How Kanye West Went From Bankrupt To Billionaire

Yeezy sneakers made at least three billion dollars in 2019 making kanye west the sole owner of one of the world's most successful fashion brands and it's only getting better in 2015 kanye was declaring himself 53 million dollars in debt and asking mark zuckerberg for money now the rapper is officially a billionaire according to forbes and he's just struck a deal to continue his yeezy brand through a partnership with gap the business mogul is now the highest paid person in hip-hop and he's got big plans ahead like building an entire city in wyoming called yeezy city here's how kanye went from almost bankrupt to a successful billionaire and what he has in store next for his brand kanye west may seem pretty untouchable now with a clothing company that sells out sneakers in only minutes but just a few years ago he was proclaiming he was millions of dollars in debt and asking other billionaires to help him keep his company afloat in 2014 kanye was worth about 30 million dollars a year later he fessed up that money was becoming a bit of an issue he was about 16 million dollars in debt in 2016 that debt climbed to 53 million dollars all thanks to the money he was dumping into his apparel company yeezy with everyone talking about how the hip-hop star could possibly claim to be going bankrupt he took to twitter to ask mark zuckerberg to invest 1 billion dollars in his ideas kanye didn't get a billion from zuckerberg but it turns out that he really didn't need it the next few years ended up being even more successful for yeezy as all that money kanye dumped into his company suddenly became more than worth it in 2019 the bank of america corporation valued the sneaker side of his business at as much as three billion dollars with kanye as the brand sole owner forbes estimates that yeezy alone adds 1.26 billion dollars to the rapper's personal net worth which has been a source of dispute amongst the rappers fans and critics kanye actually spent years trying to convince forbes to recognize his new billionaire status while forbes finally claims he's worth about 1.3 billion dollars as of 2020 the rapper insists he's worth closer to 3.3 billion his personal accountant david choi has estimated it's closer to 3.15 billion still regardless of the exact number it's safe to say kanye is officially a billionaire and he definitely has easy to think kanye west's first high profile sneaker design was with vape back in 2006 when he released the college dropout shoe these shoes often resell for more than four thousand dollars a pair so kanye really has been doing the whole must-have sneaker thing for a long time the first official yeezy shoe line was launched a few years later with nike in 2009 and then brought over to adidas in 2013. kanye's partnership with Nike was cut short because the rapper claimed they didn't pay him any royalties instead his profits were offered to a charity of his choice when Kanye made the switch to Adidas he praised the company for both paying him properly and giving him creative freedom his first shoe with the company was the Yeezy boost 750 which was limited to 9000 pairs and sold out in under 10 minutes in 2015 Yeezy also pivoted to the runway introducing Yeezy season 1 which included support by popular celebrities including Rihanna and of course Kim Kardashian with the creation of Yeezy under Adidas Kanye set his sights on his shoe line becoming just as successful as jordans in terms of both profit and cultural impact and is going pretty well so far Jordan ranked in about 3 billion in annual sales while Yeezy topped 1.5 billion in 2019 about a 50 increase from 2018. kanye's royalties from this impressive sales year are estimated at about 147 million dollars 2020 hasn't been a particularly good year for most retail sales but west's partnership with adidas actually helped to eliminate any negative toll that pandemic might have made on yeezy's profits adidas manufactures and distributes the shoe which are sold mostly online kanye retains creative control over design but adidas is in charge of producing and fulfilling the orders it's also been reported that the company got some money to help them out during the pandemic with yeezy receiving between two million and five million dollars as a paycheck protection program loan to help the company keep its more than 100 employees the adidas easy deal is set to end in 2026 but until then both kanye and adidas are seeing yeezys continue to sell out online with a good possibility that the deal could be renewed and with the help of scooter braun who helped manage kanye's career back in 2016 the yeezy adidas partnership is incredibly profitable for the rapper kanye gets a 15 royalty on wholesale plus a marketing fee for comparison michael jordan is thought to get closer to five percent in royalties