Kanye Is Bickering With Forbes Via Text Over His New-Found Billionaire Status
Forbes has finally listed Kanye West as a billionaire, but the rapper still isn’t satisfied with what he’s said to be worth.
Kanye is apparently very keen to have the world know exactly how much money he has, and when his 22-year-old sister-in-law Kylie Jenner was named the youngest self-made billionaire for the second year in a row this month, he probably started to get even more antsy about being credited with billionaire status himself.
The rapper has been labelling himself as a billionaire since at least last year, when he made an appearance at the 2019 Fast Company Innovation Festival and referenced a dispute he’d had with Forbes, after the company refused to list him as a billionaire in its ranking of the richest hip hop artists.
When I did Forbes, I showed them a $890 million receipt and they still didn’t say ‘billionaire,’.
I should point out that obviously an $890 million receipt doesn’t equate to proof that you’re a billionaire, but I assume Kanye was saying the receipt was only part of what he owned, and so the fact he had that much on a receipt should have been enough to indicate he’d reached billionaire-ville.
Still, Forbes didn’t agree at the time, and the publication has since claimed that Kanye repeatedly protested the move, texting it to say Forbes was ‘purposely a part of a group of media’ trying to ‘suppress his self-made narrative because of his race’.
This week, Kanye directed his team to provide Forbes with what the company deemed to be an ‘authentic numeric look into Kanye, Inc’, and lo and behold it found he is now a billionaire, after all.
Forbes cites Kanye’s cut of Yeezy revenue, the money earned from his music, $17 million in cash, $35 million in stocks, $81 million in ‘buildings and improvements’ and $21 million in land.
This doesn’t quite add up to a nice, simple grand total, however, as Forbes explains:
We tend to look at self-appraisals somewhat skeptically. Aside from the music, half of all this presumably belongs to his wife, though she’s no slouch and that math goes two ways.
Given the illiquidity of these myriad assets and the lack of independent backup, we’re giving all of this a 50% haircut: That’s about $125 million in assets, outside of his Yeezy crown jewel. Then, there’s debt: between mortgages, advances and other liabilities, we saw about $100 million that West is on the hook for.
All told, our current net worth estimate for Kanye West: $1.3 billion, which he’ll be pleased to note is $300 million more than little sister Kylie.
Given the findings, Forbes published a piece acknowledging Kanye’s success – something you’d think the rapper would be pleased about. But no.
Kanye is still accusing Forbes of understating his wealth, and apparently texted the publication saying:
It’s not a billion, It’s $3.3 billion since no one at Forbes knows how to count.
Forbes apparently has no qualms about the accuracy of its deductions, and since it’s been calculating the net worth of billionaires across the globe for years, I think it’s safe to say it’s a relatively trustworthy source.
Forbes went on to mention Kanye’s admiration and support for Donald Trump, and explained it had applied its informal ‘Trump rule’ to working out his worth.
The publication says:
For years, Forbes had an informal “Trump rule” — take whatever the [then-]future president insisted he was worth, divide by three, and start honing from there. Like mentor, like mentee.
Welcome to the ten-digit club, Kanye. You may not like our number, but you’ve joined the highest company in that regard.
I’ve no doubts Kanye will continue to hit Forbes with a few angry texts over his money, but to be honest, I have very little sympathy for the rapper. Reaching billionaire status is impressive either way, so Kanye should be satisfied with the fact he’s in among the world’s richest.
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