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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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Television

Queens – S01E01 – 1999

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ABC launched it’s latest Primetime TV show, “Queens“. The show stars Brandy, Naturi Naughton, Nadine Velazquez, and my favorite female rapper, Eve.

The show starts out giving you a brief look back at where the group started at and where they are present day. The writers do a good job with exploring each ladies personal journey, without putting too much in the first episode. However, comparing the show to other hot shows out right now, the acting leaves a bit to be crazy over. It kinda falls into the category of… “if there’s nothing on“, which right now isn’t the case, as the show is on the same time as the long awaited “Impeachment“.

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Music

Mary J. Blige Takes the stage for AdWeek x Youtube Concert at The Apollo

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Mary took the stage at AdWeek x YouTube’s concert, and all that I can say is “I Can’t Wait“! I can’t wait to see Mary in concert, it’s been a while since I’ve taken in a good show!

Mary journeyed through her hits like Real Love, I Can Love You, Just Fine, Family Affair, and more! Check out the Queen of Hip Hop/Soul as she reminds everyone why she’s The One!

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Music

Adele is coming…

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Adele took to her social media outlets earlier today to announce that her new single, “Easy On Me“, will be released next week.

As big as Adele is, it be foolish to say nobody cares, but one thing that always has baffled me is why do we get over hyped for blue eyed soul? Don’t get me wrong, Adele has made so much great music in the past. Her body of work is solid and stands alone. She has earned her spot. But as black people, why do we give blue eyed soul such a high praise, but in return have a hard time promoting and supporting our own people, the originators of this sound?

Please don’t get me wrong, there’s absolutely nothing wrong with enjoying the music of the blue eyed soul singers like Adele, Sam Smith, and Justin Timberlake. I just hope that the original soul singers can get that kind of love and respect as well.

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