Kanye West has officially become a Billionaire, making him the second American rapper to reach that status after Jay-Z.
According to Forbes, ’Ye’s Yeezy brand, which he owns in its’ entirety and falls under the Adidas umbrella, helped push him over the $1 billion mark.
The publication said they dissected the Chicago rapper’s success with Yeezy, while also sharing how they tabulated Kanye’s net worth.
Nonetheless, a decent portion of Kanye’s net worth can be attributed to his royalty agreement with Adidas. West receives a “royalty around 15% of Yeezy revenue from Adidas. Upon closer inspection, it appears some expenses are carved out of that slice, bringing his actual cut closer to 11 percent. At that rate, he would have received royalties of over $140 million from Yeezy sales last year,” the report says.
Kanye West’s team provided a statement of the rapper’s assets, which were listed as $17 million in cash, $35 million in stocks, $81 million in “buildings and improvements,” $21 million in land, as well as his G.O.O.D. label and publishing rights, which is said to be worth at least $90 million. There were also a sizable deduction for $100 million worth of debts, which included mortgages and advances.
Forbes also noted that they gave Kanye’s net worth a “50 percent haircut” due to the illiquidity of his assets and the “the lack of independent backup.” The team also deducted $100 million for debts, which included mortgages and advances, putting Kanye’s estimated net worth at $1.3 billion.
But Kanye reportedly disagreed with Forbes. “It’s not a billion,” he allegedly texted the reporters Thursday night. “It’s $3.3 billion since no one at Forbes knows how to count.”
The song, ‘Brothers’ appeared on the trailer for Irv Gotti’s new BET series, ‘Tales.’
On the night of Wednesday, July 6, 2019, Irv Gotti’s anthology series, ‘Tales,’ premiered its latest episode on BET.
The episode features a snippet to Kanye West‘s new song, ‘Brothers.’ It features Charlie Wilson of the Gap Band. When the song was teased on the trailer for the series, fans started speculating who the seemingly reformed Kanye West might be talking about.
A few hours later on Instagram page, Irv Gotti posted the full version of the song which details Kanye’s apology to his “Brother forever.”
In the accompanying caption, Irv Gotti wrote, “There is a lot of speculation right now on who is Kanye West rapping about on the song brothers. So here is the song. That BET cut off because of there way of airing episodes.
“But it was always meant for the audience to hear the whole record. Listen. And decide for your self if you think Kanye is rapping about Jay Z or Virgil. Both Ye’s Brothers. And also let me know if you liked the episode and song. We did it for yall. My hip hop culture. -IG“
Who is Kanye apologizing to?
In the song, Kanye rapped that he missed their time together. Two names have come up about whom Kanye could be talking about. They are billionaire mogul, Jay Z and Head of Louis Vuitton‘s men’s division and Off-White founder, Virgil Abloh.
Jay Z is Kanye’s mentor and ‘Big Brother’ whom he rapped about on his critically acclaimed third studio album, Graduation. But since Kanye started seeing his current wife, Kim Kardashian things have gone south between the two. Jay Z and his wife, Beyonce also missed Kanye’s wedding to Kim Kardashian.
In an unofficial remix of the song, ‘Power’ which appeared on his fifth studio album, My Beautiful Dark Twisted Fantasy, Kanye West rapped, “Jay (Z), my big brother and B (Beyonce, Jay Z’s wife) my little sister…“
But during an infamous implosive 30-minute rant about everything from Donald Trump to Drake and Kid Cudi during the Sacramento leg of his Saint Pablo tour, Kanye name-checked Jay Z saying, “I’ve been sent here to give y’all my truth even at the risk of my own life, my own success, my own career. Jay Z—call me, bruh. You still ain’t called me. Jay Z, I know you got killers. Please don’t send them at my head. Please call me. Talk to me like a man.”
But during a chat with Dean Baquet for the New York Times, Jay Z doused the situation. Nonetheless, Jay Z appeared to clarify why he missed Kanye’s wedding on ‘Friends,’ a song off his collaborative album, Everything Is Love with wife, Beyonce.
Jay Z rapped, “I ain’t goin’ to nobody nothin’ when me and my wife beefin’. I don’t care if the house on fire, I’m dyin’, nigga, I ain’t leavin’…” He appeared to say that he missed Kanye’s wedding due to his much-publicized infidelity issues.
Kanye West and Virgil Abloh have worked together for about 13 years, but the most notable connection between the two was when they interned together for Fendi in 2009.
In 2010, Kanye made Virgil Abloh the head of his creative arm, DONDA – named after his mother. But around 2015, rumours started swirling of tension between the two.
In 2013, Abloh launched his street-wear brand, Off-White, but his creative parnership with West ended when he took on a leadership role at Louis Vuitton‘s men’s wear division.
During Drake’s beef with Pusha T (and Kanye), he threw a shot at Kanye West, “I could never have a Virgil (Abloh) in my circle and hold him back coz he makes me nervous, I want to see my BROTHERS flourish to their higher purpose…”
This verse could have come off private conversations he had Kanye West. Nonetheless, Kanye appeared at the June 2018 Paris Fashion Week where Virgil Abloh debuted as the first African-American head of menswear for Louis Vuitton.