Kanye West claims he's worth $5 billion after striking Gap-Yeezy deal


  • Kanye West now says his net worth is $5 billion, up from $3.3 billion, after inking a decade-long Yeezy deal with Gap.
  • Forbes last estimated his net worth to be $1.3 billion, though the publication noted West had shown them financial documents claiming it was over $3 billion, but it has yet to revise its estimate following the Yeezy-Gap deal.
  • Visit Business Insider’s homepage for more stories.

Kanye West says his deal with Gap nearly doubled his net worth.

West made the claim on a September 1 episode of ‘Cannon’s Class,’ telling podcast host Nick Cannon that his net worth is now $5 billion.

“So look, this year it was simple,” said West. “I was on the Bloomberg list… [and] they finally recognized that my net worth at that time was $3.3 billion. And then my net worth almost doubled after I did the Gap deal to $5 billion.”

West was absent from the Forbes Billionaires 2020 list earlier this year, but the publication has since estimated his net worth to be $1.3 billion, though the publication noted West showed them financial documents claiming he was worth $3 billion.

Early in the conversation, West said he had been “intentionally snuffed” from the Forbes Billionaires list in the past because he didn’t become a billionaire in a traditional way. West has also claimed that Forbes will not include him on the list due to his skin color, a claim he has made in the past. A Forbes spokesperson was not immediately available to comment on West’s statements.

Neither Forbes nor Bloomberg appear to have updated their net worth estimates of West yet to reflect the impact of the 10-year Gap deal on his net worth.

Business Insider has reached out to West’s representatives for further clarification and details regarding the $5 billion claim.

Although West is best known for his music, most of his wealth comes from his Yeezy brand, which he has sole ownership of. 

The Gap deal marks a new beginning for the retailer, which has struggled in recent years. When the deal was announced, Gap’s stock rose by 42%, adding more than $1 billion to its market cap. Since the announcement of the partnership, West has dropped some hints on his Twitter account about the new fashion line.

 

West and Cannon covered other topics in the 45-minute interview, including West’s ‘Sunday Service’ series, mental health, and architecture.

This is the first high-profile interview for the podcast series since Cannon made some controversial statements last month. 

In a July episode of the podcast, Cannon said that Black people are “the true Hebrews” during an interview with rapper and spoken word artist Richard Griffin. The statements led to Cannon being accused of being anti-Semitic, and he was dropped from his longtime deal with ViacomCBS.

You can watch the full interview between West and Cannon below.

 



Source: Kanye West claims he’s worth $5 billion after striking Gap-Yeezy deal

By bsmith@businessinsider.com (Barbara Smith)

Techylawyer and its authors do not claim to have written this article, we acknowledge the works of the original author

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