Forbes Say Kanye West Is Not ‘Richest Black Man In America’, Reveals His Real Net Worth

Global media company, Forbes, has disputed this week’s widely publicized report that American rapper, Kanye West, has become the richest black man in the history of United States with a net-worth of $6.6 billion.

KanyiDaily recalls that on Wednesday, multiple outlets reported that Kanye 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 stitch of clothing — have a combined value of as much as $4.7 billion, including an additional $1.7 billion in assets.

But according to Forbes, the reports that Kanye West is worth nearly $7 billion are based on the magical thinking around sales that don’t yet exist.

Forbes explains, the Bloomberg article cites a UBS report on Ye’s businesses in which the bank made a number of assumptions based on projected future earnings, particularly for Yeezy Gap, which has yet to launch.

According to the publication, bank documents like that often report “best-possible-scenario future valuations” — not what is actually there.

The publication estimates he’s worth less than a third of that, or $1.8 billion, which is based on current revenues — “not theoretical future expectations.”

Kanye West’s real time net worth according to Forbes is $1.8 billion, as of March 18, 2021. So, his money may be right that he’s still a billionaire, but not a super-duper billionaire as previously reported.

Therefore, the richest Black person in the United States remains Vista Equity’s Robert F. Smith who’s worth an estimated $6 billion, while Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world.

KanyiDaily recalls that In April 2020, Forbes confirmed Kanye West had become hip-hop’s second billionaire with net worth of $1.5 billion — the first being Jay-Z.