Kanye West is one of the richest self-made billionaires in America. He was born in Atlanta, Georgia, as Kanye Omari West. Additionally, he is not only a successful musician focusing on modern rap but is also a producer, fashion designer, rapper, and entrepreneur. If you love this icon, no doubt you may be wondering how much he is worth. Please read on to discover how this award-winning musician made his fortune and the different ways through which he spends and enjoys his earned money.
What is Kanye West’s Net Worth?
According to stats, Kanye West’s net worth is $6.6 billion as of 2022. His brand, Yeezy, has greatly propelled this net worth. With Yeezy’s increasing success and numerous other ventures, it will not be surprising to see Kanye’s net worth soaring.
How Did Kanye West Earn His Net Worth?
Kanye West has a lot of titles to his name. As expected, he makes great money from such numerous endeavors, including:
- Music
This has been a part of Kanye. At the age of 20, he dropped school and focused on music. West began by making beats for the local artists. At the beginning of his music journey, he worked on Jay-Z’s music.
In 2000, he was a producer for Roc-A-Fella Records, where his breakthrough came. Some of the artists he worked with are Janet Jackson, Alicia Keys, and others in the Hip Hop and R&B scene. He gradually grew his talent in music production but wanted to become a rapper. Thankfully, he got into his rapping career in 2004 with the release of his debut album, The College Dropout. The album sold 441,000 copies just a week after its release.
His music has been doing great. He has 70 nominations for the Grammy Awards and boasts of 22 wins from the same. Additionally, his albums have been listed on the Hot 200 Billboard Chart, with Yeezus, and The Life of Pablo coming at the top positions. His work has also featured in the first position on the US R&B Chart.
In his music career, he has sold over 170 million album copies. This makes him one of the best-selling music artists. What’s more, he greatly represents the hip-hop artists of his generation. Additionally, he has continued working as a producer for numerous musicians and was even featured in several songs. Notably, his music catalog is estimated to be worth $110 million.
Moreover, he founded a record label, G.O.O.D in 2004. Apart from him being signed to his label, the other artists are John Legend, Big Sean, Teyana Taylor, Pusha T, and Kacy Hill, among others.
Kanye has a successful music story, from being a producer to becoming a singer and songwriter.
- Owning and Co-Owning Companies
Kanye has further stretched his wings and ventured into company ownership. These include KW foods which deal in Chicago’s fast food, and DONDA, which focuses on the entertainment sector.
He also co-owned Tidal, a music streaming service, alongside Jay-Z, Rihanna, Nicki Minaj, Chris Martin, and Madonna.
- Yeezy and Brand Partnerships
Kanye West has gained most of his earnings from his fashion brand, Yeezy, which he owns 100% and has a value of $5 billion. He focuses on producing and designing clothes and footwear. In addition, he gets royalties amounting to $150-200 million yearly from his brand.
This enterprise can add a value of up to $3 to 5 billion to his net worth. Moreover, he has a website for the clothing line; Yeezy.com, with a value of $100 million.
The fashion designer has made clothing and footwear deals with brands like Adidas, Nike, and Louis Vuitton. With such collaborations, Kanye has managed to produce his sneakers.
Yeezy’s partnership with such brands is a source of good money. The Gap, for instance, is valued at $1 billion. At one point, Gap’s market cap had a $1.5 billion increase shortly after announcing its partnership with Kanye.
Also, Adidas struck a shoe collaboration deal with West in 2013. The good thing is their initial partnerships were successful. Therefore, in 2016, Adidas announced a long-term partnership with Kanye. From this, West gets 10% royalties.
Therefore, Kanye’s deals with other brands undoubtedly elevate his net worth.
How Does Kanye West Spend His Money?
As already mentioned, Kanye has been in the music industry for a long time now, but this sector didn’t make him as wealthy as his clothing brand, Yeezy did. However, how does he spend the money he earns? These are some of the ways through which Kanye channels his money.
- Real Estate
Kanye is a proud owner of real estate, amounting to $160 million. These are in terms of land, homes, and buildings. He has over 20 real estate properties across the US. In 2014, Kanye together with Kim Kardashian bought a home worth $20 million and spent another $20 million on its renovation before moving in. However, these two later split in February 2021.
He recently purchased a villa worth $37 million in Florida. His other houses are in Denver ($3 million), Houston ($11 million), Phoenix, Arizona ($5 million), Seattle ($16 million), Oklahoma City ($3 million), and Las Vegas (10 million).
He also owns ranches e.g Bighorn Mountain Ranch with a value of $15 million, and The Monster Lake Ranch, valued at $14 million. Kanye’s commercial property in Cody is worth $2 million.
- A Car Collection
Kanye West owns luxury cars. They are 15 and include several Bentleys, Mercedes, and Rolls-Royce. He also has Lamborghini Aventador, Lexus GX, Porsche 911, and Range Rover Sport.
- Philanthropy
West’s ventures are also aimed at charity. He has the Kanye West Foundation, whose educational benefits are experienced by African American and Latino Children. He is also involved with other organizations such as Live Earth.
Conclusion
Kanye is a success story, from a college dropout to a billionaire, making it big in the music, fashion, and business world. This self-made billionaire earns a greater percentage of his money from his clothing and footwear brand, Yeezy. Additionally, he has collaborated with other brands such as Luis Vuitton, Adidas, and Nike. Kanye is also a successful musician and producer. On the other hand, he spends his money on real estate, buying properties and villas, expanding his car collection, and engaging in philanthropy.
source: msn.com
