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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

‘Run the World’ at Starz Adds Five to Season 2 Cast

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Tika Sumpter, Chris “Comedian CP” Powell and Isha Blaaker have been cast in recurring roles in Season 2 of Starz’s “Run the World” while Cree Summer and Ashley Blaine Featherson-Jenkins will guest star, Variety has learned exclusively.

The series follows a group of smart, funny and vibrant 30-something Black women who live, work and play in Harlem.

Sumpter plays Naomi, the biological mother of Amari (Ellie Reine) who has returned home from the Navy. With the assertiveness of a military officer, she immediately reclaims her position in Amari’s life, leaving Sondi (Corbin Reid) to question her place in this new family dynamic.

Comedian CP plays Preston Thurgood, the multi-millionaire creator of Prestify, who has no need to put on airs. His hilarious, down-to-earth personality is plenty to get Renee’s (Bresha Webb) attention; however, his lavish lifestyle certainly won’t hurt his case. Preston could give Renee everything she’s ever wanted, but she’s unsure if he’s the love of her life.

Blaaker plays Phillip Houston, Whitney’s (Amber Stevens West) business school rival who has returned from London fresh off a breakup of his own. His sexy British arrogance has Whitney flustered and their chemistry runs high. Now that they’re both single, Phillip is certainly interested.

Summer will play Dr. Monica Mitchell, the ladies’ wise and trusting new therapist. She allows Whitney, Renee and Sondi to pick up right where they left off with their retired therapist, Dr. Nancy. Dr. Monica’s direct, honest and personal approach allows the ladies to open up and navigate their relationship woes, as well as admit that they were kind of over getting advice from a white woman.

Featherson-Jenkins will guest star as India Blue, a beautiful, confident, cool and incredibly successful singer/songwriter/producer. India has been working closely with Jason (Jay Walker) and is now looking to move this “collaboration” into something more, despite Renee and Jason’s prior relationship.

Rachelle Williams-BenAry serves as showrunner and executive producer for Season 2. Lionsgate Television produces. Overseeing the series for Starz is senior vice president of original programming Kathryn Tyus-Adair, while senior vice president of television Jocelyn Sabo and director of television Maggie Leung oversee for Lionsgate.

Via Variety

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Music

Good Music Mothers Day Concert

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As part of the Mother’s Day Good Music Festival, SJ Presents an electrifying, all-star concert with New York’s hip-hop cultural icons representing the diverse flavors of New York – See JA RULE, ASHANTI, FAT JOE, REMY MA, and LIL’ MO as they come to Hulu Theater at MSG on Saturday, May 7, 2022, at 8 p.m. It’s time to get out and to some of the best. 
 
See hitmakers: Ja Rule (“Always on Time”), Ashanti (“Foolish”), Joe (“Lean Back”), Remy Ma (“Ante Up”), Lil’ Mo (“Superwoman”).

Four-time GRAMMY Award-nominated rapper and singer-songwriter Ja Rule has released six Top 10 albums, including Rule 3:36 and Pain Is Love. With those LPs and others, he’s earned a series of hit singles that made the Top 20 on the Billboard Hot 100 chart, including “Between Me and You” (with Christina Milian), “Ain’t It Funny” (with Jennifer Lopez), and three on which he collaborated with Ashanti: “Mesmerize,” “Wonderful,” and the GRAMMY-nominated No. 1 hit, “Always on Time.”

Singer-songwriter Ashanti, often referred to as the “Princess of Hip-Hop and R&B,” is known for vocals as sultry as they are sweet. Her debut album, Ashanti, won a 2003 GRAMMY for Best Contemporary R&B Album and spawned the smash hit single, “Foolish.” Since then, Ashanti has sold over 15 million records worldwide and produced more Billboard Hot 100 hits like “Rock Wit U” and “Rain on Me.” On her most recent LP, Braveheart, she continues her R&B journey, this time integrating touches of electro, trap, and urban pop.

Longtime friends and collaborators since the 90s, Fat Joe and Remy Ma will perform their solo hits and collaborations, including the GRAMMY-nominated “All The Way Up” single (Best Rap Performance and Best Song) and Joe’s #1 hit, “Lean Back.”

Tickets to see Ja Rule, Ashanti, Fat Joe, Remy-Ma, and Lil’ Mo are on sale now atTicketmaster.com and Ticketmaster Box Offices at Madison Square Garden, Radio City Music Hall, and Beacon Theatre.

Tickets are on sale now!

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Music

R&B Singer “Array” releases new song, “Hope He Can Fight”

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Up and coming singer Array is back on the scene with his latest R&B contribution, “Hope He Can Fight“. Check it out below.

Follow Array on Instagram

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