In April 2020, popular American business magazine Forbes officially declared rap superstar Kanye Omari West, also known as Kanye West a billionaire, 4 years after the rapper famously took to Twitter in 2016 to announce his $53 million debt.
Kanye West Bio
Born in Atlanta on June 8, 1977, and raised in Chicago, Kanye is considered a quintessential creative because he is: a rapper, singer, songwriter, record producer, businessman, and fashion designer.
He shot to fame in the year 2000, when he began to produce for artists on Roc-A-Fella Records. West came to achieve recognition and is often credited with revitalizing Jay-Z’s career with his contributions to the rap mogul’s influential 2001 album The Blueprint. The Blueprint is consistently ranked among the greatest hip-hop albums, and the critical and financial success of the album generated substantial interest in West as a producer.
Despite his success as a producer, West’s true aspiration was to be a rapper. Though he had developed his rapping long before he began producing, it was often a challenge for West to be accepted as a rapper, and he struggled to attain a record deal.
Kanye’s breakthrough came a year later on October 23, 2002, when, while driving home from a California recording studio after working late, he fell asleep at the wheel causing a head-on crash with another car. The crash left him with a shattered jaw, which had to be wired shut in reconstructive surgery. The crash broke both legs of the other driver.
The accident inspired West; two weeks after being admitted to the hospital, he recorded a song at the Record Plant Studios with his jaw still wired shut. The composition, “Through the Wire”, expressed West’s experience after the accident, and helped lay the foundation for his debut album.
Though he is regarded as one of the greatest rappers of all time, Kanye is also highly regarded as a fashion icon. Early in his career, West made clear his interest in fashion and desire to work in the clothing design industry.
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He became the first non-athlete to be given a shoe deal with Nike. In January 2009, he introduced his first shoe line designed for Louis Vuitton during Paris Fashion Week. West’s Yeezy shoe line is considered one of the most influential sneaker brands in the world.
Though recently divorced from reality TV star Kim Kardashian, they have four children.
Kanye West Net Worth
According to Forbes Magazine, Kanye West is officially worth $1.8 billion. But how did the enigmatic Chicago rapper got there? This is how the famous American rapper made his fortune after going bankrupt.
West founded the record label and production company GOOD Music in 2004, in conjunction with Sony BMG, shortly after releasing his debut album, The College Dropout. West, alongside then-unknown Ohio singer John Legend and fellow Chicago rapper Common, were the label’s inaugural artists.
On March 30, 2015, it was announced that West is a co-owner, with various other music artists, in the music streaming service Tidal. The service specializes in lossless audio and high-definition music videos.
It is reported that most of Kanye’s money comes from Yeezy earning $140 million from Yeezy sales in 2019 alone.. The Yeezy shoe brand is a complicated asset. West owns 100% of it. But it’s functionally tied to Adidas, which produces, markets, and distributes the shoes.
Yeezy is now worth between $3.2 billion to $4.7 billion, primarily due to the brand’s deal with German sportswear giant Adidas. The Yeezy-Gap deal is expected to be worth more than $970 million. West is the sole owner of the Yeezy brand.
The rest of the rapper’s wealth, $1.7 billion comes from his significant investment in soon-to-be-ex-wife Kim Kardashian’s Skims shapewear line, and he has $122 million in cash and stock, along with $110 million from his music catalog.