Kanye West has officially been declared a billionaire by Forbes after providing the outlet with financial records that give insight into the amount of money he has made from his Yeezy sneaker empire.
The rapper and entrepreneur said last year that Forbes wouldn’t classify him as a billionaire, despite showing them an $890 million receipt. Now, he wants to set things right with the outlet.
The financial records that Forbes received show that he would have received $140 million from Yeezy sales last year.
“Conservatively, as we typically are with such figures, a 10x multiple, applied to West’s Yeezy cut of $140 million makes his stake worth about $1.4 billion. But that’s a private, highly illiquid $1.4 billion — our rule-of-thumb for private assets like that is to lop off at least 10%. That’s $1.26 billion,” the outlet said.
Kanye disagrees with the estimated net worth of $1.3 billion that the outlet calculated.
“It’s not a billion,” he told Forbes in a text message this week. “It’s $3.3 billion since no one at Forbes knows how to count.”
Bloomberg also did an article about Kanye‘s net worth today and reported that his personal accountant “provided an unaudited balance sheet that pegs the rapper’s net worth at $3.15 billion and lists more than $200 million of other assets.”