Forbes has denied reports that singer and businessman Kanye West is now the wealthiest black man in America’s history, after his businesses were valued at $6.6 billion.
Multiple media outlets had reported that Kanye West is now worth $6.6 billion after Bloomberg reported that his sneaker brand Yeezy as well as Yeezy Gap have a combined value of as much as $4.7 billion.
However, Forbes in the publication adds stated that “it’s not true.”
“No, Kanye West is not the richest Black person in America”.
“Based on our calculations. Forbes estimates he’s worth less than a third of that, or $1.8 billion.”
“The reports are based on the magical thinking around sales that don’t exist yet. Forbes’ much more grounded number is based on current revenues not theoretical future expectations, this is why he’s currently worth less than one third of that”, Forbes further stated.
Last May Forbes first pegged West’s net worth to be $1.3 billion, but nowhere near as much as the purported $6.6 billion.
Vista Equity’s Robert F. Smith remains the richest Black person in the US, with an estimated net worth of $6 billion. Nigeria’s Aliko Dangote remains the richest black person in the world with a net worth of $11.8 billion.