It was recently reported that Kanye West is now the richest black man in American History and now Forbes Magazine have disputed such claims.
On Wednesday, Bloomberg revealed Kanye West’s net worth to be $6.6 billion (making him the richest black man in the States) but Forbes said such claims of the 43-year-old’s worth are “not true”, adding that his worth is “less than one-third of that”.
“On Wednesday, multiple outlets reported that Kanye West is the richest Black person in America, worth as much as $6.6 billion,” the U.S. business magazine’s statement reads.
“The news comes after Bloomberg reported that his sneaker brand Yeezy, as well as Yeezy Gap, which has yet to sell one item of clothing have a combined value of as much as $4.7 billion.
“The publication mentioned, without going into full detail, an additional $1.7 billion in assets. It’s not true, based on our calculations. Forbes estimates he’s worth less than a third of that, or $1.8 billion.”
The statement continued: “That’s a big jump from last May when Forbes first pegged his net worth to be $1.3 billion, but nowhere near as much as the purported $6.6 billion.”
They added that “Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., worth an estimated $6 billion, while Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world.”
Read Forbes’ full statement below:
No, Kanye West is not the richest Black person in America. On Wednesday, multiple outlets reported that West is the richest Black person in America, worth as much as $6.6 billion. The news comes after Bloomberg reported that his sneaker brand Yeezy—as well as Yeezy Gap, which has yet to sell one item of clothing—have a combined value of as much as $4.7 billion. The publication mentioned, without going into full detail, an additional $1.7 billion in assets. It’s not true, based on our calculations. Forbes estimates he’s worth less than a third of that, or $1.8 billion. That’s a big jump from last May when Forbes first pegged his net worth to be $1.3 billion, but nowhere near as much as the purported $6.6 billion. Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., worth an estimated $6 billion, while Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world. The reports are based on the magical thinking around sales that don’t exist yet. Forbes’ much more grounded number is based on current revenues—not theoretical future expectations. Tap the link in our bio for the full details. (?: Jamel Toppin/The Forbes Collection)
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