- Kanye West is rumored to be nearing billionaire status.
- The rapper and entrepreneur joined President Donald Trump at the White House as he signed the Music Modernization Act on Oct. 11, 2018.
- The celebrity’s business ventures include his successful Yeezy collection.
After a controversial few weeks due to comments about the 13th Amendment and his praise of President Donald Trump, Kanye West met with Trump himself Oct. 11. The White House meeting included a ceremonial signing of the Music Modernization Act, which increases royalty rights for musicians.
West also returned to music in a big way in 2018. The rapper released his album, “Ye,” on June 1, 2018, which was his first album release since 2016. The album features other big names like Nicki Minaj. West also released an album, “Kids See Ghosts,” with Kid Cudi on June 8.
In addition to his music, West appears to be busy with his business ventures: In April, the entrepreneur tweeted that his clothing company Yeezy would hit $1 billion in 2018. In a July appearance on the “Jimmy Kimmel Live!” show, West’s wife Kim Kardashian West confirmed rumors that Kanye West is almost a billionaire. His claim that Yeezy would hit the milestone is unlikely, but not impossible, according to GQ magazine.
We have 160 positions to fill by the end of the year. Yeezy will hit a billion dollars this year. It is the 2nd fastest growing company in history. It is a unicorn on its way to becoming a decacorn.
— KANYE WEST (@kanyewest) April 25, 2018
Click to find out the net worth of this wealthy rap mogul as he adds to it with these new music releases and his fashion line.
Kanye West Net Worth: $250 Million
Despite his wife’s confirmation of his reaching near-billionaire status, Kanye West’s current net worth is reported to be $250 million according to Celebrity Net Worth. But at $220 per pair of Yeezy 350s, West would need to do just 12 shoe releases of 400,000 pairs over the course of a year to hit $1 billion in sales, according to GQ.
Although the full impact of Kanye West’s controversial statements on his net worth is yet to be seen, at least one radio station program, Detroit 105.1’s The Morning Bounce, announced it would no longer play West’s music or have him on the show. Other media personalities and hashtags to #BoycottKanye and #MuteKanye have called for similar action, but those statements haven’t resulted in a documented hit to West’s net worth.
His net worth is certainly a lot, but it’s less than half the family fortune. His wife, Kim Kardashian West, has a net worth of $350 million, bringing the couple’s grand total to $600 million.
Another Near-Billionaire in the Family: Kylie Jenner Net Worth Skyrockets — See the 20-Year-Old’s Unbelievable Fortune
The couple has spent years renovating their $20 million Hidden Hills, California estate since they purchased it in August 2014. They’ve spent around $20 million to overhaul the 30,000-square-foot property, according to TMZ.
Before the move, they resided at their 9,000-square-foot Bel-Air, California mansion, which they purchased for $9 million in 2013 and spent more than $2 million updating. In November 2017, the couple sold the home for $17.8 million, TMZ reported. Not only did this net them a huge profit, but the sale also made history as the most expensive sale in the Bel-Air Crest community.
Kanye West’s Career
Kanye West’s debut album, “The College Dropout” (2004), included hit songs like “Jesus Walks” and “Slow Jamz.” He followed that album with his sophomore record, “Late Registration” (2005), which included the song “Gold Digger” featuring Jamie Foxx. Then came the albums “Graduation” (2007), “808s & Heartbreak” (2008), “My Beautiful Dark Twisted Fantasy” (2010), “Yeezus” (2013) and “The Life of Pablo” (2016).
His latest album debuted at No. 1 on the Billboard 200 chart. About 70 percent of sales were composed of streaming equivalent albums, which was a first for a Billboard chart-topper. In March 2017, “The Life of Pablo” became West’s eighth album to go platinum. This accomplishment is especially significant considering more than 500,000 copies were pirated, making it one of the most bootlegged albums of all time.
Unfortunately for West, the “Saint Pablo Tour” didn’t have the same happy ending. Following a slew of erratic onstage antics, West canceled the final 21 dates of the tour in November 2016.
West began releasing new music in April 2018, starting with the single “Lift Yourself,” which some believe is some sort of inside joke. He released the single “Ye vs. the People” shortly after, which features West and rapper T.I. talking about their political differences. West is also featured on Travis Scott’s new single, “Watch,” which was released in May 2018. Unfortunately for West, the media blitz didn’t seem to help generate sales for his new singles. “Lift Yourself” only racked up 4,000 digital sales in its first week, and “Ye vs. the People” reached only 12,000 in digital sales, Fader reported.
In June, the rapper released a new album, “Ye,” on June 1, 2018, which was his first album release since 2016. A week later, West released his album, “Kids See Ghosts,” with Kid Cudi.
Kanye West’s Business Ventures
Apart from music, Kanye West is also a fashion designer with his own collection: Yeezy. Yeezy Season 1 debuted at New York Fashion Week in February 2015 as a collaboration between West and Adidas. West debuted Yeezy Season 6 — the most recent Yeezy collection — on Instagram, a departure from his usual NYFW debuts.
Prior to joining forces with Adidas, West created a successful line of Nike Air Yeezy sneakers. But he cut ties with Nike in November 2013, claiming the company didn’t pay him royalties. West’s initial endorsement deal with Adidas was valued at $10 million. In June 2016, the company announced a new partnership with West that could turn him into a billionaire, according to TMZ. Under the terms of this agreement, he’ll get his own Yeezy retail shops. West will also design basketball and football athletic wear over the next few years.
In April 2018, West claimed on Twitter that he is “currently the single highest paid person in footwear. That means I make more money on shoes than Michael Jordan.” Whether or not his claims are true, his Adidas contract is definitely lucrative — and he won’t be losing it due to the recent controversy surrounding him. In an interview with Bloomberg TV, Adidas CEO Kasper Rorsted said that the company has not discussed dropping its deal with West, even though “there clearly are some comments we don’t support.”
Beyond Yeezy, Kardashian West and West debuted their own line of children’s clothing in May 2017.
About Mrs. West: How Kim Kardashian Built Her Multimillion-Dollar Empire
Kanye West’s Family
In October 2013, West spent an estimated $6.2 million to surprise his then-girlfriend, Kim Kardashian, with an elaborate marriage proposal in San Francisco. The couple married in Italy the following year in an extravagant ceremony thought to have cost roughly $2.8 million, as reported by E! News. This sum does not include the cost of their prenuptial festivities in Paris, which involved renting out the Palace of Versailles for their wedding rehearsal.
Frequently vocal about his love for his wife, West has a history of showering her with over-the-top gestures. For example, for Mother’s Day 2016, West woke his wife with a surprise performance by a string ensemble in their living room. For Christmas 2017, West surprised Kardashian West with hundreds of thousands of dollars in stock options from major performing brands such as The Walt Disney Company, Adidas, Netflix and Apple. Kardashian West splashed the generous gift all over social media, touting West as the “best husband,” according to Fortune.
The couple has three children. Their daughter North was born on June 15, 2013; their son Saint was born on Dec. 5, 2015; and their third child, daughter Chicago, was born on Jan. 15, 2018, delivered via surrogate. The decision to use a surrogate came after Kardashian West experienced birth complications in the form of placenta accreta with her first two pregnancies.
Click through to read more about the ultimate status symbols only the rich can afford.
More on Net Worth and Celebrities
- President Donald Trump’s Net Worth Going Nowhere Fast
- Kaley Cuoco’s Net Worth as ‘Big Bang Theory’ Returns for Season 11
- ‘The Voice’ Coaches Showdown: Who Earns More?
Laura Woods contributed to the reporting for this article.