Kanye West’s net worth has been increasing dramatically since he started his sneaker and clothing Yeezy brand venture.
Yeezy sealed lucrative partnership deals with high-profile brands such as Adidas AG and Gap Inc. last year.
According to Bloomberg, UBS Group AG estimated that West’s Yeezy brand is worth between $3.2 billion and $4.7 billion.
Kanye West’s net worth in 2021 has soared to $6.6 billion
West’s net worth has soared to $6.6 billion in 2021, thanks to the lucrative deals that Yeezy has conducted with top designer brands.
In 2020, West, 43, who maintains full creative control over Yeezy, signed a 10-year deal with Gap to sell clothing under the Yeezy Gap label.
The apparel line is set to hit stores across the country in the summer of 2021. Yeezy Gap is expected to make more than $150 million in sales in 2022 alone.
The apparel line will include men’s, women’s, and children’s clothing. West has a separate deal with Adidas that covers footwear.
Bloomberg reports that according to UBS Group AG, the Gap deal alone “could be worth as much as $970 million” of Yeezy’s total value.
West also has $122 million in cash and stock, a music catalog worth an estimated $110 million, in addition to other assets worth $1.7 billion.
Forbes declared West a billionaire back in April 2020
Bloomberg’s report comes after Forbes first announced in April 2020 that Kanye was worth $1.3 billion. But West claimed at the time that Forbes underestimated his actual worth. He claimed his net worth was $3.3 billion.
Bloomberg’s current estimate of $6.6 billion represents a huge leap in the rapper’s net worth since the Forbes report.
West and Kim Kardashian are reportedly divorcing
The latest news about West’s soaring net worth comes amid reports that his wife of seven years, Kim Kardashian, filed for divorce.
West and Kardashian tied the knot in a lavish wedding ceremony back in May 2014.
The couple shares four children: 7-year-old North, 5-year-old Saint, 3-year-old Chicago, and Psalm, whose first birthday comes on May 9.
West and Kardashian are reportedly discussing the terms of their divorce. They are seeking joint custody of their children.
Sources close to the couple said their relationship had been under strain for some time and that Kardashian struggled with West’s erratic, unpredictable behavior, and frequent outbursts.
West’s public comments during his failed presidential campaign insinuating that he and Kardashian had wanted to abort their first child, North, upset Kim, sources revealed.