‘Yeezy, the Newest Billion Dollar Baby’
Updated: May 3, 2020
The last time Mr. West took to the internet to speak up about his financial situation, things were not looking so good. In fact, the owner of the Yeezy brand declared that he was $53 million in debt. He even begged the founder of Facebook himself, Mark Zuckerberg, for a billion-dollar loan. Now, his situation is more than stable, as he joins Jay Z in the list of billionaire rappers.
From what Kanye states, he has been a billionaire for more than a year, but he could not provide Forbes with the necessary financial statements to prove his net worth growth. He adds on by claiming that it is actually $3.3 billion but people at Forbes do not know how to count. Let’s dive into how the rapper/preacher went from being in debt to creating a billion-dollar empire.
Even though Ye is one of the most accomplished artists today, his music is not what made a billionaire. Indeed, the billi comes from his 100% ownership of his Yeezy brand. Every time a pair of shoes is released, the product is sold out in a matter of seconds to be later resold triple, if not quadruple the original price. The partnership is very lucrative for Ye as Adidas only handles the distribution of the shoes and does not own shares of the brand.
The fact that a man such as Kanye, who came from the bottom and made it this far,
proves that young artists always have to believe in themselves and put the work in consistently. Remember that you can do anything you put your mind to. Mr. West demonstrated it perfectly. Hopefully, he will use a bit of that Yeezy money to invest into community growth and the promised Yeezy City in Wyoming. Congrats Kanye!