The 42 year old rap star has been given the title by Forbes magazine, which estimates he has a current net worth of $1.3 billion. The magazine calculated the worth of the artist’s assets, including West’s Yeezy sneaker collaboration with Adidas, which Forbes estimated brought him royalties of over $140 million from sales last year, properties, assets and his G.O.O.D. record label, worth at least $90 million. Yeezy, the sneaker brand was on track to $1.3 billion in footwear revenue in 2019, according to a Bank of America document reviewed by Bloomberg.
Forbes journalist Zack O’Malley Greenburg explained that when the magazine featured West on the cover of the magazine in 2019 , they didn’t label him a billionaire. “Without sufficient documentation on his unusual stake, versus just his word and industry guesstimates, we didn’t call him a billionaire,” O’Malley Greenburg wrote. But after being provided with an “authentic numeric look into Kanye, Inc.”, Forbes started to crunch the numbers and was able to validate his billionaire status. However, Kayne feels undervalued and that West insists his worth stands at $3.3 billion, and he texted the magazine to say: “It’s $3.3 billion since no one at Forbes knows how to count.” West has come a long way since claiming to be $53 million in debt just four years ago. In February 2016, after revealing his financial woes on Twitter, the rapper also used the social media platform to personally ask Facebook founder and CEO Mark Zuckerberg to invest $1 billion in his work.