American rapper, Kanye West is currently the richest Black man in the United States of America and he’s currently worth $6.6 billion.
“Led by his sneaker and apparel business Yeezy, which is now in partnership with Adidas AG and Gap Inc., the business is valued between $3.2 billion and $4.7 billion by UBS Group AG.
The value of the new Gap collaboration with Yeezy, which is scheduled to hit stores this summer, “could be worth as much as $970 million of that total,” Bloomberg reported, citing a bank estimate.
The “Famous” rapper also has $122 million in cash and stock and $110 million from his music catalog, alongside $1.7 billion in other assets, including estranged wife Kim Kardashian’s SKIMS business. (Kardashian filed for divorce in mid-February. The couple share four children: daughters North, 7½, and Chicago, 3, and sons Saint, 5, and Psalm, who will turn 2 in May.
West currently has full ownership and creative control of the Yeezy brand by himself and previously signed a 10-year agreement to design and sell clothes under the Yeezy Gap label last year, Bloomberg adds.
There, West will craft items for men, women and kids. The arrangement excludes footwear, however, as Yeezy’s partnership with Adidas lasts until 2026.
Citing the document obtained by their outlet, Bloomberg noted that the new Gap line is expected “to break $150 million in sales in its first full year in 2022.”