What is Kanye West's net worth? how much money does he make?
Rapper and fashion icon Kanye West has a net worth of around $1.8 billion which he has gained through numerous business ventures. We took a closer look.
Kanye West gained notoriety in the United States in the early 2000s as a rapper known for his lyrical genius. The rapper turned designer has received much scrutiny in recent years for his support of former President Donald Trump, a failed presidential campaign, and his divorce from Kim Kardashian.
The musician and entrepreneur has a net worth of around $1.8 billion, according to Forbes. While his career started out in the music industry, he rapidly moved into the fashion world where he was able to increase his income and wealth substantially.
Kanye's early years
Kanye was born in Atlanta, but after his parents divorced he and his mother moved to Chicago, where he spent the majority of his youth. His mother was an English professor and overall he enjoyed a standard middle-class upbringing, even having the opportunity to live in China when his mother was a Fullbright Fellow. When his mother realized that her young son had a talent for poetry and rapping, she began to schedule time in a recording studio. There the young Mr. West crossed paths with important members of the music industry like DJ No I.D, who became his mentor.
Kayne West's Albums
Kanye's first album, The College Dropout released in 2004, earned him seven Grammy nominations of which he took home two for Best Rap Album, and Best R&B Song for 'You Don't Know My Name.' He was also nominated Album of the Year for his work as a producer on 'The Diary of Alicia Keys.'
Since the 2005 Grammy Awards, he has received seventy nominations for his work and won twenty-four awards.
In 2009, Kanye West signed an agreement with Nike to bring to market the companies first non-athletic sneaker, the Air-Yeezy I, with a second version being released in 2012.
In 2013, West began another shoe-based collaboration, this time with Adidas. Through the partnership, the beloved Yeexzus boot was released. In 2015, he expanded his collaboration to a clothing line. In 2017, Kanye West and Kim Kardashian the line was expanded to children's clothing. In 2020 alone, the brand garnered more than $1.7 billion in sales. However, in the same year, the US Department of Treasury recorded that that company received a small business loan under the CARES Act.
In 2009, he also partnered with Louis Vuitton and Bape on a shoe and later in 2011 worked with M/M Paris on a line of men's luxury silk scarves.
Joining forces with music industry legends, it was announced in 2015, that West would be a co-owner of the new streaming platform Tidal. Launched in collaboration with Jay-Z, and many other top artists, the team was attempting to combat the streaming monopoly held by Spotify which has frustrated many artists with its low royalty payout. Other co-owners include Rihanna, Beyoncé, Madonna, Chris Martin, and Nicki Minaj, who reportedly own around three percent of the company's stock.
In summer 2020, West announced a new partnership with Gap.
The first drop of the collection occurred on 28 September and consisted of a red bubble coat. Those who had registered to receive a note after the drop sold out all the merchandise in twenty-four hours. In an interview with Rolling Stone, Rich Fresh an LA-based designer said that this concept would be completely new to Gap who has never seen their items resold explaining that “They’ve never had someone walk into the Gap, buy a T-shirt and then resell it on the open market for 10 times as much — that’s going to be their new reality.”