No. Kanye West is not the richest black person in America.
Last week, the internet was ablaze with news that Kanye West is the richest black person in USA history. This was after being valued at having $6.6 billion. But now Forbes is disputing this news and explaining how and why it isn’t particularly true.
First off, the news came after Bloomberg reported that Kanye’s sneaker brand, Yeezy—as well as Yeezy Gap, (which has yet to sell one stitch of clothing) have a combined value of as much as $4.7 billion. The publication mentioned, without going into full detail, an additional $1.7 billion in assets. According to Forbes’ calculations, this isn’t true. Kanye is worth less than a third of that, or $1.8 billion.
Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., worth an estimated $6 billion, while Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world.
Assumptions about Kanye’s wealth were made based on projected future earnings, particularly for Yeezy Gap, which hasn’t even launched yet. Forbes’ much more grounded number is based on that old-fashioned idea of current revenues, not theoretical future expectations.
Here is a breakdown of Forbes’ estimate of his net worth:
- Yeezy: $1.5 billion
- Cash and other assets: $160 million
- Music catalogue: $90 million
- Skims: $64 million
- Yeezy x Gap: $0