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Kanye West Now Worth Estimated $6.6B Thanks to Lucrative Gap, Adidas Deals

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Kanye West is now worth a staggering $6.6 billion, as revealed in a new Bloomberg report and confirmed by a rep to Billboard.

According to a private document obtained by the outlet, Yeezy – West’s sneaker and apparel business with both Adidas and Gap – has been valued at between $3.2 billion to $4.7 billion by the Swiss investment bank UBS Group. As much as $970 million of that total is tied to West’s new clothing line for Gap (under the Yeezy Gap label) that the retailer has slated for release by July, part of a 10-year agreement the parties signed in June of last year.

The document further reveals that Gap, an ailing brand whose partnership with West represents a play for younger consumers, expects its Yeezy line to break $150 million in sales in its first full year in 2022 and envisions it surpassing a billion dollars in revenue within eight years, or even as soon as 2023 on the upside. West stands to profit handsomely in any event, as he retains sole ownership and creative control of the Yeezy brand and earns royalties on sales under the deal, with the rate increasing as the business grows. He’ll also receive stock warrants when the collection hits sales targets, with the highest set at $700 million, according to a securities filing.

West’s longstanding deal with Adidas has been the most lucrative part of his business endeavors to date, with Yeezy sneakers continuing to fly off of shelves; according to the documents, the brand grew 31% to nearly $1.7 billion in annual revenue last year, netting Yeezy royalties of $191 million. West has been in business with the company since 2013, with their current deal running through 2026.

An unaudited balance sheet of West’s finances, provided to Bloomberg by his lawyer, shows an additional $122 million in cash and stock and more than $1.7 billion in other assets, including an investment in his wife Kim Kardashian’s underwear label Skims (Kardashian filed for divorce in February).

West’s music catalog is worth another $110.5 million, according to a 2020 valuation by Valentiam Group cited by Bloomberg.

The numbers revealed today represent a decidedly sharp turnaround for West, who in 2016 claimed to be $53 million in debt; at the time, he also took to Twitter to implore Facebook founder and CEO Mark Zuckerberg to invest $1 billion in his work. That was before West himself was named a billionaire by Forbes, which estimated his net worth at $1.3 billion in April 2020.

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Music

Aaron Fresh Premieres ‘ Tabanca ‘

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R&B showstopper Aaron Fresh has come a long way from when he was first introduced to the word back in 2010. The former Teen heartthrob made a huge splash with his Def Jam debut singles ‘Spending All My Time’ & ‘Dirty Girl’ which was in heavy rotation across BET, MTV, VH1 & Nickelodeon.  The Trini native was truly born to do this and as a kid watching some of his idols like Michael Jackson, Usher , Chris Brown & Machel Montano was all the inspiration he ever truly needed. When Aaron hit the stage his electrifying performances compared him to the greats the came before him which is exactly why Nick Cannon and so many others saw the star power in him. In no time he was co-hosting ‘The Night Life’ alongside Nick on Nickelodeon where the also gave him the opportunity to become a special celebrity correspondent on Teen Nick. It was clear that his star was steady on the rise, but as label politics changed his time at Def Jam was over, but that only fueled him to continue his success as an indie artist. Over the years he’s also found success as a songwriter working with K-Pop stars EXO and NU’EST which kept him fulfilled, but his fans were ready for him to return to music. Now he’s back and better than ever with the release of his latest single ‘Tabanca’ as he teamed up with Ronnie Young Jr and Micky Monday on the track. The buzz worthy single is just the re-introduction he needed to show the world his new and refreshing sound. Watch the accompanying video for the track which is only just a taste of so much more in store.

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Jay Z, Mary J. Blige, 50 Cent, Dr. Dre, Kendrick Lamar, Eminem, Snoop Dogg are now Emmy Award Winners!

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The Super Bowl half time show has a history of being Emmy nominated, and even winning a couple in the design and lighting category. However, after Roc Nation has taken control of the show, they have landed their very first win in the Outstanding Variety Special category.

This win has given the Hip Hop headliners Emmy Award Winners. Also included in this win are Desiree Perez, Dave Meyers, Dionne Harmon, Jesse Collins, and Aaron B. Cooke.

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Music

CeCe Dai brings the heat with ‘Summer Love’

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Triple Threat CeCe Dai is back and better than ever with the release of her latest single ‘Summer Love’. The singer/songwriter who hails from Los Angeles,CA always dreamed of one day becoming an artist and now she is finally coming into her own as rising star. Growing up singing in church , it was clear that she had a passion for music, but little did she know how far it would take her. Now of course she studied the greats like Whitney Houston, Chaka Khan , Anita Baker, Lauryn Hill, Brandy, Kim Burrell, Beyoncé and Jazmine Sullivan so you should already know that she takes her craft very serious. Over the years after performing in different groups and singing back up for other artist, it was clear to her that being a solo act was truly what her heart desired. The journey wasn’t always easy and there were many road blocks , but when the Covid—19 pandemic shut the world down she knew that this was her time to truly focus on her music.  Within time she dropped not one by two buzz-worthy singles ‘Love Again’ and ‘ Cold World’ which definitely were in heavy rotation as her fanbase slowly but surely continued to grow. As listeners gravitated to her edgy mix of new and classic r&b , it was clear that she had to give them more of what they been waiting for. Now she’s back with her single ‘Summer Love’ produced by Johnny Lee George. The feel good record co written by Dale Garcia & Cindy Figueroa along with CeCe is sure to be in heavy rotation as she continues to bring a fresh new sound to r&b. Watch the premiere of her scorching hot new video directed Francisco Lopez & Augustine Zepeda as she gives fans just another taste of so much more to come.

Follow CeCe Dai on social media
Instagram : @Iam.CeCeDai
Twitter : @IAmCeCeDai

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