Monday, September 20, 2021

Kanye West Reportedly the Richest Black Man in America, Worth over $6.6B

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*Kanye West is reportedly worth $6.6 billion due to his sneaker and apparel business Yeezy. 

EURweb.com previously reported that the hip-hop star and his Yeezy fashion line inked a 10-year deal with GAP for a collection that will launch this year. Per CNN, the combined value of West’s Yeezy sneaker partnership with Adidas and his clothing line with the Gap is worth $3.2 billion to $4.7 billion, according to a UBS report published in February.

West also has “$122 million in cash and stock and $110 million from his music catalog, alongside $1.7 billion in other assets, including estranged wife Kim Kardashian’s SKIMS business,” writes PEOPLE

In a 2015 interview with Style.com, West noted his desire to work with Gap, saying: “One of my dreams was to be the head creative director of the Gap. I’d like to be the Steve Jobs of the Gap … [I want] full Hedi Slimane creative control of the Gap.”

READ MORE: Kim and Kanye Said to be the Not-Speaking-to-Each-Other Zone

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Kanye’s deal with the brand is for 10 years, with an option to renew after five, according to the New York Times.

“Under West’s creative direction, the Yeezy design studio will develop the new line to deliver modern, elevated basics for men, women, and kids at accessible price points,” Gap announced in a statement.

“This partnership brings the relationship between West and Gap full circle, as Kanye worked in a Gap store as a teen growing up in Chicago,” the brand stated.

The hip-hop star is currently embattled in what is expected to be a messy divorce battle with Kardashian, who filed for divorce in February. The couple share four children.

Meanwhile, West joins investor Robert F. Smith as the only two Black businessmen with a net worth of at least $6 billion.

Ny MaGee
Ny MaGee is a screenwriter and freelance reporter from Chicago -- currently living in Los Angeles and covering A-list entertainment for various outlets, including Emmys.com. She has worked for: Miramax, MTV & VH1, The Jim Henson Company, Hallmark Channel, Paramount Pictures, and for iconic indie film producer Roger Corman.

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