Despite Kanye West saying otherwise, he is reportedly no longer a billionaire.
Ever since the early 2000s, Kanye West has been able to grow his popularity as a rapper and producer in the music industry.
Due to his rise in popularity and other business ventures alongside music, Kanye has been able to grow his net worth by quite a substantial amount. In fact, as of 2023, he is allegedly worth a whopping $500 million, although different sources will say different numbers (so this isn’t a 100% guarantee).
However, with multiple business revenues, many fans want to know how exactly Kanye has managed to grow his net worth and what he spends his net worth on.
What Is Kanye West’s Net Worth In 2023?
As of 2023, the rapper is allegedly worth $500 million, far less than the billion-dollar net worth Kanye has claimed. The new figure is in contrast to what he was worth a few years ago, which was estimated to be in the region of $4-5 billion, due to his Yeezy partnership with Adidas.
Due to a loss of contract with Adidas, this had caused Kanye’s net worth to fall by quite a significant amount, and he is no longer classed as a billionaire. Even though the evidence was there for this, he still took issue with it, and Kanye even continuously emailed Forbes over them supposedly ‘refusing’ to list him as a billionaire.
The Adidas deal accounted for $1.5 billion of his initial net worth, so when this and various other deals fell through due to his antisemitic comments, which is what led to a loss of earnings, Kanye apparently wasn’t happy that he was no longer classed as a billionaire.
Even when they did list him as a billionaire in 2020, he pushed back on how much Forbes listed him as being worth. They listed him as worth $1 billion, so Kanye emailed them, saying this was incorrect and that he was worth $3.3 billion.
This is something he has done every year, as Kanye hasn’t been happy with Forbes for, supposedly, continuously listing him as being worth lower than he believes to be worth each year.
It even came to a head in 2022 when Forbes didn’t publish Kanye in their annual billionaires list, causing further complaints from the rapper.
How Has Kanye Grown His Net Worth?
Despite Kanye no longer being classed as a billionaire and having lost a few business deals that had made him a billionaire, he has still worked hard to grow his net worth, after initially not having much money when he first started and still has other forms of income to maintain his net worth.
Starting out as a producer in the music industry, Kanye then moved on to writing and creating his own music, resulting in his first album becoming critically acclaimed and winning him his first Grammy Award. His earnings from his music, as well as his label G.O.O.D Music, are said to be in the region of $80 million.
Whilst music is what Kanye became known for, over the years since then he has moved into the world of business and has created his brand ‘Yeezy’. This was at one point worth $5 billion, however, the termination of his Adidas contract cost West a significant amount of money.
Aside from having a business in the fashion industry, Kanye also runs a few other businesses. West owns DONDA (named after his late mother), a creative content company. He also previously owned Fatburger and Tidal, but has since moved away from these businesses.
With all of these extra businesses and co-ownerships, Kanye is said to be worth somewhere around the $400 million mark.
Then there is his investment in real estate. Kanye is said to own roughly $120 million in real estate, which includes a house in Malibu, an estate in Calabasas, two ranches, and a commercial property in Wyoming. On top of this, West also owns his childhood home in Chicago, which he recently finished renovating.
What Does Kanye Spend His Money On?
Despite Kanye no longer being a billionaire, he still has plenty of money to be able to go out and buy stuff. And with many people wanting to look in on the lives of the rich and famous and how they spend their money, many fans have been wondering what exactly Kanye spends his money on.
Aside from his purchases in real estate, Kanye has made some other somewhat smaller purchases. This includes West’s buying Chris Brown a tank truck and buying his now ex-girlfriend Julia Fox a hotel suite full of clothes.
Other recent purchases he has made include Ye’s wedding to Bianca Censori, a controversial trip to Italy with his new wife, and his divorce from ex-wife Kim Kardashian. On top of this, he also has his four children with Kim, who he likely spends money on buying presents for them, along with the essentials.
Other items Kanye spends his money on include various vehicles, including a tank, Lamborghini, Porsche, and Mercedes-Benz. He also buys quite expensive jewelry for himself and others, including a reported $8 million for Kim’s engagement ring.
source: thethings.com