for his line kanye has also used his negotiating powers in clout to bring yeezy to the next level and even bigger market the upcoming easy gap collaboration is going to feature apparel for men women and a kid's line called easy gap products will start to roll out in 2021 but kanye's family including his children have already been spotted repping his line thanks to this amazing yeezy deal and his incredibly quick selling sneakers kanye made an estimated 150 million dollars in 2019 almost entirely due to yeezy according to forbes this makes him the highest paid person in hip-hop while his closest competitor jay-z made about 81 million dollars so we know he's got the power of the deal behind him but what is it exactly that makes the yeezy shoe line so successful it's all about wanting what everyone else has and also wanting what you can't have kanye's sneaker selling power comes mostly from selling products in limited numbers which boosts their hype and makes them absolute must-haves for sneaker heads and fashion lovers when his boost 350 sneakers launched in 2015 at 200 a pair they sold out in only one hour it also helps that his equally famous wife kim kardashian west is among his biggest supporters and one of instagram's most followed people in 2018 kim was at the center of the yeezy season 6 campaign stepping out in public wearing his new collection and letting the paparazzi get a few good photos his marriage to the reality star in 2014 was likely a factor in his success as the yeezy boost 350 shoes released in 2015 were some of the brand's most successful and the reality star's entire family rep the line adidas has never officially released yeezy's numbers but in 2016 kanye mentioned that his sneakers were selling out drops of 40 000 in only minutes what's even more impressive is that these were surprise drops of course kanye doesn't just have yeezys to his name but there's no doubt the company has helped him grow his fortune and made his business ventures in other fields possible he's estimated to have more than 200 million dollars worth of other assets including four houses in california as well as wyoming and chicago there's also his impressive music catalog which from the college dropout to jesus king is estimated to be worth about 110.5 million dollars forbes also reports that the rapper has about 17 million dollars in cash 35 million dollars in stock and at least 21 million dollars in real estate and about 3 million 845 162 dollars worth of vehicles now that yeezy is a clear success kanye isn't looking to slow down instead he's planning to grow into a lot more markets that have nothing to do with apparel he's looking to bring the easy name to architecture urban design and hospitality he calls this new move the next frontier of living for humanity his hidden hills mansion that he co-owns with wife kim kardashian already shows off the rapper's distinct design aesthetic that he hopes to bring to stores west and his wife bought the home for 20 million dollars and put about 20 million dollars worth of renovations into the estate with kanye's mother-in-law chris jenner claiming it's worth at least 60 million dollars now kanye's 14 million ranch near cody wyoming is another spot where the rapper wants to show off his plans for the future of yeezy he's been snatching up properties all around this ranch in the hope that he can one day make his own city there he plans to call it yeezy city sometimes also referred to as easy campus connie has at least 12 000 acres of land ready to be developed and has tons of different plans for the next project he wants labs and futuristic offices for his adidas and yeezy employees as well as a place for him to put on his extravagant sunday service he also plans to try to incorporate environmentally friendly design and has talked about aquaphonic waste conversion which is basically p-power he also hopes this yeezy empire will be able to invest in the community and draw new people to cody still kanye can't succeed in everything his recent bid for the us presidency saw him getting on the ballot in only 12 states and securing only 60 000 votes but with yeezy still successful and kanye's big plans for the future it's entirely possible that this once bankrupt billionaire could see his fortune keep growing year after year and with kim kardashian's net worth reaching about 780 million dollars it's entirely possible she'll also be joining her husband in the billionaires club sometime soon one thing's for sure their children are going to be set for life do you think kanye can keep the momentum going would you be willing to buy everything easy from children's clothing to home decor or even visit yeezy city once it's complete .

 Thanks for reading. We'll see you next time ..

Post a Comment

* Please Don't Spam Here. All the Comments are Reviewed by Admin.