Nearly a year ago, people couldn’t come to grips with the news that Kanye West was crossing over to billionaire status. But today, with proof backing West’s claims, the world now knows that the once aspiring producer-rapper from Chicago is in the billionaire club.
The recognition is hard-earned, however. A snarky Forbes article subliminally (or explicitly, depending on your perspective) taunted the rapper and to this day, the media platform still can’t fully admit that it was being a little dismissive of the “Jesus Walks” artist.
But, after much back and forth with the reputable media company notorious for counting pockets, Forbes begrudgingly confirmed that Mr. West, 42, is an official billionaire.
How did West get there? Well, his apparel and footwear brand Yeezy and subsequent deal with Adidas to manufacture, market and distribute the popular sneakers, along with a diverse portfolio that includes real estate and a formidable music discography (worth a reported $110.5 million) all contributed to his building success.
The result is a revenue of $1.3 billion, according to Forbes. However, West disputes this amount saying that the number is actually $3.3 billion.
His wife, Kim Kardashian West, went on Twitter to congratulate her hubby with a retweet of a Bloomberg article praising West’s transition from rich broke to billionaire.
“Alexandra Fletcher, a Bank of America spokeswoman, confirmed the authenticity of the document reviewed by Bloomberg,” the Bloomberg article stated. “Prepared in September, it hasn’t been updated since the coronavirus pandemic began. The valuation of ‘future royalties generated in the footwear category is estimated from $1.75 billion to $3 billion…Yeezy is West’s largest asset by far.'”
This is a far cry from the time when West went on Sway’s Universe in 2013 and talked about the systemic barriers to entry in the fashion world and how he was falling into debt to the tune of $53 million trying to jumpstart his own brand.
Now, he has plans to venture into different industries with Yeezy spearheading a legacy he hopes to pass down to his growing children.
Even with this accomplishment to add to his already long record of achievements, some critics refuse to give him credit. West’s public antics that include political proclamations, converting to christianity, targeting the likes of Jay-Z and Drake and having some of the most infamous interview soundbites seems for critics to be enough to discount his track record.
With that said, keep in mind that West is a young, black man in America raised mostly by a single parent who worked himself up from student to teacher. Personal biases aside, West is an example of why people come to America, why people enroll in college, why people take on several internships and why people seek ownership.
He’s the example of what the American dream should be, business wise.
