Kanye West is no longer a billionaire after being dumped by Adidas, but is still worth $400 million. Here's how he spent his money.
Ezra Shaw/Getty Images
- Major companies have severed ties with Ye in the wake of recent antisemitic comments.
- His net worth has been slashed, per Forbes, but he's still worth $400 million.
- Ye's assets include his music catalog, extensive real estate portfolio, and numerous vehicles.
After a series of antisemitic remarks and "White Lives Matter" stunts, the decision by Adidas to end its deal with Kanye West's Yeezy brand slashed his net worth by $1.5 billion, according to Forbes.
Calculations of the rapper now known as Ye's wealth have long been muddled by his own exaggerations, but Forbes eventually declared him a billionaire in 2020.
He's now lost the long-sought title, but is still worth a healthy $400 million, per Forbes, which ranks him the 2,543th richest person in the world.
This figure rests on Ye's extremely popular music catalog, which is still available on major streaming services, as well as his extensive real estate portfolio, numerous flashy assets, and a 5% stake in ex-wife Kim Kardashian's shapewear brand Skims.
In October, during his brand Yeezy's show at Paris Fashion Week, Ye wore a shirt emblazoned with the words "White Lives Matter" — a phrase which has been linked to various white supremacist groups. Shortly afterwards, he posted an antisemitic tirade on Twitter.
Ye was dropped by big brands, including Balenciaga, Gap, Vogue, and — perhaps most crushingly — Adidas. His record label G.O.O.D. was dropped by Def Jam, per The New York Times, and he's no longer represented by Creative Artists Agency.
Ye did not respond to Insider's request for comment.
Tim Mosenfelder/Getty Images
Ye's income from album sales isn't known, but he's sold an estimated 160 million records — making him one of the world's best-selling recording artists.
He's also still making money from streaming, even in the wake of his recent offensive comments. Ye's music remains available across most major platforms, including Apple Music and Spotify — and that's unlikely to change, per The Los Angeles Times.
Spotify CEO Daniel Ek told Reuters that, although he considered Ye's antisemitic comments "just awful," those messages don't feature in his music, so don't affect his future on Spotify. "It's really just his music, and his music doesn't violate our policy," said Ek.
Although radio airplay is down, per Billboard, Ye's streaming tallies were still strong in the wake of the controversy last year.
In the seven days after October 3, when Ye wore his controversial "White Lives Matter" shirt at Paris Fashion Week, his catalog had an average daily streaming tally of 13.1 million in the US, per Luminate via Billboard.
This figure remained pretty steady even after Ye's antisemitic tirades, which sparked widespread condemnation and prompted major brands to sever highly-profitable ties with him.
Apple Music, Spotify, and Amazon Music did not respond to Insider's requests for comment.
J.P. King Auction Company
In 2020, Ye's team told Forbes that he held $81 million in "buildings and improvements" and $21 million in land — mostly encompassing his various homes.
Standout properties include West's two huge $14 million ranches in Wyoming, which he picked up in 2019. About 100 miles apart, they include a restaurant and saloon, an event venue, numerous horse barns, multiple guest cabins, and a state-of-the-art shooting range.
Following their split in early 2021, Kim Kardashian retained the $60 million Hidden Hills house she'd shared with Ye, but the musician quickly bought another property nearby. By his standards, it was a modest purchase at $4.5 million, per Dirt.
Other purchases have been pricier. In September 2021, per Dirt, Ye splurged $57.3 million on a bunker-style mansion in Malibu.
The concrete property, previously home to financier Richard Sachs, was designed by renowned Japanese architect Tadao Ando and, according to Architectural Digest, is characteristic of Ye's "minimalist style."
Textron Systems
Ye also has a reputation for picking up pricey assets. In 2020, his team told Forbes he held "vehicles" worth about $3.8 million in "vehicles" and in "livestocks" valued at almost $300,000.
One of his most outlandish purchases was a $500,000 super-fast luxury tank, which he's since sold. This was just one element of his wild array of off-roaders, which includes a fleet of amphibious all-terrain vehicles.
Ye also has an extensive collection of supercars, per GQ, including a Porsche 991 and a Lamborghini Urus. He also owns a Mercedes-Benz SLR Stirling Moss — one of just 75 built — as well as his recently modified BAC Mono "Yemobile", per Hypebeast.
The rapper is certainly a big spender, but some of his biggest assets have come in the form of gifts. On his birthday in 2012, Ye received a $750,000 Lamborghini Aventador from Kim Kardashian.
Beyond vehicles, he also splashes the cash on fashion. Way back in 2011, Ye bought a diamond-encrusted timepiece from luxury watchmaker Tiret for $180,000, per Time.
MEGA/Getty Images
Per Forbes, Ye still holds a 5% stake in Skims — the shapewear brand founded by his ex-wife Kim Kardashian.
In an interview with The New York Times, Kardashian said Ye's input was central to shaping the brand's aesthetic — calling him the "ghost creative director."
Skims told The New York Times that Ye has "no active role" at the company, describing him as a "small minority shareholder."
On October 24 Kardashian tweeted: "Hate speech is never OK or excusable. I stand together with the Jewish community and call on the terrible violence and hateful rhetoric towards them to come to an immediate end."
Skims did not respond to a request for comment by Insider.
Contributer : Business Insider https://ift.tt/iJGYWSo
Reviewed by mimisabreena
on
Monday, February 13, 2023
Rating:
No comments:
Post a Comment