Kanye West is definitely not hurting for funds, but is he the richest black man in America? According to reports yesterday by Bloomberg the answer was “Yes”. However, Forbes magazine came forward today to refute these claims and bring some clarity to the “All of The Lights” hitmakers true net worth.
Yesterday we reported on Kanye’s crazy come up this year. The Hip-Hop icon turned fashion mogul is looking to make some good money this year off his Yeezy brand. He is currently a partner with Adidas AG and Gap Inc. The business venture is now valued between $3.2 billion and $4.7 billion by UBS Group AG.
The 43 year old is currently valued at $6.6 Billion dollars. This is a significant increase from what it was reported to be his net worth in April of 2020 via a Forbes spotlight.
Taking to their instagram today in a lengthy post, Forbes clarified on claims that West is now the riches black man in America.
Via their post, “No, Kanye West is not the richest Black person in America. On Wednesday, multiple outlets reported that West is the richest Black person in America, worth as much as $6.6 billion. The news comes after Bloomberg reported that his sneaker brand Yeezy—as well as Yeezy Gap, which has yet to sell one item of clothing—have a combined value of as much as $4.7 billion.”
The media giant continued to elaborate on West’s net worth. “The publication mentioned, without going into full detail, an additional $1.7 billion in assets. It’s not true, based on our calculations. Forbes estimates he’s worth less than a third of that, or $1.8 billion. That’s a big jump from last May when Forbes first pegged his net worth to be $1.3 billion, but nowhere near as much as the purported $6.6 billion.
They concluded “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. The reports are based on the magical thinking around sales that don’t exist yet. Forbes’ much more grounded number is based on current revenues—not theoretical future expectations. Tap the link in our bio for the full details. “
The revised report comes days after Ye snatched up the Grammy for Best Gospel album, just months after urinating on one of his other Grammys and denouncing the organization.