Kanye West becomes richest Black American with $6.6bn net worth

Kanye West
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Music producer-composer Kanye West is the richest Black person in the United States, according to a report in Bloomberg.

The 43-year-old’s net worth is close to $6.6 billion, thanks to his sneaker and apparel business, Yeezy.

The report said that his brand’s tie-up with Adidas and GAP is estimated to be between $3.2 and 4.7 billion. His new tie-up with GAP, which will hit stores this summer in the US is estimated to be worth $970 million.

An unaudited balance sheet of West’s finances provided by his lawyer to Bloomberg includes another $122 million in cash and stocks, and more than $$1.7 billion in other assets including a significant investment in Skims, Kim Kardashian’s underwear label.

The report also said that West’s entire music catalogue is worth $110.5 million, according to a 2020 valuation.

West and his wife, reality star Kim Kardashian, recently filed for divorce after being married for seven years.

Meanwhile, it’s been a good week for Kanye West after he won his first gospel Grammy, for his ‘Jesus Is King’ album. It was his first honour from the Recording Academy in eight years, and his 22nd career Grammy.

It also made him the most awarded hip-hop performer in Grammy history, with 22 wins. He went into the 2021 Grammys with 21 wins each, previously tied with Jay-Z.

The 63rd Annual Grammy Awards were delayed owing to the ongoing Covid-19 pandemic. The annual show shifted from its original January 31 broadcast to March 14. The ceremony honours musical artists, compositions and albums across 84 categories.