Kanye West Net Worth: Is He A Billionaire, How Does He Make His Money?

Kanye West is a multi-faceted American entertainer known internationally as a rapper, singer, and songwriter. The Atlanta native is also a record producer, a businessman, as well as a fashion designer. Born Kanye Omari West on the 8th of June 1977 in Atlanta, Georgia, the rapper is the son of Ray West and Dr. Donda C. The latter is an English professor and the former, a photojournalist and Christian marriage counselor. Considering the things he has accomplished as a musician, it is only natural that a lot of people are interested in getting all the facts about Kanye West’s net worth. We have trashed that out in this piece.

How Kanye West’s Rose To Fame

The musician’s natural likeness for the arts was obvious from the time he was a child. He was five-years-old when he started writing poetry and according to his mother, she first noticed his passion for drawing and music when he was a third-grader, the same time he began rapping. By the time he got into 7th grade, he started composing music and subsequently sold them to other artists. Enjoying the support of his mother, the then-13-year-old West was able to get her to pay for time in a recording studio for him to record his rap titled “Green Eggs and Ham”, which he wrote.

Not long after, Kanye West met Ernest Dion Wilson, a music producer and DJ professionally known as No I.D. They became close friends almost immediately and soon No I.D became Kanye’s mentor, teaching him how to sample and program beats after the then-aspiring musician got his first sampler at the age of 15. Upon his graduation from high school, the singer continued his education on scholarship at Chicago’s American Academy of Art in 1997 but after a short while, he transferred to Chicago State University, abandoning his painting classes to study English.

However, due to the fact that his busy class schedule was affecting his music career negatively, he decided to choose between the two and unsurprisingly, he dropped out of the university at 20 to pursue his career in music, against his mother’s will. Towards the end of the 1990s, he worked as a producer at a radio station in Chicago and for the next few years, he focused on the songbooks of other artists, writing hit songs for a number of them, including Jermaine Dupri and Jay-Z.

READ   The 25 Richest Comedians In The World And Their Net Worth

A near-death experience that Kanye West had in 2002 eventually inspired him to start making his own music and in 2004, he released his first album titled “The College Dropout”. It turned out to be a hit, establishing West as one of the forces to reckon with in the music industry.

Kanye West’s Net Worth: Is He A Billionaire?

According to Forbe’s list of hip-hop’s next billionaires: richest rappers 2019, Kanye West has an estimated net worth of $240 million. This gave him the fourth spot on the list behind Jay-Z, Dr. Dre, and Diddy. He also ranked third in the publication’s 2019 list of highest-paid celebrity 100, behind Taylor Swift and his sister-in-law, Kylie Jenner, but stayed ahead of ninety-seven other people, including his wife Kim Kardashian West as well as football stars like Lionel Messi, Cristiano Ronaldo, and Neymar among others.

Kanye West
Kanye West Yeezy Season 4 Fashion Show: image source

The rapper and businessman had been absent from the list for the past four years but he was able to make a big return this year as a result of the increasing success of his sneaker brand, Yeezy. As the Yeezy brand keeps growing, Kanye West might eventually secure a sit beside his sister-in-law, Kylie Jenner, in the billionaire’s club.

How Does He Make His Money?

The singer/songwriter was formerly heavily dependent on his music career as his source of income but that changed when he ventured into other things like his shoe brand, Yeezy, which is currently his major source of income. According to Forbes, the brand, described as a billion-dollar empire, has made more than $150 million (pretax) in the past year and is also expected to top $1.5 billion in sales in 2019.

READ   The 20 Richest People Of All Time
READ   Inside Mike Tyson's $2.5 Million Mansion, Car Collections and Mouthwatering Net Worth

This is a total turn-around for the rapper, who made headlines in 2016 when he took to Twitter to beg Facebook CEO, Mark Zuckerberg, to invest $1 billion into his ideas, claiming he was $53 million in personal debt. Unfortunately, Kanye West did not succeed in getting that billion from Zuckerberg but while the idea of raising some money from the Facebook CEO failed, his shoe line definitely brought him out of debt, if he was truly bankrupt.

See Also: Iliza Shlesinger‘s Net Worth – How Does She Make Her Money?

