Entertainment
Kanye West isn’t actually the richest Black person in America, according to Forbes
Forbes has denied reports about Kanye West’s finances, claiming he was the richest Black man in America.
The rapper was reported to be worth an estimated $6.6billion (£4.7bn) by a slate of publications earlier this week.
However, in a statement issued on Thursday, US business magazine Forbes has said that the sky-high claims of the 43-year-old wealth are simply ‘not true’.
It read: ‘On Wednesday, multiple outlets reported that Kanye West is the richest Black person in America, worth as much as $6.6 billion.
‘The news comes after Bloomberg reported that his sneaker brand Yeezy – as well as Yeezy Gap, which has yet to sell one item of clothing – have a combined value of as much as $4.7 billion.
‘The publication mentioned, without going into full detail, an additional $1.7 billion in assets. It’s not true, based on our calculations. Forbes estimates he’s worth less than a third of that, or $1.8 billion.’
The statement continued: ‘That’s a big jump from last May when Forbes first pegged his net worth to be $1.3 billion, but nowhere near as much as the purported $6.6 billion.’
It was added: ‘Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., worth an estimated $6 billion, while Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world.’
A day earlier, Bloomberg reported that his business venture Yeezy was worth between $3.2bn (£2.3bn) and $4.7bn (£3.3bn) by UBS Group AG.
Kanye is said to have $122m (£87m) in cash and stock and $110m (£79m) from his extensive music catalogue spanning over 20 years, as well as $1.7bn (£1.2bn) in other assets.
Interestingly, this includes a stake in his estranged wife Kim Kardashian’s Skims brand.
Last April, Kanye declared himself a billionaire and said his net worth had soared to $3bn (£2.1bn). However, Forbes countered that his fortune was much lower than claimed.
In typical Kanye fashion, he then texted the publication: ‘It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count.’
Despite not actually taking over the title of the richest Black man in American, the All Falls Down hitmaker has certainly come a long way since 2016 when he claimed to have racked up a $53m (£38m) debt.
On the personal front, the musician is currently in the midst of divorcing wife Kim Kardashian after more than six years of marriage.
Metro.co.uk has contacted a representative for Kanye West for comment.
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