Kanye West is officially one of the richest people in the U.S., with a new report from Bloomberg stating the “Stronger” rapper is worth a whopping $6.6 billion dollars.
West, 43, earned a significant boost in profits due in part to his clothing brand Yeezy, which UBS Group AG values between $3.2 billion and $4.7 billion.
The Grammy winner also has $122 million in cash and stock tucked away, as well as a music catalogue valued at $110 million. The rest of his assets are valued at $1.7 billion.
Bloomberg also reports that Yeezy’s upcoming collaboration with Gap, set to hit stores this summer, “Could be worth as much as $970 million of that total.”
According to the deal West signed with Gap, it is a 10-year agreement where the rapper will be tasked to develop styles for men, women and children.
Adds the publication, they expect the line “to break $150 million in sales in its first full year in 2022.”
The deal doesn’t include footwear, as that department is covered with his collaboration with Adidas that runs until 2026.
West’s new net worth makes him the second richest African American, putting him behind private-equity giant Robert F. Smith — who is worth $7 billion.
Neither Adidas, Gap, UBS or representatives of the “Runaway” rapper respond to request for comment.
By Megan Stone
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