Kanye West Is Officially A Billionaire

For a while now, Kanye West has been of the claim that he is a billionaire with evidence to prove the status considering successes recorded in his footwear and retail business. Forbes, however, could not rank him as one over what they regarded as guesses until Friday when they finally conceded.

Kanye was first famous for his rap music before switching career to fashion; running the two professions side-by-side. He owns the Yeezy footwear - a brand he runs in collaboration with Adidas AG which is believed to worth more than $3 billion according to Forbes. 

Before the father-of-four was officially declared a billionaire with a total net worth that is just over $1 billion, he had queried the media outlet of denying his true net worth despite showing them a receipt of £890 million from his footwear business alone. He protested against the industry saying, "I showed them a $890 million receipt, and they still didn't say 'billionaire."

The industry eventually turned its ears to Ye's outcry and did an overall valuation of all his businesses and other sources of income, in the end, he was estimated to worth about £1.3 billion. The key source of income that catapulted the rapper/fashion mogul to that enviable billionaire status is yet his Yeezy brand which without a doubt is one of the big brands anyone can get to buy out there. 

Breaking down how they arrived at the estimation that made the Good Life rapper a billionaire, his G.O.O.D Music record label only contributed $90 million to his overall valuation. Other major contributors to his wealth are the land properties and buildings he owns which are valued at $21 million and $81 million respectively. 

In liquid cash, Forbes' team found out he has $17 million in the bank and $35 million in stock value. His vehicles are valued at £3.84 million, plus $300,000 in livestock owned on his $14 million Wyoming ranches of nearly 100,000 acres. 

All the above valuations might sound good and worthy of breathing a sigh of relief for being ranked a billionaire after over a year of protest, Yeezy remained unpleased with the outcome and slammed the industry for doing a poor job as he said, "It's $3.3 billion since no one at Forbes knows how to count".