According to a new Forbes report, the previous figures published by Bloomberg are “hugely inflated”.
Us rapper Kanye West’s net worth is in the headlines once again after a recent report.
According to a Forbes report, the rapper may have given himself the title of “the richest black man in the world,” but the numbers are largely “inflated.”
Bloomberg reported that West’s new net worth was between $5.1 billion and $6.6 billion through its Yeezy brand, which was said to be worth between $3.2 billion and $4.7 billion. It was also believed to be in possession of $122 million in cash and shares with $110 million from its music catalog and other assets worth at least $1.7 billion.
However, Forbes now claims that the figures are hugely inflated, as he recently stated that the figures were simply based on speculation and not on what he actually possesses.
The publication corrected that the rapper’s net worth is around US$ 1.8 billion, a large decrease in the figure that was initially reported.
This came shortly after the musician’s label, Yeezy, was revalued at $1.5 billion instead of the previous valuation of $3.2 billion to $4.7 billion.
According to Forbes’ report, the $970 million issues of Yeezy and Gap’s association are hugely hypothetical as their first collaboration has not yet been launched.
In addition, it was claimed that its US$1.7 billion in assets was also an immensely inflated figure, as the actual number was no more than US$ 160 million.