Forbes has responded to Bloomberg’s report on Kanye West’s net worth, which they estimated to be at $6.6 billion, which Forbes estimates is closer to $1.8 billion.
Forbes published a lengthy analysis on Bloomberg’s estimation, which looked more into Kanye’s Yeezy sneaker brand and his yet-to-be-released Yeezy collaboration with Gap. Bloomberg estimated that both were worth $4.7 billion, but Forbes states that Yeezy footwear sales hit $1.7 billion in 2020, which is around $1.5 billion net profit. Bloomberg also factored in $3 billion in future sales for the next five years, which Forbes says is hard to predict given the fickle sneaker market. When it comes to the unreleased Gap collaboration, Forbes points out that there have been no sales to base the valuation on.
Forbes estimated Kanye’s cash, real estate, and “toys” (artwork, jewelry, vehicles, furniture, livestock) at $160 million, his music catalogue at $90 million, and his stake in Kim Kardashian’s Skims shapewear company at $64 million.
Forbes explained that they based their numbers by taking “the most recent year’s licensing income and apply a multiple to it to account for the fact that this is an ongoing revenue stream.” They added that they did the same for the value of Jay-Z’s music catalogue and Donald Trump’s licensing businesses.
Forbes also pointed out that Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., with an estimated $6 billion net worth. Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world.