Kanye West’s net worth is currently around 400 Million it has drove him to the top rank as the highest-paid rapper in the hip-hop business that year, according to a September 2019 analysis by Forbes. His yearly income was calculated to be around $150 million, after deductions for agents, managers, and legal costs, using pretax income paperwork. Jay-Z, who made an estimated $81 million in 2019 and was the second-highest-paid hip-hop artist, placed this financial achievement into perspective.
It’s important to note that Kanye’s music business earnings suffered after antisemitic incidents became widely known. He stopped playing it in Peloton’s on-demand exercise programs. Spotify, a music streaming service, decided to keep his music available despite the fact that none of the recordings that were uploaded to the site contained any of his most recent, contentious statements.
Impact of Kanye West’s Yeezy
Surprisingly, Kanye West’s Yeezy clothing line contributed a considerable amount to his wealth. According to Forbes’ 2020 update on his wealth, Nike’s Air Jordan brand faced significant competition from Kanye’s Yeezy brand in the sneaker business. The Yeezy brand generated an estimated $1.3 billion in sales in just one year. Kanye received an 11% royalty from Adidas, who oversaw the creation, promotion, and distribution of Yeezy shoes, as the brand’s sole owner. This resulted in a startling profit of almost $140 million in 2019 from only Yeezy sales.
On October 25, 2022, Adidas abruptly ended its collaboration with Kanye due to his terrible remarks and behavior that went against the company’s ideals of diversity and inclusiveness.
The Changing Fortunes of Kanye West
Kanye West’s net worth was $1.8 billion, according to Forbes, in the first half of 2022. His wealth, however, was reduced to about $400 million as a result of the backlash from his widely reported antisemitic views. Numerous partners, including Adidas, Gap, Balenciaga, and others, distanced themselves from the rapper and ended their collaborations and sales of their goods.
Concerns about a possible financial crisis in the upcoming months were raised by the disturbance in his revenue sources. According to reports, the Adidas transaction alone was worth $1.5 billion. He was previously hailed as the wealthiest Black person in America, although these claims were exaggerated. His ex-wife Kim Kardashian now has a net worth of $1.4 billion, surpassing him.
The Complicated Divorce Settlement of Kanye West
Kanye West and Kim Kardashian decided to share custody of their four children when their divorce was finalized in November 2022. The agreement called for “equal access,” however according to TMZ, Kim primarily has custody and looks after their kids 80% of the time, with Kanye having them 20% of the time.
As part of the agreement, Kanye is required to pay Kim $200,000 a month in child support and to split equally the costs of the children’s upbringing, safety, and healthcare. Kim received homes in Hidden Hills, California, Riverside, California, Malibu, California, and Idaho as part of the divorce settlement, while Kanye received homes in other California locations as well as property in Wyoming, among other places.
Peaks and valleys in Kanye’s financial trajectory reflect his influence on both the business and entertainment realms.