Kanye West becomes the richest black man ever in the US

The US rapper became a certified billionaire about a year ago as did his soon to be ex-wife, Kim Kardashian West.

With his net worth to have reached 6.6 billion dollars, Kanye is now the richest black man in American history.

This new report was given by Bloomberg, also stating that Kanye has a commanding lead over the likes of investor and businessman Robert F Smith and basketball legend Michael Jordan.

After claiming to have gone bankrupt just three years ago with a 53 million dollar debt, the rapper and fashion tycoon became a certified billionaire last year with the help of his successful apparel and sneaker brand, Yeezy, and a new multi-year contract with clothing retailer Gap.

Yeezy, Kanye’s sneaker and apparel business with Adidas and Gap is valued at $3.2bn (£2.2bn) to $4.7bn (£3.4bn).

The Yeezy brand and deals with Gap and sportswear giant Adidas is valued at $3.2bn (£2.2bn) to $4.7bn (£3.4bn), according to Bloomberg.

The new Yeezy-Gap line, which is supposed to be released later this summer, is expected to be worth more than $970m (£694m).

As Kanye is the sole owner of the Yeezy company, much of his net worth comes from there.

Some also comes from the $1.7bn (£1.5bn) that he earns from additional assets – including his significant investment into his soon-to-be ex-wife’s Skims label.

Despite the COVID19 pandemic, sales for Yeezy’s Adidas trainers kept growing, climbing by 31% to nearly $1.7bn (£1.5bn) in annual revenue last year and making Yeezy $191m (£136.7m) in royalties, according to a private document reviewed by Bloomberg.

An unaudited balance sheet of Kanye’s finances has also revealed that West has $122m (£87m) in cash and stock, while his entire music catalogue is worth $110.5m (£79m).