American rapper, Kanye West, has been named hip-hop’s second billionaire after his net worth was estimated to be $1.3 billion.
Ekohotblog recalls that Jay-Z became the richest in 2019.
According to Forbes, West’s position was confirmed after he shared his financial records, revealing details about his wildly popular Yeezy sneaker empire and his fixation on outside validation.
Forbes Magazine estimated his worth to be $1.3billion (£1.05billion) after the documents he provided were checked.
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 magazine described Kanye’s recent success in the retail industry as “one of the great retail stories of the century”.
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