Kanye West net worth is about $1.8 billion as of 2022. West is an American billionaire, singer, producer, and fashion designer.
Despite running into a $53 million debt in 2016, the billionaire was able to turn things around thanks to his partnership with Adidas.
The self-made billionaire is one of the wealthiest individuals in the United States. He’s also currently ranked at number 1702 on the list of the world’s richest people by Forbes.
Kanye West dropped out of college to pursue a career in music. He came into the limelight in the early 2000s when he was a producer for Roc-A-Fella Records.
Kanye West has accumulated a good amount of his fortune from his brand of sneakers known as Yeezy. In 2020 the brand had an estimated $1.7 billion in sales. West is regarded as one of the world’s most influential persons, a reason for the huge success of his brand of sneakers.
In October last year West officially changed his name from Kanye Omari West to Ye which according to him means you.
So how did Kanye West start and how did he become so rich?
Kanye West was born in Atlanta, Georgia on June 8, 1977, and is currently 44 years of age. His mother was a professor of English and his father was a photojournalist. They divorced when Kanye was three. He later moved to Chicago with his mother.
West had a great passion for music and drawing by the time he was in third grade. When he reached 7th grade, he could make musical compositions and sell them to other artists.
Kanye’s mother saw the passion he had for music and agreed to pay for a recording studio so that his son could spend time there pursuing his musical dreams.
The studio was just a small basement studio where the microphone hung from the ceiling by a wire clothes hanger. Despite this, his mother continued to encourage him.
The rapper attended Chicago State University where he went to study English. He however dropped out in order to concentrate on his musical career.
How did Kanye West become a billionaire?
In 2006, West designed a shoe for Adidas which was however not released. He went on to collaborate with Bape and they together released a pair of Bapesta “College Dropout” shoes.
Kanye then had a 5-year deal with Nike which led to the release of the Air Yeezy 1 and Yeezy 2 sneaker styles. In 2013, he parted ways with Nike and decided to approach Adidas again.
In December 2013, Adidas announced that it would work with Kanye West to release a new shoe. On February 12, 2015, the two released 9000 pairs of the Yeezy shoe which were only available in New York City. The pairs were all sold within 10 minutes.
The shoe was then released worldwide later that month. In 2016 Adidas and West signed a new long-term contract to have Yeezy in more stores globally as well as introduce the brand to the sports industry. This would see the brand in football, and basketball among other sports.
The Yeezy shoe is often regarded as one of the most influential brands of sneakers on the planet. In the partnership with Adidas, the billionaire retains 100% ownership of the Yeezy brand and has full authority over the products released.
As of 2019, Yeezy shoes generated an estimated $1.3 billion in revenue and $1.7 billion in 2020. It is not clear how much the billionaire gets in royalties from Adidas but parade.com estimates that it could be anywhere between 10-15% of sales.
In May 2021, Kanye West partnered with GAP Inc. for a 10-year deal worth $1 billion where they will start selling a line of Kanye’s Yeezy clothing designed for GAP. The Yeezy sneaker brand is estimated to be worth about $5 billion.
Related: Eminem net worth
Kanye West has been as successful in the music industry as he has been in his business ventures. He’s one of the planet’s best-selling singers of all time having sold more than 160 million records globally.
The billionaire has won 22 Grammy Awards and had 6 of his albums included in the list of the 500 Greatest Albums of All Time by Rolling Stone in 2020.
Kanye West charges anywhere from $250,000-$500,000 for a feature, an amount charged by other artists such as Nicki Minaj, 21 Savage, and Kendrick Lamar.
During the 2008 Glow in the Dark tour, the music star pocketed $30.8 million while his 2011 Watch the Throne Tour grossed $75.4 million.
West also took home $31.8 million from his 2013 Yeezus Tour while the Saint Pablo Tour in 2016 grossed $52.8 million.
Kanye West co-owns the music streaming service, Tidal along with other artists such as Rihanna, Jay-Z, Nicki Minaj, and Chris Martin among others.
The billionaire also owns GOOD Music, a record label and production company. The label is home to artists such as John Legend and Big Sean.
In 2012 Kanye founded DONDA, a creative content company with the goal of providing a platform to people with great ideas.
How does Kanye spend his billions?
What would you not have with all this money?
Kanye has stocks worth over $120 million and a real estate portfolio worth about $100 million.
In 2014 Kanye and Kim Kardashian bought a $20 million mansion and spent another $20 million in renovations. Kanye then purchased a neighboring mansion for $30 million and owns about 300 acres of land in Calabasas.
He owns a $60 million mansion in hidden hills, California.
The billionaire owns a sleek matte black Porsche Panamera worth $180,000, a Mercedes SLR McLaren worth $500,000, and a rare Mercedes SLR Stirling moss worth $1.06 million.
He owns several Lamborghinis including a Lamborghini Gallardo worth $209,000 and a stylish $750,000 Lamborghini Aventador which he received from his former wife Kim Kardashian as a gift on his birthday.
Kanye West owns a $14 million 4500-acre ranch in Wyoming where he keeps his 700 head of sheep and 160 head of cattle. The ranch also has an event venue, an office building, a maintenance shop as well as a shooting gallery.
He also owns another ranch 100 miles away which he bought for $15 million. He spent about $2.6 million to acquire the livestock.
The billionaire has been spotted wearing watches worth more than $100,000. He has several Rolex watches including a $48,000 yacht master ii, and a $17,990 president day date among other watches.
When Kanye performed at the 2010 BET Awards, he was spotted wearing an Egyptian-inspired king Horace gold necklace worth $300,000.
Kanye West once rented a $10 million Boeing 747 private jet to travel to Japan with his wife Kim. You have to part with about $50,000 an hour to rent the private jet.
In 2020 after the murder of George Floyd, West donated $2 million to the families of Floyd, Breonna Taylor, and other victims of police brutality.
The billionaire has been married to Kim Kardashian from May 24, 2014, to February 19, 2021. They have 4 children, North (born 2013), Saint West (born 2015), Chicago West (born 2018), and Psalm West (born 2019).
Both Chicago and Psalm were born through surrogates. Before their marriage, Kanye had dated Alexis Phifer (2002-2008) and Amber Rose (2008-2010).
In November 2007 Kanye West lost his mother, Donda West who died at the age of 58.
After signing a multi-year deal with GAP Kanye West net worth is definitely going to increase. This is bearing in mind that the Yeezy brand continues to do well and its revenues are also expected to increase.
Finally, I thought you could be inspired by a few quotes from Kanye West
- “If you have the opportunity to play this game of life you need to appreciate every moment. a lot of people don’t appreciate the moment until it’s passed.”
- “Nothing in life is promised except death”
- “I’m giving all that I have in this life. I’m opening up my notebook, and I’m saying everything in there out loud.”
- “Would you believe in what you believe in if you were the only one who believed it?”
- “It’s not ‘can’; it’s ‘will.’ You have to will things into fruition”
- “Here’s something that’s contrary to popular belief: I actually don’t like thinking. I think people think I like to think a lot. And I don’t. I do not like to think at all.”
- “I’m really bad with answering questions. Usually, I don’t even answer them. I try to find inspiration inside of the question. I think, and I jump from one beam of inspiration or energy to the next, as opposed to explaining the energy.”