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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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Celebs

PHOTOS: Teyana Taylor Shoots New Film, “A Thousand And One”

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Teyana was spotted in Harlem today, shooting her new film, “A Thousand and One”. The wife and mom of two is reportedly expanding her resumé according to Deadline and will star in a feature film titled A Thousand And One. The movie is reportedly produced by Sight Unseen, Makeready, and Lena Waithe’s Hillman Grad Productions.

The film follows Inez (Taylor), who kidnaps six-year-old Terry from the foster care system,” reports Deadline. “Holding onto their secret and each other, mother and son set out to reclaim their home, as well as their identity and stability, in a rapidly changing New York City.

Filming has reportedly already begun in the Big Apple, but the remainder of the cast has yet to be shared. Lil Kim has repeatedly expressed that she would like for Taylor to portray her in a biopic about the rapper’s life, but we’ll have to wait to see if Kimberly Jones gets her wish.

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Celebs

Rico is Ready to take You to the Next Level

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Marketing & branding manager Rico Creed is a natural born hustler in every sense of the word. The New Orleans native always knew that with dedication & determination anything was possible. Growing up Master P, Juvenile , Lil Wayne & Curren$y who all came from the same area was just the inspiration he needed to pursue his own career. With that same drive & passion for his own music he landed him a record deal in 2012 , where he ultimately began working alongside Roc Nation’s Lawrence Parker. As Rico made a name for himself on the road opening for major acts including August Alsina , Kidd Kidd & Kevin Gates he slowly but surely learned how important branding & marketing was for success.

As he quietly put the artist side to rest , Rico decided to step behind the scenes teaming up with other artist helping them with their brand. Teezy Baby was just one of the first he helped to gain over 200K social media followers and amassed over half a million plays on multiple music platforms. From then on helping acts like Tripped Redd , Yung Tory , Nick Nack Patti Whack & more have proven to be the fuel he needed to start his own label & management company. Now with ID Management, Rico is ready to work with the next best thing and all it takes is the right talent for him to make things truly happen.  If you think you got that star power , follow him at @SayRico via Instagram to see if you got what it takes to become the next big star.

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Music

BET Awards 2021 Nominations are in!

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The “BET AWARDS” continues to showcase the best, brightest, and most beautiful aspects of the Black experience, while elevating the culture and driving people to be more engaged in social justice and change. This year is no different. After going virtual last year, the 2021 BET Awards is back with a live show audience at the Microsoft Theater in Los Angeles and will air LIVE on Sunday, June 27 on BET at 8 pm ET/PT. 

ALBUM OF THE YEAR
AFTER HOURS – THE WEEKND
BLAME IT ON BABY – DABABY
GOOD NEWS – MEGAN THEE STALLION
HEAUX TALES – JAZMINE SULLIVAN
KING’S DISEASE – NAS
UNGODLY HOUR – CHLOE X HALLE

BEST COLLABORATION
CARDI B FT. MEGAN THEE STALLION – WAP
DABABY FT. RODDY RICCH – ROCKSTAR
DJ KHALED FT. DRAKE – POPSTAR
JACK HARLOW FT. DABABY, TORY LANEZ & LIL WAYNE – WHATS POPPIN (REMIX)
MEGAN THEE STALLION FT. DABABY – CRY BABY
POP SMOKE FT. LIL BABY & DABABY – FOR THE NIGHT

