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Kanye West isn’t actually the richest Black person in America, according to Forbes

Kanye West isn't actually worth $6.6 billion, Forbes reveals
Kanye West isn’t actually worth $6.6 billion, Forbes reveals

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.’

Forbes estimates he’s worth around $1.8 billion (Picture: Getty)

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.

Bloomberg initially reported that his business venture Yeezy was worth between $3.2bn and $4.7bn (Picture: Getty)

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.’

The rapper is in the midst of divorcing wife Kim Kardashian after six years of marriage. (Picture: Getty)

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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