, the criticism is that she isn’t technically self-made if she was born into a family of wealth and power like the Kardashians.
It is not surprising that West is getting more money considering he continues to grow his Yeezy brand. He tweeted out on Saturday teasing that he would add basketball sneakers to the Yeezy shoe line. He included some mock-up doodles of possible basketball sneakers for 2019.
adding basketball pic.twitter.com/S61SkXdY7A
— KANYE WEST (@kanyewest) July 27, 2018
According to ESPN, West wore an early sample of the first Yeezy basketball shoe during an impromptu pickup game at UCLA. He also has been working on a basketball shoe line for over two years. The shoes, much like most of the rest of the Yeezy shoe line, is going to be pretty expensive. The price point is expected to be more than $225, according to industry sources.
According to ESPN, “for now, Adidas plans to launch a variety of new Yeezy silhouettes in 2019 and is locked in on a long-term deal with West that goes far beyond a standard endorsement deal.”
West is also great with buying and selling stocks. According to CNBC, the portfolio that West chose for his wife outperformed the S&P 500 by more than 40 percent.
It looks like West has made a complete 180 from his debt days of 2016 and he is raking in the cash.