Kanye West Net Worth Increases To $6.6 Billion
American rapper Kanye West is now reportedly worth a staggering $6.6 billion.
The 43-year-old rapper’s sneaker and clothing business now supported by Adidas AG and Gap Inc, is valued between $3.2 billion and $4.7 billion.
According to Bloomberg, the music star’s collaboration with Gap is set to hit stores this summer and “could be worth as much as $970 million” of the brand’s value.
Last year, the Grammy winner signed a 10 year agreement to design and sell apparel under the Yeezy Gap label which has been valued at between $3.2 billion to $4.7 billion by the Swiss investment bank UBS Group. As much as $970 million of that total is tied to West’s new clothing line for Gap (under the Yeezy Gap label) that the retailer has slated for release by July.
West’s longstanding deal with Adidas has been the most lucrative part of his business endeavors to date, with Yeezy sneakers continuing to fly off of shelves; according to the documents, the brand grew 31% to nearly $1.7 billion in annual revenue last year, netting Yeezy royalties of $191 million. West has been in business with the company since 2013, with their current deal running through 2026.
The father of four raked in an additional $110 million from his extensive catalog of music and has another $1.7 billion in other assets.
He also accrued $122 million in cash and stock.
It would be recalled that in 2020, Forbes named West as one of the highest paid celebrities of the year.