After years of hints, Kanye West formally announced he is running for president this year in a challenge to Trump, who he once supported, and Democratic rival Joe Biden, winning support from his friend and Tesla CEO Elon Musk.



KEY FACTS



<ul class="wp-block-list"><li>Rounding off his Fourth of July, West <a rel="noreferrer noopener" href="https://twitter.com/kanyewest/status/1279575273365594112?s=20" target="_blank">tweeted</a> on Saturday night: “We must now realize the promise of America by trusting God, unifying our vision and building our future. I am running for president of the United States! #2020VISION.”</li></ul>



<ul class="wp-block-list"><li>Musk<a rel="noreferrer noopener" href="https://twitter.com/elonmusk/status/1279577069005897728?s=20" target="_blank"> tweeted</a> in response: “You have my full support!”</li></ul>



<ul class="wp-block-list"><li>Wife Kim Kardashian also publicly pledged her support, retweeting West’s statement and adding a U.S. flag <a rel="noreferrer noopener" href="https://twitter.com/KimKardashian/status/1279597399380332544?s=20" target="_blank">emoji</a>.</li></ul>



<ul class="wp-block-list"><li>West’s announcement follows years of hints that he would run for office this year which he later postponed to 2024, after publicly declaring at a Fast Company event in 2019: “When I run for president in 2024&#8230;We would create so many jobs! I’m not going to run, I’m going to walk.”</li></ul>



<ul class="wp-block-list"><li>But the rapper, who recently <a href="https://www.forbes.com/sites/pamdanziger/2020/06/28/kanye-west-gives-gap-a-ten-year-lifeline-with-yeezy-partnership-and-gets-what-he-always-wanted/#3db3d12e3dde">inked</a> a 10-year deal with Gap through his Yeezy brand, is reportedly yet to file any paperwork to get on state election ballots, while he has missed the deadline for states including Texas, New York, and Indiana.</li></ul>



<ul class="wp-block-list"><li>It is not known how serious West’s intentions are this time around, however, he still has time to <a rel="noreferrer noopener" href="https://ballotpedia.org/Important_dates_in_the_2020_presidential_race" target="_blank">file</a> as an independent candidate across most states, according to Ballotpedia.</li></ul>



<ul class="wp-block-list"><li>West’s declaration was met with skepticism on social media, while some commentators pointed out that it could work out in Trump’s favour.</li></ul>



<figure class="wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Kanye West went from endorsing Trump to claiming he’d run against him —an announcement that benefits the president to the degree it spotlights Biden’s need for black voters &amp; his potential weakness with young voters <a href="https://t.co/0m4PUO6s6a">https://t.co/0m4PUO6s6a</a>&mdash; Marc Caputo (@MarcACaputo) <a href="https://twitter.com/MarcACaputo/status/1279589464491376642?ref_src=twsrc%5Etfw">July 5, 2020</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<figure class="wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Kanye West isn’t really gonna run for President, but his next album will be called Presidential Dropout&mdash; David Gardner (@byDavidGardner) <a href="https://twitter.com/byDavidGardner/status/1279585706432659457?ref_src=twsrc%5Etfw">July 5, 2020</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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KEY BACKGROUND



West’s declaration suggests the rapper is looking to cement political ambitions he has expressed throughout Trump’s presidency. West previously forged alliances with Trump, and was pictured in the Oval Office in 2018 wearing a signature Trump ‘Make America Great Again’ cap. He once called the president his “brother” and previously hit back at criticism towards his support for Trump, likening the backlash to racial discrimination. Although he says he didn’t vote in 2016, West later said he “would have voted for Trump”, and earlier this year doubled down, suggesting he would vote for him in November. But that could very well change given Saturday’s announcement.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="594" height="456" src="https://www.forbesafrica.com/wp-content/uploads/2020/07/gettyimages-1059657306-594x594-1.jpg" alt="" class="wp-image-46417" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/07/gettyimages-1059657306-594x594-1.jpg 594w, https://cms.forbesafrica.com/wp-content/uploads/2020/07/gettyimages-1059657306-594x594-1-300x230.jpg 300w" sizes="(max-width: 594px) 100vw, 594px" /><figcaption>American rapper and producer Kanye West embraces real estate developer and US President Donald Trump in the White House&#8217;s Oval Office, Washington DC, October 11, 2018. West wears a red baseball cap that reads &#8216;Make America Great Again,&#8217; Trump&#8217;s campaign slogan. (Photo by Ron Sachs/Consolidated News Pictures/Getty Images)</figcaption></figure>



TANGENT



West and Musk were <a rel="noreferrer noopener" href="https://twitter.com/kanyewest/status/1278353774671802369?s=20" target="_blank">pictured together</a> on July 1st, with West tweeting: “When you go to your boys [sic] house and you’re both wearing orange.”



