Kanye West is as undeniably successful as he is controversial. Consistently making the headlines for his wild success in the areas of music and fashion, the musical sensation has been known to push the boundaries when it comes to the calculations of his success. It was just last year that he formally disputed Forbes’ summary of his net worth, and it seems this issue has reared its ugly head yet again. Media outlets have recently reported Kanye West’s net worth as being an astounding $6.6 billion dollars, and subsequent reports analyzed these earnings to have established him as being the richest Black man in America. This has proven to be incorrect.
Reports issued by Forbes indicate that the previously declared $6.6 billion dollar net worth valuation was severely ballooned and was based on future earnings, which is an incorrect assessment. They’ve declared his actual net worth as being just $1.8 billion.
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When it was revealed that ‘new documents’ now peg Kanye’s net worth as being $6.6 billion, many eyebrows were raised. It was at this time last year that he launched an official dispute with Forbes, who at that time had declared his net worth to be $1.3 billion. At that time, Kanye refuted the publication, declaring his net worth as being $3.3 billion, and loudly complaining to the media sources that he had been wronged.
Given the recent dispute and the significant jump in declared wealth over the course of just under a year, the recent reports declaring the massive $6.6 billion fortune have been highly scrutinized.
Forbes has come forward to lend some clarity to this situation, and has officially declared that the $6.6 billion figure was grossly misleading. This valuation was generated based on assumed earnings from Yeezy Shoes and Yeezy Gap. In actuality, Yeezy Gap has not yet launched and no profits have been established whatsoever.
While both brand are most definitely positioned to reach exponential sales values, the fact remains, these are projections, and not actual earnings. This can’t be accurately calculated when evaluating a ‘current’ net worth, as these numbers have not yet been achieved.
There remains the possibility that the market will shift, or perhaps fierce competition will be introduced. Endless possibilities exist when discussing the unknowns of the future, and none of this is relevant to the status of Kanye’s wealth at this current time.
For the moment, Forbes reiterates that Kanye West’s accurate and current net worth is $1.8 billion. As far as reaching the status of the richest Black man in America, Kayne still has a ways to go. That title is currently held by Vista Equity’s Robert F. Smith who is worth an estimated $6 billion.
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Sources: Inside Hook, Black Chronicle, Forbes
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