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Kanye West Officially Becomes A Billionaire

Kanye West has now officially become a Billionaire, which has now made him the second American rapper after Jay-Z to reach that status.

Months after request, the Hip-hop star has finally shared his financial record which has revealed details of his popular Yeezy sneaker empire and his fixation on outside validation.
According to Forbes his Yeezy sneaker empire falls under the umbrella of Adidas and has gained him over the $1 billion mark. 

Forbes has also revealed that it had separated the rapper’s success from that of his empire while also sharing how they calculated Kanye’s net worth.

Nevertheless a good portion of Kanye West’s net worth can still be his royalty agreement with Adidas, as according to records he gains around 15% of Yeezy’s revenue from Adidas. 

Although when thoroughly reviewed it was seen that some expenses were carved out of the 15% slice therefore he actual cut is close to 11% and according to reports he has received over $140 million from his Yeezy’s royalties.

His team had also released a statement of his assets which includes $17 million in cash, $21 million in land, $35 million in stocks, $81 million in “buildings and improvements,” as well as his G.O.O.D. label and publishing rights, which is worth at least $90 million. 

Forbes had also reported that they had given Kanye's net worth a "50 percent haircut" due to illiquidity of his assets and the "the lack of independent backup." The team had also taken $100 million for debts, which includes mortgages and advances, leaving Kanye's estimated net worth at $1.3 billion.

Although Kanye had reportedly disagreed with this statement when he said that it’s not a billion but reported on Thursday night that it was $3.3 billion since no one at Forbes knew how to count.  

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