Is Kanye West the Richest Black Person in America?
Some sources say yes, some say no
An article released by Bloomberg a couple days ago stated that Kanye West is now the richest black person in America. The article said that upon review of a private document by Bloomberg, and a valuation of $3.2 to $4.7 billion of West’s Yeezy and its tie-ups with Adidas and Gap by bank UBS Group AG, West’s total net worth is around $6.6 billion, making the richest rapper as well ahead of Jay-Z. This is a big step up from Forbes’ estimation of West’s value at $1.3 billion last May.
Now Forbes says that the reports are not true, stating that he’s most likely worth less than a third of that – about $1.8 billion. In an article released as a response to the claims, the main point for their reasoning is that Bloomberg’s article makes use of an estimation based on projected or future earnings, considering that the Yeezy-Gap collab hasn’t officially launched or sold any products yet. “Bank documents like this are well-known for painting best-possible-scenario future valuations,” they wrote.
The bank estimated that the tie-in could be worth $970 million alone, which Forbes discounted because it went against their methodology of using forecast or predictive fortunes. They valued Yeezy at $1.5 billion, his cash and assets at $160 million, and his music catalogue and other assets at over $150 million.
According to the Forbes story, Robert F. Smith of Vista Equity remains the richest black person in the country, with an estimated net worth of $6 billion. And Nigerian Aliko Dangote is the world’s richest black person, clocking in an estimated valuation of $11.8 billion.
It’s safe to say that West shouldn’t be too disappointed with the news. While his personal life is a bit more turbulent, considering he’s currently going through a divorce from Kim Kardashian, he did just pick up his 22nd Grammy Award on Sunday for Best Contemporary Christian Music Album for Jesus is King.