The rapper-turned-designer brought his brand over to Nike from the German shoemaker, Adidas, in 2013 after he successfully negotiated a 15% royalty on the wholesale price of his sneakers in addition to a marketing fee. In no time, the line went off the ground and in 2015 he released his Yeezy Boost 750 “Light Brown” sneakers, which was completely sold out in 10 minutes at the retail price of $350. This was followed by the release of some limited editions like Yeezy Boost 350, Yeezy 950, and Yeezy Boost 700, all of which sold at retail prices within the range of $300 to $585 per pair.

Speaking with Forbes, the rapper said he owes his success partly to his Christian faith and partly as a result of his bipolar disorder diagnosis which, according to him, is a superpower that is vital to his creativity. He isn’t a billionaire but all things being equal, Kanye West’s net worth is bound to touch the skies in the nearest future.

Recommended

A Timeline Of John Cena’s Relationships, Net Worth and Family Details

John Cena is one of the most popular WWE personalities. He is known for his incredible performances in the ring and the many achievements...

Leonardo Dicaprio – Net Worth in 2020, Age & Parents

What is Leonardo Dicaprio's net worth? Movie stars don’t come any bigger than Leonardo DiCaprio. Unarguably most famous for his portrayal of the young dashing...

Khloe Kardashian – Age, Business Earnings & Body Measurements

American Television personality and entrepreneur Khloe Kardashian has made most of her fortune from her family's reality TV show Keeping Up With The Kardashians....

Snoop Dogg – Net Worth in 2020, Family & Friendship With Martha Stewart

What is Snoop Dogg's net worth? Snoop Dogg is an American rapper, actor, entertainer, film director, and record producer, famed for his work in the...

Kendall Jenner – Net Worth, Boyfriend & Relationship With Harry Styles

What is Kendall Jenner's net worth? Kendall Jenner is one of the most famous people in the world right now. While still in her teens,...

Tyga – Net Worth in 2020, Relationship With Kylie Jenner & Blac Chyna

What is Tyga's net worth? Tyga is one of the uniquely talented rappers in the international music scene. In 2017, the star and media personality...

50 Cent – Net Worth in 2020, Music Success & Romantic Relationships

What is 50 Cent's net worth? Curtis James Jackson III, popularly known as 50 Cent, is a rapper, actor, investor, and entrepreneur. 50 Cent has...

Mariah Carey – Musical Success, Husband & Family Members

Mariah Carey is an American singer, songwriter, record producer and actress. Over the long haul of her music career, she has established her talent...

More From Justrichest

Inside Jay Leno’s Massive Car Collection, Net Worth & Family Life

Jay Leno is without doubt, one of the finest and most mature entertainers America has ever produced. A multiple award-winning stand-up comedian, writer, TV...

12 Biggest and Most Expensive Homes of Extravagant Footballers In 2020

The huge and decent earnings of footballers grant them the audacity to exemplify lavish spending and also enable them to sustain every aspect of...

Jessica Nigri Net Worth: How Much Money Does The Cosplayer Make?

Jessica Nigri is a well-known American cosplayer. For the benefit of those who don’t know, Cosplay is derived from the words costume and play....

20 Strongest and Most Powerful Currencies in The World (Updated 2020)

According to World Atlas, there are 180 currencies in circulation that are recognized by the United Nations across the wide world and these are...

Featured Today

Who Is Sandra Otterson? Her Personal Wealth, Life and Quick Facts

American adult star, Sandra Otterson, currently based in Arizona, USA has is worth about $5 million. Background and Career Sandra Otterson, popular with the name ‘Wifey‘...

Riveting Facts About Hugh Grant’s Ex-Girlfriend Tinglan Hong

The name Tinglan Hong is not one that may generate any attention, rightly because she is not a regular celebrity. Hong is a former...

Who is Zack Snyder’s Daughter Autumn Snyder and Why Did She Commit Suicide?

It could be hard to understand why someone would ever take their own life; leaving their family and loved ones to suffer in a...

Where Is Julianna Rose Mauriello Now And Why Was She Arrested?

If you are well-acquainted with the famous fictional kiddies television series titled Lazy Town; then you’d certainly remember the pink-haired Julianna Rose Mauriello who...

Related Stories