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https://twitter.com/kanyewest/status/1278353774671802369?s=20
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&#8211;<a href="https://www.forbes.com/sites/isabeltogoh/">Isabel Togoh</a>, Forbes Staff, <a href="https://www.forbes.com/business">Business</a>

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Elon Musk, Kim Kardashian Endorse Kanye West Running For President

In what will be the second major Kardashian cashout in a year, Kim Kardashian West is selling a 20% stake in her cosmetics company KKW Beauty to beauty giant Coty&nbsp;<a href="https://www.forbes.com/companies/coty-inc" target="_blank" rel="noreferrer noopener">COTY</a>&nbsp;for $200 million. The deal—<a href="https://www.coty.com/in-the-news/press-release/coty-and-kim-kardashian-west-announce-strategic-relationship-expand-beauty" target="_blank" rel="noreferrer noopener">announced today</a>—values KKW Beauty at $1 billion, making Kardashian West worth about $900 million, according to&nbsp;Forbes’estimates.



The acquisition, which is set to close in early 2021, will leave Kardashian West the majority owner of KKW Beauty, with an estimated 72% stake in the company, which is known for its color cosmetics like contouring creams and highlighters.&nbsp;Forbes&nbsp;estimates that her mother, Kris Jenner, owns 8% of the business. (Neither Kardashian West nor Kris Jenner have responded to a request for comment about their stakes.) According to Coty, she’ll remain responsible for creative efforts while Coty will focus on expanding product development outside the realm of color cosmetics.



Earlier this year, Kardashian West’s half-sister, Kylie Jenner, also inked a big deal with Coty, when she sold it 51% of her Kylie Cosmetics at a valuation of $1.2 billion. The deal left Jenner with a net worth of <a href="https://www.forbes.com/sites/chasewithorn/2020/05/29/inside-kylie-jennerss-web-of-lies-and-why-shes-no-longer-a-billionaire/#6e35ef4c25f7">just under $900 million.</a> Both Kylie Cosmetics and KKW Beauty are among a number of brands, including Anastasia Beverly Hills, Huda Beauty and Glossier, that have received sky-high valuations thanks to their social-media-friendly marketing. 



“Kim is a true modern-day global icon,” said Coty chairman and CEO Peter Harf in a statement. “This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”



The deal comes just days after Seed Beauty, which develops, manufactures and ships both KKW Beauty and Kylie Cosmetics, won a temporary injunction against KKW Beauty, hoping to prevent it from sharing trade secrets with Coty, which also owns brands like CoverGirl, Sally Hansen and Rimmel. On June 19, <a href="https://www.forbes.com/sites/maddieberg/2020/06/23/the-company-that-makes-kim-kardashians-cosmetics-is-suing-her-to-protect-its-trade-secrets/#1f7f0b0aaac0">Seed filed a lawsuit against KKW Beauty</a> seeking protection of its trade secrets ahead of an expected deal between Coty and KKW Beauty. The temporary order, granted on June 26, lasts until August 21 and forbids KKW Beauty from disclosing details related to the Seed-KKW relationship, including “the terms of those agreements, information about license use, marketing obligations, product launch and distribution, revenue sharing, intellectual property ownership, specifications, ingredients, formulas, plans and other information about Seed products.”



Coty has struggled in recent years, with Wall Street insisting it routinely overpays for acquisitions and has failed to keep up with contemporary beauty trends. The coronavirus pandemic has also hit the 116-year-old company hard. Since the beginning of the year, Coty’s stock price has fallen nearly 60%. The company, which had $8.6 billion in revenues in the year through June 2019, now sports a $3.3 billion market capitalization. By striking deals with companies like KKW Beauty and Kylie Cosmetics, Coty is hoping to refresh its image and appeal to younger consumers.



