Sources close to Ye tell The Blast, Forbes is about to drop its latest Billionaires list, which of course, Ye is on. But, the legendary rapper and designer claims the projected number is in the $2 Billion range, and that is WAY too low.
We’re told Ye is worth somewhere in the ballpark of $7 Billion. As you know, Kanye has a massive deal with Adidas that makes up a large portion of his estate. Plus, he has another monster deal with GAP producing and designing clothing for the retail brand. Don’t forget, West is also one of the most successful musicians and producers in the business growing his wealth to even higher levels.
Kanye West Challenges Forbes’s Low Projection Of His Billionaire Status
So what gives you ask?
Well, the rapper believes Forbes is trying to “control and diminish him even at the cost of their own integrity.”
It should be noted, that Ye’s team is told that the methodology of determining someone’s net worth is partially based on “revenue from last year only,” and not the “enterprise value of long-term deals that are in place.” In other words, West believes he isn’t getting the whole picture taken into consideration for how valuable all of his deals are at the moment.
Ye’s team was given a heads up on the article being published and is not happy with the way or the amount which is being reported.
Kanye West: Yeezy’s Adidas and Gap Deals Are Worth BILLIONS!
As for the deals, Ye continues to enjoy a multi-year deal with Adidas for his ‘Yeezy’ brand. Plus, he partnered in June 2020 with Gap for a line of Yeezy clothing designed for the retail giant. According to reports, sales of the Yeezy Gap clothing hit $1 billion in the first year, and led to a higher-end line called “Yeezy Gap Engineered by Balenciaga.”
Luckily, the divorce won’t put him back anything on this list since the former couple’s prenup allowed for each party to keep the money they earned and brought into the marriage. The bottom line, is they are both very, very rich.
Ye Pulls Out Of Coachella Festival
The billionaire’s list comes on the heels of major news claiming the rapper has pulled out of the Coachella festival this year, including an appearance with Travis Scott. It’s unclear why Yeezy made the decision to back out of the festival, but it followed a controversial decision to cut him from the Grammys stage for comments he made online.
We broke the story, Ye’s team was told he would be pulled from his planned performance “due to what they deemed to be concerning online behavior.”
Our sources say the official Forbes list is supposed to go public in the next 24 hours.