Kanye West Now Worth Estimated $6.6B Thanks to Lucrative Gap, Adidas Deals
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.
Amarijit Blazes A Trail with his debut EP ‘Set In Stone’
2020 was a rough year that most would want to relive, but while most of the world was uncertain of what’s to come during the Covid-19 pandemic, rapper Amarijit found a way to make quarantine worth his while. The young emcee was 12 years old at the time when the world truly stopped everyone in its tracks but his love for music , really helped him get through the time away from his friends. While spending more than normal time at home, music became his refuge, but little did he know how much this would truly change his life. As Ethan aka Amarijit listened to some of his favorite acts like Tana, Slump6s, SoFaygo, Yung Fazo & Sgpwes. The music started to inspire him to work on his own skills as a rapper. As the rising star continued to work on his craft recording his rhymes on his phone, he realized it was time to actually let the world hear his music. Amarijit decided to release some of his freestyles to SoundCloud just for fun but slowly but surely this was becoming more than just a hobby.
Within a years time he continued to create and collaborate with others which led to hun dropping more music but this time on streaming platforms. As his skills continued to develop, his sound was truly becoming a breath of fresh air that set him apart of the rest of todays rappers. Now the gifted teen was really ready to give his growing audience something to vibe with as he released multiple buzz worthy singles including fan favorites ‘Danger Zone’, ‘Pacct’ and ‘FixMyself’. As his music continued to make some waves online, he decided to get back in the studio and finally put together a project with help from producer Corey Cutz. The two worked diligently in the studio and after a month of hard work Amarijit finally felt ready to finalize his 5 track EP entitled ‘Set In Stone’.
The debut project recorded at the infamous Quad Studios in Times Square was truly a labor of love as he put his heart into every track, which comes through on the record once u press play. At first listen his own engineer was taken back at how precise and professional he was for a 14yr old who was just starting out. His determination in the booth to get the songs just right was reminiscent of season veterans that have come before him. Now it’s safe to say that after listening to the project it was clear that he drew inspiration from multiple genres of music because each song are truly a standout in its own right.
When asked about the project the triple threat spoke about his love for Afro Beatz which is apparent on the track ‘She Wan Mi Love’ which is sure to be in heavy rotation. The colorful track which mixes Afro Beatz and Soca was inspired but some of his favorite acts including Burna Boy, Rema & Wiz Kid who are all blazing their own trail which he ultimately plans to do as well. With ‘Set In Stone’ being his declaration to his commitment to music it’s clear to see that this shining star is only gonna get better as time goes on, so keep an eye out for Amarijit who is sure to become a household name. Make sure to stream & download his debut EP now available on all music streaming platforms.
LongLiveCZAR steps into the spotlight with ‘Sicario’ + ‘Wet’
LongLiveCZAR has truly made a name for himself over the years but if this one isn’t that familiar, then you might recognize him as Lil C. The South Central native was truly born to be a star and never in his wildest dreams could he imagine how far his gift would take him. Growing up music & dance went hand in hand for young Christopher who grew up listening to the greats like Smokey Robinson, Harold Melvin & The Blue Notes, Frankie Beverly & Maze, Bobby Brown, NWA, MC Hammer & Ice Cube. But although he grew up in the hood, his dreams were always bigger than his surroundings and studying these greats, was always a beautiful distraction from every day life. His passion for dance is what truly changed everything for him after famed photographer/director David LaChapelle turned the camera lens on him and others in the critically acclaimed documentary ‘RIZE’. This breakout film was the beginning of his world changing as one of the creators of Krump which became one of the world biggest dance craze after the movie was released. The Krump movement in itself took Lil C all over the world which only proved that he was destined to be a star.
His gift for dance would ultimately put him on some of the biggest stages in the world working alongside superstars like Missy Elliott, Ciara, Christina Milian, Madonna, Gwen Stefani, J-Lo, Black Eye Peas, Eve, Chris Brown, Neyo, Usher, Omarion, Soulja Boy, Nelly, 50 Cent, The Game, Blink 182, Elton John and Ginuwine. When he wasn’t on center stage he was on the big screen as a dancer featured in major films including ‘Stomp The Yard’, ‘Bring It On Again’, ‘Center Stage: Turn It Up’ and ‘You Got Served: Beat the World’. Now if that wasn’t enough , CZAR really became a household name after becoming a guest choreographer and judge on the hit FOX dance competition series ‘So You Think You Can Dance‘. His gift continuously opened doors he never dreamed of , but his passion for music was always something he really wanted to tap into. So it was only right that put in the work to collaborate with other artist as a songwriter behind the scenes and within no time he was creating magic with acts including Anderson Paak, Murda Beatz, Chris Brown, Jhené Aiko, Omarion, Kid Ink, Kehlani, French Montana, Anatti, Tee’Flii, Rayven Justice, Tank, Micah and Danileigh.