Kardashian West founded KKW Beauty in 2017, after successfully collaborating with Kylie Cosmetics on a set of lip kits. Like her half-sister, Kardashian West first launched online only, but later moved into Ulta stores in October 2019, helping her generate estimated revenues of $100 million last year. KKW Beauty is one of several business ventures for Kardashian West: She continues to appear on her family’s reality show,&nbsp;Keeping Up with the Kardashians,&nbsp;sells her own line of shapewear called Skims and promotes her mobile game,&nbsp;Kim Kardashian Hollywood.&nbsp;Her husband, Kanye West,&nbsp;<a href="https://www.forbes.com/sites/maddieberg/2020/06/26/gap-stock-surges-after-kanye-west-signs-deal-to-sell-a-new-yeezy-clothing-line-with-struggling-retailer/#2807b5361437">recently announced a deal</a>&nbsp;to sell a line of his Yeezy apparel in Gap stores.



“This is fun for me. Now I’m coming up with Kimojis and the app and all these other ideas,” Kardashian West <a href="https://www.forbes.com/sites/natalierobehmed/2016/07/11/kim-kardashian-mobile-mogul-the-forbes-cover-story/#46bf36907e4f">told Forbes</a>of her various business ventures in 2016. “I don’t see myself stopping.”



&#8211;<a href="https://www.forbes.com/sites/maddieberg/">Madeline Berg</a>, Forbes Staff, <a href="https://www.forbes.com/hollywood-entertainment">Hollywood &amp; Entertainment</a>

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Kim Kardashian West Is Worth $900 Million After Agreeing To Sell A Stake In Her Cosmetics Firm To Coty

The Ye Effect may be the new Oprah Effect: This morning Kanye West’s fashion and shoe company Yeezy and clothing retailer Gap&nbsp;<a href="https://www.forbes.com/companies/gap" target="_blank" rel="noreferrer noopener">GPS</a>&nbsp;announced a ten-year partnership for a Yeezy Gap clothing line.&nbsp;



Yeezy Gap will hit stores next year with a line of “modern, elevated basics for men, women and kids at accessible price points,” according to a statement from both partners announcing the news. West will receive an undisclosed percentage of royalties and, potentially, an equity stake, dependent on sales achievements.



Shares of Gap, which has struggled over the past five years to keep up with fast fashion retailers, surged nearly 40% when markets opened Friday morning in response to the news, but then tapered off. As of shortly after 1:50 pm ET, the stock was trading at $12.50, up 22% from Thursday’s close. The deal is welcome news for the retailer, whose namesake brand has lost its iconic status, and, <a rel="noreferrer noopener" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/39911/000003991120000069/q1202010-qdocument.htm" target="_blank">as of earlier this month</a>, had cash flow of negative $1.1 billion compared to negative $136 million last year.



“Gap has been a challenge for us,” Gap CEO Sonia Syngal&nbsp;<a href="https://www.forbes.com/sites/andriacheng/2020/06/04/another-sign-gap-brand-is-losing-its-relevance-and-dont-blame-it-on-coronavirus/#153b5fd12645">said on a conference call</a>&nbsp;earlier this month, adding that “years of inconsistent execution have depleted brand health.” Other brands under the Gap umbrella include Banana Republic, Old Navy and Athleta.



Years ago, West, who worked at a Gap store in Chicago as a teenager, expressed interest in partnering with the brand, whose product is quite different from his pricey Yeezy high-fashion line that sells shoes for more than $1,000 a pair and $925 cardigans.



“I’d like to be the Steve Jobs of the Gap,” he said in a&nbsp;<a href="https://www.thecut.com/2015/02/kanye-sees-himself-as-the-robin-hood-of-fashion.html" target="_blank" rel="noreferrer noopener">2015 interview</a>&nbsp;on the now defunct Style.com. “I’m not talking about a capsule. I’m talking about full Hedi Slimane creative control of the Gap.”



