Kanye West, now legally known as Ye, is no stranger to making bold claims. This week, he’s once again declaring himself a billionaire –– but Forbes disagrees, stating his net worth is far less.
The controversial rapper and fashion mogul posted a statement on Instagram Thursday, Jan. 23, from Eton Venture Services, a business valuation company. According to the post, Ye’s net worth is projected to reach $2.77 billion by 2025. The valuation was based on his music portfolio and sole ownership of the Yeezy brand.
However, Forbes, which tracks celebrity wealth, pegs Ye’s current net worth at $400 million as of Friday, Jan. 24.
Yeezy’s rise & fall
Kanye launched the Yeezy brand in 2009. He partnered with Nike to create the groundbreaking Air Yeezy, making him the company’s first non-athlete to have a signature shoe. In 2013, Kanye left Nike after a royalties dispute and teamed up with Adidas.
By 2015, the Adidas Yeezy line had become a cultural phenomenon, reportedly generating billions in revenue for Adidas. Yeezy sneakers often sold out within minutes, solidifying Kanye’s status as a fashion icon.
In 2022, the lucrative Adidas partnership came to an abrupt halt when Kanye made a series of antisemitic remarks. Adidas then terminated the deal and publicly stated it “does not tolerate hate speech.”
The fallout was swift. Forbes downgraded Kanye’s billionaire status, citing the loss of the Adidas deal as a major factor in his financial decline. Adidas has since cleared out much of the remaining Yeezy inventory.
What’s next for Ye and Yeezy?
Despite the controversies, Kanye has hinted at new plans for Yeezy. However, without the backing of a major partner like Adidas, the brand’s future remains uncertain. Kanye’s financial claims may reflect ambition, but they continue to be met with skepticism.
