Kanye West becomes richest man of colour in US history

Rapper's net worth now surpasses Robert F Smith and Michael Jordan's.

Kanye West has become the richest black man in US history, with an estimated net worth of about $6.6bn, according to Sky News.

As reported by Bloomberg, the new total makes Kanye much richer than the likes of investor and businessman Robert F Smith and basketball legend Michael Jordan.

After claiming to have been nearly $53m in debt just three years ago, the rapper and fashion tycoon became a certified billionaire with the help of his successful apparel and trainer brand, Yeezy, last year. His multi-year contract with clothing retailer Gap also helped him climb the financial ladder.

According to Bloomberg, however, West's Yeezy and deals with Gap and sportswear giant Adidas are worth $3.2bn to $4.7bn. While the new Yeezy Gap line, set to be released later this summer, is expected to be worth more than $970m.

Being the sole owner of the Yeezy Company, much of West's personal net worth comes from there. Whereas, the rest of his wealth comes from the $1.7bn that he earns from additional assets – including his significant investment in his soon-to-be ex-wife's Skims label.

Reality star Kim Kardashian – who herself became a billionaire last summer – recently filed for divorce from the Gold Digger rapper after nearly seven years of marriage.

TMZ said sources described the divorce as "amicable", saying Kardashian West is asking for joint legal and physical custody of the couple's four children, which West is "fine" with.

But despite the Covid-19 pandemic, sales for Yeezy's Adidas trainers continued to grow, rising by 31% to nearly $1.7bn in annual revenue last year. This makes Yeezy $191m in royalties, according to a private document reviewed by Bloomberg.

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