But last year the rapper and designer, who is known to often change course,&nbsp;<a href="https://www.forbes.com/sites/zackomalleygreenburg/2019/07/09/kanyes-second-coming-inside-the-billion-dollar-yeezy-empire/#273fd54d5ec3">told&nbsp;</a><a href="https://www.forbes.com/sites/zackomalleygreenburg/2019/07/09/kanyes-second-coming-inside-the-billion-dollar-yeezy-empire/#273fd54d5ec3">Forbes</a>that&nbsp; “What makes celebrity products sell so well is scarcity. &#8230; So if they make it too broadly available, I think it crashes the business model.”



That said, the Yeezy clothing line wasn’t selling “so well.” While his deal with Adidas to sell Yeezy shoes makes up&nbsp;<a href="https://www.forbes.com/sites/zackomalleygreenburg/2020/04/24/kanye-west-is-now-officially-a-billionaireand-he-really-wants-the-world-to-know/#4111f4c87b9e">the bulk of his $1.3 billion fortune</a>—Forbes&nbsp;estimates that his stake of the partnership is worth $1.26 billion—the Yeezy fashion line has struggled. His high-fashion line, meanwhile, is nothing more than a rounding error when it comes to his net worth.&nbsp;



Partnering with a celebrity has been good—at least initially—for the stock of other companies.&nbsp; When Oprah Winfrey announced she was partnering with and investing in WW (then Weight Watchers) in 2015, its stock&nbsp;<a href="http://forbes.com/sites/laurengensler/2015/10/19/weight-watchers-oprah-winfrey/#e5073c6c6c68" target="_blank" rel="noreferrer noopener">surged 92%</a>. Earlier this month, shares of the beauty giant Coty&nbsp;<a href="https://www.forbes.com/companies/coty-inc" target="_blank" rel="noreferrer noopener">COTY</a>&nbsp;<a href="https://www.marketwatch.com/story/coty-stock-jumps-after-possible-collaboration-with-kim-kardashian-announced-2020-06-03#:~:text=COTY%2C%20%2D6.88%25%20shares%20jumped,line%20is%20called%20Kylie%20Cosmetics." target="_blank" rel="noreferrer noopener">rose 7%</a>&nbsp;when it announced that it was potentially pursuing a partnership with West’s wife, Kim Kardashian West.



&nbsp;It’s too early to say whether West’s Yeezy line can&nbsp; help turn Gap around for good, but it will be another chance for him to do what he loves.



“I am a product guy at my core,” West told <a href="https://www.forbes.com/sites/zackomalleygreenburg/2019/07/09/kanyes-second-coming-inside-the-billion-dollar-yeezy-empire/#2d4d7a4b5ec3">Forbes last year</a>. “To make products that make people feel an immense amount of joy and solve issues and problems in their life, that’s the problem-solving that I love to do.”



&#8211;<a href="https://www.forbes.com/sites/maddieberg/">Madeline Berg</a>, Forbes Staff, <a href="https://www.forbes.com/hollywood-entertainment">Hollywood &amp; Entertainment</a>

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Gap Stock Surges After Kanye West Signs Deal To Sell A New Yeezy Clothing Line With Struggling Retailer

After months of requests, the hip-hop superstar shared financial records, revealing details about his wildly popular Yeezy sneaker empire — and his fixation on outside validation.



When last we checked in with Kanye West, the mercurial hip-hop superstar-turned-footwear magnate, I was tiptoeing through a parking lot crop circle composed of hundreds of pairs of his Yeezy sneakers. “I’m not a numbers guy,” he explained ten months ago. “To ask me to somehow translate this to numbers is to ask your grandmother exactly what the recipe of the cake was.”



There’s only one number that West cares about. A billion, as in dollars. And he cares&nbsp;a lot.



When we featured West on the&nbsp;<a href="https://www.forbes.com/sites/zackomalleygreenburg/2019/07/09/kanyes-second-coming-inside-the-billion-dollar-yeezy-empire/">cover</a>&nbsp;of&nbsp;Forbes&nbsp;last summer, delving into his incredible success with Yeezy, he seemed pleased at first. His world-famous wife, Kim Kardashian West, even&nbsp;<a rel="noreferrer noopener" href="https://twitter.com/KimKardashian/status/1148660167254274048?s=20" target="_blank">tweeted</a>&nbsp;her congratulations, to the positive affirmations of 32,300 of their closest Twitter friends.But without sufficient documentation on his unusual stake, versus just his word and industry guesstimates, we didn’t call him a billionaire. And that grated on him.&nbsp;As the year wore on, he protested&nbsp;<a rel="noreferrer noopener" href="https://www.hollywoodreporter.com/news/christian-genius-billionaire-kanye-west-talks-2024-presidential-candidacy-moving-yeezy-stateside-1253358" target="_blank">publicly</a>. (“I showed them a $890 million receipt, and they still didn’t say ‘billionaire,’” he told an industry panel, about something that no one at&nbsp;Forbes&nbsp;remembers.) In private, he was more biting. (A “disrespectful article,” he texted this week, that was “purposely snubbing me.”)



