photo credit: DKSStyle // Shutterstock
Kanye already knew he was a billionaire, but the world has just recently found out.
After months of requests, Kanye West finally submitted his financial records to Forbes, who then announced to the world that Mr. West is in the Billionaire’s Club!
Forbes journalist Zack O’Malley said there were many times Kanye reached out to the magazine claiming to be snubbed of the billionaire title, but without actual documentation, and not just Kanye’s word, the magazine could not include him in their annual billionaires list or classify him as a billionaire even when he appeared on their cover last year.
Forbes calculated Kanye’s assets at a total of $1.3 billion. These assets included Kanye’s Yeezy sneaker collaboration with Adidas, which he owns 100% of, Forbes estimated brought him royalties of over $140 million from sales last year, $17 million in cash, $35 million in stocks, $81 million in “buildings and improvements”, $21 million in land, assets and his G.O.O.D. record label, worth at least $90 million. Also taken into account were account debts,”asset illiquidity” and the magazine’s tendency to “look at self-appraisals somewhat skeptically.”
If you ask Kanye, he will tell you his worth is more so around $3.3 billion. To their surprise, Kanye text the magazine to say, “It’s $3.3 billion since no one at Forbes knows how to count.”
Congrats Mr. West!
Written by Clarke Jones