London Celebrity Sightings - October 10, 2020

Source: Neil Mockford / Getty

Kanye West overcame poverty and now he’s swimming in cash — thanks to Adidas and Gap.

The iconic hip hop producer turned artist is reportedly worth $6.6 billion, according to reports. Five years ago, West said he was $53 million in debt. Now, he’s the richest black person in U.S. history.

A majority of his wealth comes from his sneaker and apparel business, Yeezy, which is now in partnership with Adidas and Gap Inc., the business is valued between $3.2 billion and $4.7 billion by UBS Group.

The value of the new Gap collaboration with Yeezy, which is due to hit stores this summer, “could be worth as much as $970 million of that total,” Bloomberg reported, citing a bank estimate. A 10-year agreement signed by West to design and sell clothes under the ‘Yeezy’ Gap label last year.

The 43-year-old West also reported $122 million in cash and stock on-hand, along with $110 million from his music catalog. He claims $1.7 billion in other assets, including soon-to-be ex-wife Kim Kardashian’s SKIMS business.

The $6.6B figure is eight-and-a-half times more than his estranged wife’s net worth of a reported $870 million as of October.

The couple share four children together and will be entangled in the biggest divorce in US history. West believes his failed 2020 presidential run cost him his marriage to Kardashian.

Back in April 2020, “West claimed his net worth was more than $3 billion — which would make him wealthier than other famous billionaires such as Oprah Winfrey,” according to Forbes. Now, he is part of the richest people in the world at No. 397.

Kanye West is worth $6.6 billion— the richest Black man in US history  was originally published on wbt.com