Image via Jamel Toppen for Forbes
Last summer, Forbes ran an extensive breakdown of Kanye West's burgeoning Yeezy Empire, a profile that was peppered with first looks of prototype sneakers and headline-grabbing info such as the fact his Adidas sneaker line was expected to surpass $1.5 billion in sales last year. While the outlet's projection missed the mark slightly, the "official" numbers are in—and things are looking better than ever for West's footwear franchise.
After taking umbrage with missing the cut on Forbes' latest The World's Billionaires list, West reportedly pulled a very Kanye move yesterday, providing the publiciation with a deeper look at the numbers behind his valuation and proving that he is, in fact, a billionaire. The Yeezy line alone pulled in a reported $1.3 billion last year; read on to find out how.
He Made More Than $140 Million on Sneakers in 2019
In last summer's profile, one of the most grabbing tidbits was the fact that West reportedly makes more on royalties from his Adidas Yeezy sneakers than Michael Jordan does from he and Nike's Air Jordans. While that is still true—Jordan makes an estimated 5 percent in royalties, while West was said to make up to three times as much—Kanye's actual take is slightly lower than Forbes forecasted. Rather than 15 percent in royalties, a more accurate figure of West's cut is said to be closer to 11 percent. With that in mind, the rapper-designer would've personally pulled in $140 million from the sales of his sneakers last year.
He Owns 100 Percent of the Yeezy Brand
Here's where things get a bid muddy. Technically, West owns 100 percent of the Yeezy brand. However, Forbes is quick to note that it reviewed documents stating the brand is connected to Adidas, which produces all of West's hot-selling footwear, for "five-plus years." Meanwhile, the separate, on-again, off-again Yeezy apparel entity is said to bring in no revenue, meaning his biggest cash cow here is his partnership with the Three Stripes.
He Has $17 Million in Cash and $35 Million in Stocks
Sneakers and apparel earnings aside, West reportedly has $17 million in cash, with another $35 million invested in stocks. Meanwhile, his most valuable assets are said to be $81 million in "buildings and improvements" and another $21 millon in land. But it's not all sweet. West's much-publicized debt is still a thing, with Forbes estimating he owes around $100 million on mortgages, advances, and liabilities.
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