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="783" height="1024" src="https://www.forbesafrica.com/wp-content/uploads/2020/04/Kanye-on-forbes-783x1024.jpg" alt="" class="wp-image-44642" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/04/Kanye-on-forbes-783x1024.jpg 783w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/Kanye-on-forbes-300x392.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/Kanye-on-forbes-600x784.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/Kanye-on-forbes-229x300.jpg 229w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/Kanye-on-forbes-768x1004.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/Kanye-on-forbes.jpg 960w" sizes="(max-width: 783px) 100vw, 783px" /><figcaption>After months of requests, the hip-hop superstar shared his financial records, revealing details on his wildly popular Yeezy sneakers empire—and his own net worth. &nbsp;JAMEL TOPPIN FOR FORBES</figcaption></figure>



When our annual&nbsp;<a href="http://www.forbes.com/billionaires">billionaires list</a>&nbsp;appeared earlier this month, again with West absent—still no documentation, and now a pandemic to boot—West again reacted with hurt and venom. “You know what you’re doing,” he texted. “You’re toying with me and I’m not finna lye [sic] down and take it anymore in Jesus name.” At one point, he texted that&nbsp;Forbes&nbsp;was “purposely a part of a group of media” that was trying to suppress his self-made narrative because of his race.&nbsp;That sister-in-law Kylie Jenner did make the list also clearly stuck in his craw.



Then yesterday, a breakthrough: West directed his team to provide what we feel is an authentic numeric look into Kanye, Inc.



Three things became clear from this exercise. First, it reinforces why we put him on the cover in the first place—West, in just a few years, has created a brand that’s challenging Nike’s Air Jordan for sneaker world supremacy. It’s one of the great retail stories of the century.



Second, it reinforced that West, who claims both in words and in this paperwork that he’s worth more than $3 billion, is as overly&nbsp;<a href="https://www.forbes.com/sites/randalllane/2015/09/29/inside-the-epic-fantasy-thats-driven-donald-trump-for-33-years/#225d05ca2037">boastful</a>&nbsp;as his political idol, President Donald Trump. Not a numbers guy? We agree.



Finally, and perhaps most critically to West, it does confirm, based on our estimates, that his stake in Yeezy indeed makes him a billionaire. A bit over $1 billion, actually.



In the process, we can now share more details about Yeezy than ever before revealed—as well as some insight into what drives this extremely creative, extremely enigmatic ten-digit artist.



Yeezy is a complicated asset. West owns 100% of it. But it’s functionally tied, at least for five-plus years based on the documents we saw, to Adidas, which produces, markets and distributes the shoes. There’s also a separate apparel division that we don’t believe makes money. Last year, our sources projected the shoes would finish 2019 with revenue north of $1.5 billion (Adidas would not comment then, or now)—per recent conversations and internal documents, we believe the final revenue number ended up closer to $1.3 billion.



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<iframe loading="lazy" title="How Kanye West Became A Billionaire | Forbes" width="500" height="281" src="https://www.youtube.com/embed/JRc5VhdMiRk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Our sources told us last year that West’s agreement calls for him to receive a royalty around 15% of Yeezy revenue from Adidas. Upon closer inspection, it appears some expenses are carved out of that slice, bringing his actual cut closer to 11%. At that rate, he would have received royalties of over $140 million from Yeezy sales last year.&nbsp;



