No, Kanye West is not the richest black person in America: Forbes

Outlet claims the figures provided by 'Bloomberg' were hugely 'inflated'

American rapper Kanye West’s net worth has been making headlines ever since a recent report by Bloomberg termed him the “richest black man in the US.”

But according to a report by Forbes, the rapper may have given himself that title with ‘inflated’ numbers. Bloomberg stated that West’s new net worth was somewhere between $5.1 billion and $6.6 billion, courtesy of his brand Yeezy that was said to be worth between $3.2 billion and $4.7billion.

West was also attributed to be in possession of $122 million in cash and stock with $110million from his music catalog and other assets worth at least $1.7billion.

However, Forbes has claimed that the figures provided have been grossly inflated, since they are based merely on speculation and not the actual worth of mentioned possessions.

The outlet corrected that the rapper’s net worth is around $1.8billion – much lesser than the sum reported by Bloomberg.

Also read: Kanye West becomes richest man of colour in US history

The assessment comes after his brand Yeezy was revalued at $1.5billion, as opposed to the earlier $3.2billion to $4.7billion valuation it was believed to have.

And as far as the $970million partnership between Yeezy and Gap is considered, Forbes has claimed that that is an enormously hypothetical deduction, since the collaboration has not yet been released.

The publisher further debunked how West’s alleged $1.7billion in assets was also a figure immensely inflated as the actual number was no more than $160million.

Have something to add to the story? Share it in the comments below.