Forbes Denies Claims that Kanye West is the Richest Black Man in America

Forbes Denies Claims that Kanye West is the Richest Black Man in America

- Forbes says the multi-Grammy Award winner Kanye West is not the richest black person in the United States yet

- The American business magazine explains that the 43-year-old's earnings still don't make him the top earner in the US

- West's earnings are at $1.8 billion, not at $6.6 billion as reported on Wednesday by various media outlets

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Despite the latest media reports suggesting that the United States' rapper Kanye West is the richest black person in the US, Forbes has rubbished the news.

According to the American business magazine, news that West's net worth is approaching $7 billion is seemingly too good to be true.

It was widely reported on Wednesday that the famed rapper tops the charts. These reports came after Bloomberg said his sneakers and apparel business, Yeezy, and Yeezy Gap have a combined worth of potentially $4.7 billion.

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Kanye West is not the richest black person in the US. Image: Rich Fury/VF20/Getty Images for Vanity Fair
Kanye West is not the richest black person in the US. Image: Rich Fury/VF20/Getty Images for Vanity Fair
Source: UGC

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When combining his assets, the speculation took West's earnings to a whopping $6.6 billion, thus elevating him as the richest in the US.

The report is said to be inaccurate and according to the latest rankings, the 43-year-old is worth around $1.8 billion.

Although the latest ranking suggests the Gold Digger singer has made substantial profits from May 2020, the $1.8 billion mark does not make him the richest black person in the US.

Meanwhile, some media outlets have it that West's unaudited balance sheet as sent to Bloomberg by his legal representative indicates another $122 million in cash and stocks whilst there's $1.7 billion in assets including investments in Kim Kardashian's underwear brand.

On top of that, the record producer's whole music catalogue is valued at $110,5 million and that is based on last year's rankings and evaluation.

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Despite his financial gains, the politician and his wife, Kardashian, are undergoing divorce proceedings following their seven-year marriage.

In the midst of that, West is reported to have had a good week after bagging his maiden gospel Grammy for his 'Jesus Is King' album.

The accolade is his second career Grammy and it became the first from the Recording Academy in close to a decade.

Legit.ng recently ran a report that the rapper has allegedly stuck to his guns about cutting ties with his estranged wife after she filed for a divorce from him last month.

Latest reports reveal that the Atlanta-born star is still refusing to talk directly to Kardashian despite the two of them having a number of children together who they have both agreed will not be affected by the sudden split.

In the same report, this website is led to believe that the American media personality has allegedly taken the rapper's continued refusal to talk to her as him having another one of his bi-polar episodes and this is something she has admitted, is very worrying to her.

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Owolawi Taiwo is an entertainment and lifestyle journalist at Legit.ng with over two years working experience in the media industry. She has a degree in English and International Studies from Osun State University, Osogbo. When she is not reporting on celebrity lifestyle, you will find her listening to music, reading, learning new recipes.

Source: Legit

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