West’s aggressive $3 billion self-appraisal is clearly based on the idea that the business is infinitely portable. It’s not. Taking Yeezy away from Adidas seems almost prohibitively cumbersome, if not contractually impossible. A safer way to value it: as a royalty stream, like music publishing or film residuals. Multiples, based on&nbsp;<a href="https://www.forbes.com/sites/zackomalleygreenburg/2019/05/08/royalty-exchange-cardi-b-jay-z-beyonce-timberlake/#6fd9ea346364">services</a>&nbsp;like Royalty Exchange or in large private transactions, can be as low as three for something faddish like Cardi B’s “Bodak Yellow” to 17 for an evergreen asset like the Eddie Murphy film&nbsp;Trading Places.&nbsp;



A handful of experts surveyed felt West’s interest would fetch a multiple somewhere in the middle of that range, were it ever made available to outside investors. The convenience of the Adidas setup trumps publishing catalogs, where owners must actively collect payments from a complex web of sources—or outsource that labor to someone else in exchange for an administration fee. “His place in the capital stack is a preferred place to be,” says Royalty Exchange chief Matt Smith, who pegged the multiple at between 10 and 12.



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%.&nbsp;That’s $1.26 billion.



<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://www.forbesafrica.com/wp-content/uploads/2020/04/yeezy-1024x785.jpg" alt="" class="wp-image-44643" width="678" height="519" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezy-1024x785.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezy-300x230.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezy-600x460.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezy-768x588.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezy-1536x1177.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezy.jpg 1600w" sizes="(max-width: 678px) 100vw, 678px" /></figure></div>



A handful of experts surveyed felt West’s interest would fetch a multiple somewhere in the middle of that range, were it ever made available to outside investors. The convenience of the Adidas setup trumps publishing catalogs, where owners must actively collect payments from a complex web of sources—or outsource that labor to someone else in exchange for an administration fee. “His place in the capital stack is a preferred place to be,” says Royalty Exchange chief Matt Smith, who pegged the multiple at between 10 and 12.



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%.&nbsp;That’s $1.26 billion.



Customized real estate often sells for less than the money put in (buyers in that range tend to want their own features, versus Kanye’s Belgian plaster). If you want to start scraping, there’s $3,845,162 for “vehicles,” $297,050 for “livestocks.” Then there’s the matter of his music. Documents we reviewed show West’s G.O.O.D. label—and his own recorded music and publishing rights—to be worth at least $90 million.



We tend to look at self-appraisals somewhat skeptically.&nbsp;Aside from the music, half of all this presumably belongs to his wife, although 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, leaving about $125 million in assets outside of his Yeezy crown jewel.&nbsp;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.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.forbesafrica.com/wp-content/uploads/2020/04/yeezys.jpg" alt="" class="wp-image-44644" width="540" height="304" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezys.jpg 960w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezys-300x169.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezys-600x338.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2020/04/yeezys-768x432.jpg 768w" sizes="(max-width: 540px) 100vw, 540px" /></figure>



The chip on West’s shoulder dates back to his early days growing up in Chicago, where teachers sometimes scolded him for sketching sneaker designs instead of doing his schoolwork. He later produced songs for Jay-Z but felt the elder mogul didn’t view him seriously as a solo act. Over the past decade, West instigated more than his share of narcissistic episodes, including a self-appointed nickname, tour and album,&nbsp;Yeezus, that never seemed to treat his savior complex with much irony. (Typical song: “I Am A God.”)



When viewed through that lens, his famous affinity for President Trump makes a lot of sense. (And it continues unabated—one text to&nbsp;Forbes’ chief content officer this week ended with “Trump 2020” and a raised fist emoji.) As does West’s net worth lobbying—an art practiced, with gusto, for decades, by Trump.



“It’s not a billion,” West texted us last night. “It’s $3.3 billion since no one at&nbsp;Forbes&nbsp;knows how to count.”



For years,&nbsp;<a href="https://www.forbes.com/sites/randalllane/2018/04/20/the-5-things-to-know-about-president-trumps-36-year-relationship-with-the-forbes-400/">Forbes&nbsp;had an informal “Trump rule”</a>—take whatever the future president insisted he was worth, divide by 3, and start honing from there. Like mentor,&nbsp;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.&nbsp;



&#8211;<a href="https://www.forbes.com/sites/zackomalleygreenburg/">Zack O&#8217;Malley Greenburg</a>, Forbes Staff, <a href="https://www.forbes.com/hollywood-entertainment">Hollywood &amp; Entertainment</a>



Additional reporting by Randall Lane

Tag: Kanye

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