With Net Worth Of $6.6bn, Kanye West Becomes Richest Black American

Billionaire Kanye West producer, rapper, and fashion mogul is now the richest black American in United State with $6.6bn, as revealed in a new Bloomberg report.

He is reportedly the richest black man in America’s history. Outside Steven Spielberg ($7bn) and George Lucas ($10bn), West is the 3rd richest in the world.

Last year, it was reported that– West became a certified billionaire with the help of his successful apparel and sneaker brand, Yeezy and a new multi-year contract with Gap (NYSE: GPS +1.64%).

However, Billionaire West has surpassed Oprah Winfrey’s $3.5bn net worth, David Steward’s $3.9bn net worth and Robert F. Smith’s $6.5bn , Moving from fourth richest to first Black richest in US.

According to Business of Fashion, his wealth today was made possible by his popular Yeezy brand, which has partnered with Adidas and Gap Inc. The brand is now worth between $3.2bn and $4.7bn by UBS Group AG.

Billionaire West has accumulated $122m in cash, stock and investments in estranged wife Kim Kardashian’s clothing line, SKIMS, as well as $110m from his music catalogue.

Recall, sometime last year, West claimed that his net worth was more than $3bn, which is more than billionaires such as Oprah Winfrey, but that report wasn’t accurate. Forbes reported that his net worth at the time was $1.3 billion.

Owing to that, West said: “It’s not a billion. It’s $3.3bn since no one at Forbes knows how to count.”

Bloomberg noted that the new Gap line is expected “to break $150m in sales in its first full year in 2022.”

West has full control and ownership over the Yeezy brand and has signed a 10-year contract to sell clothing under the YZY/GAP umbrella.