The success of co-writing Omarion’s Top 5 hit ‘Post To Be’ along with Chris Brown & Jhené Aiko was just the push he needed to step out on his own and take center stage performing his own music. In late 2018 he began to heat things up with the release of his buzz worthy singles ‘Sicario’, ‘Oh My!’, ‘DayDream’, ‘Violated’, ‘Blue Summer’ and ‘Bishop’ . But as he really began to make major moves touring and promoting the records, the world shut down due to the Covid-19 pandemic. But for what many would see this as a roadblock , CZAR saw this as an opportunity to get back in the studio and create some of his best work along with visuals for his highly anticipated visual project. Now he’s back and better than ever with 2 new video for his tracks ‘Sicario’ and ‘Wet’ which is sure to heat the summer up as fans anxiously wait on more to come from the triple threat who is ready to shine in the spotlight on his own terms.
Keep up to date with LongLiveCZAR on social media
Nino Khayyam heats the summer up with ‘I Don’t Really Care’ & ‘Melody Of Felonies’
Rising rap star Nino Khayyam is truly stepping into the spotlight on his own terms. The Brooklyn native who sites acts like Rakim, Big Daddy Kane, Special Ed, De La Soul and Nas as some of his earlier inspirations is definitely on his way to becoming a staple in Hip-Hop just like them. In the past year he really made some waves with the release of his single ‘We Are Floyd’ as he teamed up with rapper U’kno Tha Don for the inspirational track which truly became a movement of its own during Black History Month. The record in support of George Floyd and the other victims of police brutality took off in such a positive way, which put Nino in rooms with people he never could’ve imagined as they worked alongside the National Action Network.
Now if you told this young kid who also grew up in Morocco that he would one day be living his dreams as a rapper, he would believe it because all he saw on tv was that you’re supposed to become a lawyer or some type of doctor to truly be successful. But even though he had plans of being a lawyer, those plans didn’t really pan out as well. Growing up he always wanted to take music serious but never gave it his all due to wanting to make ends meet as most people do so as many times as he would cut records in the studio, he would ultimately pull back from it and focus on taking care of his growing family as the years went on. Within time after trying to really pursue music pushing his demos to execs at Def Jam and Murder Inc he realized that maybe he would have to take a different approach on things.
As time went on Nino decided to really take his craft seriously and release singes independently like ‘Fuck Widdah Noccca’,’Crooklyn Dodgers’, ‘Dont Care, ‘Fear’& ‘HEART 8L33DIN’ continued to garner heavy buzz for him. As his fanbase slowly but continued to grow his fan favorite mixtapes ‘Valentine’s Day Massacre Compilation’, ‘Medina Memoirs’, ‘Communion’ and ‘Cocaine Noire’ were just what he needed to really make some noise. Now he’s back with his latest singles ‘I Don’t Really Care’ & ‘Melody Of Felonies’ which is just a taste of so much more to come from his upcoming full length project. Check out his two new videos as he continues to drop more visuals just to heat the summer up.
03.25 – Latto – 777 (album)
03.25 – Kanye West – Donda 2 (All Platforms)
TBA – Cardi B – TBA
TBA – Monica – Trenches
Follow us on Twitter
Music6 years ago
Soul Train Awards 2017 Coverage
Music6 years ago
Xscape Kicks It At Good Morning America
Celebs4 years ago
Album Review: Chris Brown – Indigo
Celebs2 years ago
Another Day, Another Trey Songz Altercation.
Featured6 years ago
“Moesha” Cast Reunites On “The Real”
Featured6 years ago
Usher, Jermaine Dupri, Beyonce, Jhene Aiko Step Out For Kelly Rowland’s Halloween Party!
Music6 years ago
Remy Ma Aggressively Trying To “Wake Me Up”
Music6 years ago
BET Her Fights: Breast Cancer – Performances