BEST FEMALE R&B / POP ARTIST
BEYONCÉ
H.E.R.
JAZMINE SULLIVAN
JHENÉ AIKO
SUMMER WALKER
SZA

BEST MALE R&B / POP ARTIST
6LACK
ANDERSON .PAAK
CHRIS BROWN
GIVEON
TANK
THE WEEKND

BEST NEW ARTIST
COI LERAY
FLO MILLI
GIVEON
JACK HARLOW
LATTO
POOH SHIESTY

BEST GROUP
21 SAVAGE & METRO BOOMIN
CHLOE X HALLE
CHRIS BROWN & YOUNG THUG
CITY GIRLS
MIGOS
SILK SONIC

BEST FEMALE HIP HOP ARTIST
CARDI B
COI LERAY
DOJA CAT
MEGAN THEE STALLION
LATTO
SAWEETIE

BEST MALE HIP HOP ARTIST
DABABY
DRAKE
J. COLE
JACK HARLOW
LIL BABY
POP SMOKE

DR. BOBBY JONES BEST GOSPEL/INSPIRATIONAL AWARD
BEBE WINANS – IN JESUS NAME
CECE WINANS – NEVER LOST
H.E.R. – HOLD US TOGETHER
KIRK FRANKLIN – STRONG GOD
MARVIN SAPP – THANK YOU FOR IT ALL
TAMELA MANN – TOUCH FROM YOU

BET HER AWARD
ALICIA KEYS FT. KHALID – SO DONE 
BRANDY FT. CHANCE THE RAPPER – BABY MAMA
BRI STEVES – ANTI QUEEN
CHLOE X HALLE – BABY GIRL
CIARA FT. ESTER DEAN – ROOTED
SZA – GOOD DAYS

BEST INTERNATIONAL ACT
AYA NAKAMURA (FRANCE)
BURNA BOY (NIGERIA)
DIAMOND PLATNUMZ (TANZANIA)
EMICIDA (BRAZIL)
HEADIE ONE (UK)
WIZKID (NIGERIA)
YOUNG T & BUGSEY (UK)
YOUSSOUPHA (FRANCE)

VIEWER’S CHOICE AWARD
CARDI B FT. MEGAN THEE STALLION – WAP 
CHRIS BROWN & YOUNG THUG – GO CRAZY
DABABY FT. RODDY RICCH – ROCKSTAR 
DJ KHALED FT. DRAKE – POPSTAR 
DRAKE FT. LIL DURK – LAUGH NOW CRY LATER
LIL BABY – THE BIGGER PICTURE
MEGAN THEE STALLION FT. BEYONCÉ – SAVAGE (REMIX)
SILK SONIC – LEAVE THE DOOR OPEN      
 
VIDEO OF THE YEAR
CARDI B – UP
CARDI B FT. MEGAN THEE STALLION – WAP
CHLOE X HALLE – DO IT
CHRIS BROWN & YOUNG THUG – GO CRAZY
DRAKE FT. LIL DURK – LAUGH NOW CRY LATER
SILK SONIC – LEAVE THE DOOR OPEN
 
VIDEO DIRECTOR OF THE YEAR
BENNY BOOM
BRUNO MARS AND FLORENT DÉCHARD
COLE BENNETT
COLIN TILLE
DAVE MEYERS
HYPE WILLIAMS
 
BEST MOVIE
COMING 2 AMERICA
JUDAS AND THE BLACK MESSIAH
MA RAINEY’S BLACK BOTTOM
ONE NIGHT IN MIAMI
SOUL
THE UNITED STATES VS. BILLIE HOLIDAY
 
BEST ACTRESS
ANDRA DAY
ANGELA BASSETT
ISSA RAE
JURNEE SMOLLETT
VIOLA DAVIS
ZENDAYA
 
BEST ACTOR
ALDIS HODGE
CHADWICK BOSEMAN
DAMSON IDRIS
DANIEL KALUUYA
EDDIE MURPHY
LAKEITH STANFIELD
 
YOUNGSTARS AWARD
ALEX R. HIBBERT
ETHAN HUTCHISON
LONNIE CHAVIS
MARSAI MARTIN
MICHAEL EPPS
STORM REID
 
SPORTSWOMAN OF THE YEAR AWARD
A’JA WILSON
CANDACE PARKER
CLARESSA SHIELDS
NAOMI OSAKA
SERENA WILLIAMS
SKYLAR DIGGINS-SMITH
 
SPORTSMAN OF THE YEAR AWARD
KYRIE IRVING
LEBRON JAMES
PATRICK MAHOMES
RUSSELL WESTBROOK
RUSSELL WILSON
STEPHEN CURRY

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