Kanye West is officially a billionaire, but it seems Forbes may have snubbed him from the prestigious list prior to this.
The 42-year-old is reportedly worth $1.26 billion and has finally been named a billionaire by Forbes Magazine after he provided documents to the publication, which proved his fortune by giving an “authentic numeric look into Kanye, Inc”.
However, Kanye disputes Forbes’ findings, claiming he is actually worth $3.3 billion and not $1.26 billion and the rapper even texted the publication after the article was published to correct them.
He reportedly wrote: “It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count.”
According to Forbes, Kanye was furious after the publication’s annual World’s Billionaires list – featuring his sister-in-law Kylie Jenner – was published last month but there was no mention of him.
According to a report on Forbes, a writer at the publication noted that they would have included him in the prestigious list earlier, however “without sufficient documentation on his unusual stake, versus just his word and industry guesstimates, we didn’t call him a billionaire. And that grated on him. As the year wore on, he protested publicly. (“I showed them a $890 million receipt, and they still didn’t say ‘billionaire,’” he told an industry panel, about something that no one at Forbes remembers.) In private, he was more biting. (A “disrespectful article,” he texted this week, that was “purposely snubbing me.”)
He is said to have texted: “You know what you’re doing. You’re toying with me and I’m not finna lye down and take it anymore in Jesus name.”
Along with his share of the Yeezy footwear brand, which Forbes estimates at about $1.4 billion, with a note that it’s a “private, highly-illiquid $1.4 billion” putting it closer to $1.26 billion, Kanye also has$17 million in cash and $35 million in stocks.
He also holds $81 million in “buildings and improvements”, $21 million in land and his G.O.O.D. label–along with his own recorded music and publishing rights–is worth at least $90 million, according to documents provided by the rapper.ADVERTISEMENT. SCROLL TO CONTINUE READING.
However, due to the “illiquidity of these myriad assets and the lack of independent backup”, Forbes estimates that the assets are worth 50 per cent less than stated, leaving Kanye with about $125 million in assets outside of Yeezy.
Additionally the magazine says that between “mortgages, advances and other liabilities”, the rapper owes about $100 million.
Kanye West has been very open about his failed investments, and financial struggles. The son of a college professor, Kanye has always shared his grapples with success in the music industry and beyond.
Kanye admited he was once a functioning alcoholic. West has claimed missing out on music award nominations “partially led [him] to alcoholism”, and admitted he used to drink vodka in the mornings.
The ‘Jesus Walks’ rapper opened up in a recent GQ interview about turning to drink after his records ‘My Beautiful Dark Twisted Fantasy’ and ‘Watch the Throne’ were snubbed for Album of the Year accolades.
Although the Forbes list validation may not mean much in the way of valuing his assets of which he already knew of, the listing could open up more business opportunities for the father of 4.
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