Kanye West Is Not The Richest Black Person In America According To Forbes! Kanye West may have recently been reported to be the richest Black man in American history, which for someone that was $53 million in debt just a half-decade ago is certainly an outstanding accomplishment. Well-respected publications, including Bloomberg, reported that the music mogul was worth an estimated net worth of $6.6 billion this week, with his Yeezy brand making up more than 50 percent of his entire financial portfolio.
The article named Kanye West as the wealthiest Black man in the US history, noting his Gap deal estimated to be worth between $3.2 billion and $4.7 billion and his Yeezy sales helped push his net worth from $1.3 billion to $6.6 billion, placing him well ahead of fellow Black billionaires; JAY-Z and Oprah Winfrey.
Even before the world is done reacting to the alleged reports, Forbes has come out to make things clear after releasing a new report that disputes Kanye’s earnings, bursting his bubble as well as that of his fans. According to Forbes, Kanye West’s actual net worth is likely only about $1.8 billion.
“West’s wildly optimistic approach to his net worth mirrors the approach used by Donald Trump, who insists the value of his name be included in any net worth estimate,” writes Forbes staff writer Madeline Berg. “Trump, who we value at $2.5 billion, says his brand has an intrinsic value, regardless of actual revenue. West and his camp are making a similar argument for businesses attached to the Yeezy name.”
To make things a bit palatable, basically what Forbes is saying is that Kanye’s net worth estimate is inaccurate as it includes future assets. According to Forbes’ own evaluation, the Yeezy x GAP partnership, which was reported by Bloomberg as being worth nearly a billion dollars, has been given a valuation of $0 because no products have been made available in the market yet.
The report further disputes the headline that Kanye West is officially the richest Black man in American history, giving that accolade to Vista Equity’s Robert F. Smith, who Forbes estimates at $6 billion.
Nevertheless, the numbers presented by Forbes still show a significant rise in Kanye’s net worth, considering the fact that the publication had previously disputed that West wasn’t even worth a billion. The artist became critical of Forbes, calling them his “favorite white supremacists”. “They gangster, bro. They don’t live in 2020. They act like it’s 1800s, still,” said Kanye during an interview with Nick Cannon last year.