Kanye West Confirms his Billionaire Status Yet Again
Kanye West celebrated his regained billionaire status on Instagram this week. On January 23, he posted a valuation report from Eton Venture Services that pegged his net worth at a cool $2.77 billion, thanks to an extensive music catalog and complete ownership of the Yeezy brand. Ye shared a screenshot of the report on his page and captioned it, "LAA LA LA LA."
Bouncing Back After Financial Blows
This new high in West's financial fortunes is after his great fall last year when his highly lucrative deal with Adidas was suddenly cut in 2022. According to Forbes, that dispute resulted in the reduction of his net worth from $2 billion to around $400 million. The now-axed deal was expected to be worth $1.5 billion. It became one of the many financial blows Ye took due to controversial comments which saw him lose major deals with companies like Def Jam, JP Morgan Chase, and Balenciaga.
The Road to Recovery
Despite the financial losses, West has managed to rebuild his fortune almost single-handedly. Last year, he made an admission of near bankruptcy two months later, following Adidas' decision to end their collaboration. But it was the release of his Yeezy platform, independent of the German sportswear giant, that powered his resurgence. Recently, he said Adidas tried to kill his success by burying his Yeezy website on Google; notwithstanding, he mentioned that it did $100 million in revenues within six months of its operation.
Music Catalogue as Key Asset
Outside of fashion, West's deep discography remains one of the biggest contributors to his purse. It's estimated that West's music catalog, comprised his albums, producing credits, and G.O.O.D. Music is worth a combined $90 million. That constant cash cow has kept him in the upper tier of the business year after year. He was hip-hop's best earner of the year in 2019, and in 2020, he topped all musicians globally, with an estimated gain of $170 million.
Iconic Album Sales and Influence
His best-selling albums remain one of the top contributing factors to his wealth. One of his most successful projects to date still seems to be 'The College Dropout,' which estimated sales are from 3 million to 9 million copies. The sales of his 'Late Registration' were somewhat successful, at over 4 million units. Releases like 'Yeezus', 'The Life of Pablo', '808s & Heartbreak', 'Graduation', and 'My Beautiful Dark Twisted Fantasy' further solidified financial standing.
Recent Projects and Controversy
Recent musical projects by West include collaborative albums entitled 'Vultures 1' and 'Vultures 2' with Ty Dolla $ign. The releases have not been without controversy, as more than 10 of the projects' producers said last month that they had not yet been paid in any way. This has led to questions over whether financial disputes are within West's camp. Thus, as ups and downs continue in Kanye West's life, the resurgence of his financial empire is only a reflection of his relevance in music, fashion, and entrepreneurial dealings.
