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Kanye West Was Worth $2 Billion. Then His Wealth Dropped. Here’s a Look at His Current Net Worth

By Sunayna Kanjilal
Published on : 00:07 PST, Aug 11, 2023
Kanye West Was Worth $2 Billion. Then His Wealth Dropped. Here’s a Look at His Current Net Worth
Cover Image Source: Getty Images | Kevin Winter

Kanye West, also known as Ye, recorded his first composition at the age of 13 and soon made a name for himself in the Chicago music scene where he would often perform with local artists. His years in music and high-profile relationships made him a household name. He also built a fortune of over $2 billion, which tragically dropped to about $500 million in recent times, per CA Knowledge.

His frequent controversial statements were too much for the world to handle. West was removed from Forbes' billionaire list following his anti-Semitic remarks in October 2022. However, Twitter (now known as X) recently reactivated Kanye West’s account (his account was suspended following his remarks). West will not be able to monetize his account and no ads will appear next to his posts, per CNN.

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Getty Images | Kevin Winter
Image Source: Kevin Winter/Getty Images

It was reported that after Adidas severed ties with Kanye West, the sportswear company struggled with the $1.3 billion worth of Yeezy products in stock, as per Digital Music News. However, as per reports by Bloomberg, Kanye is entitled to 11 percent of each sale made by Adidas of any Yeezy product. So, if they successfully sell the inventory they will owe around $143 million to Kanye.

As of August 6, 2023, Adidas had sold the first batch of Kanye West's leftover Yeezy stock and raised $437million, per NME.

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While West's net worth may have slightly risen from $410 million but it's nowhere close to what it used to be before October 2022. His net worth is currently $500 million, per Celebrity Net Worth. Interesting Fact: When West had the billionaire status, he was one of the three richest self-made black individuals in the history of the country.

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Kanye West is still one of the most awarded artists in the world with 24 Grammy wins out of 75 nominations. While his music accounts for most of his net worth, his businesses like Yeezy have also contributed to his fortune. Kanye still owns 100% of the brand and during his collaboration with Adidas, he earned royalty on every dollar the brand made. The company brought in $2 billion per year in revenue and $250 million in profit for Adidas, as per Celebrity Net Worth.

At the very peak of the collaboration, the brand was worth a towering $5 billion in itself.

The rapper lost a number of deals and sponsorships following his comments on Jewish people on social media. Following an uproar over his comments, he was banned from Twitter as he violated the social media platform's policies on hate speech.

 

West's music catalog on the other hand is estimated to get him around $90 million annually. Back in 2019, he was named the highest-paid artist in the field of hip hop and then he was named the highest-paid musician in the world with $170 million in earnings, per Parade. West's breakthrough album, "The College Dropout" sold over 6 million copies. He made a comeback with "Graduation," selling more than 6 million copies.

West's 5th studio album which is considered his best, "My Beautiful Dark Twisted Fantasy," sold more than 1.7 million copies. In 2021, West became the first artist to have 10 studio albums reach 1 billion streams on Spotify, and per estimates, he earned $3,747,643 from the platform as of 2021.

 

West makes a handsome amount from his musical tours, with his Glow in the Dark tour grossing $30.8 million and Watch the Throne tour with Jay-Z netting $75.4 million. The Yeezus Tour grossed $31.8 million and the Saint Pablo Tour netted $52.8 million.  

Kanye's clothing line makes up the majority of his net and the brand raked up close to $1.3 billion of revenue back in 2020. 

West has two ranches in Wyoming worth $14 million. He also owns 4,500 acres of Monster Lake Ranch which has eight lodging units, two lakes one event center, meeting spaces, restaurants, and barns for animals. He once owned a mansion in California with former wife Kim Kardashian. This mansion was featured in Architectural Digest and is known for its minimalist design.

 

Kardashian has agreed to pay around $23 million to buy out his half as she plans to stay with her four kids in the mansion. They also had a Bel Air mansion which the two sold in 2017 for $17.8 million. Two years later in 2019, it was reported that Kanye bought another mansion worth $14 million for his then-wife. It's not clear who owns the mansion currently.

Kanye is now married to Bianca Censori.

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