Just four years ago, he was $53 million in debt and got lambasted by the press and public alike. A few hours ago, Forbes officially declared the narcissistic mogul a billionaire with a net worth of $1.03 billion (£1.06 billion). Making him the second officially recognised Hip Hop artist in that bracket after Jay-Z.
How did he turn it all around in such a short time?
The power of passive investment and diversification of streams of income are responsible for his meteoric rise to the seat at that table.
Music alone simply wasn’t enough.
Despite been declared a billionaire, West wasn’t happy with the figures, claiming he is worth closer to $3.3 billion. Forbes then release how they reached their valuation to further buttress their claim Kanye is not worth what he claims he is.
His Yeezy line alone which Kanye own 100% is valued at $1.26 billion, making his shoe line at par with Jordan and Nike in sales.
His G.O.O.D music catalogue is worth $90 million (£75 million), stocks and shares in companies like Disney was valued at $35 million (£30 million), and statement from his account team showed $17 million cash (£14 million) in the bank.
Other documents showed West owned $21 million (£18 million) in land and $81 million(£68 million) in real estate property.
Plus he still perform on stage where he commands an earned income of up to $1 million for 2 hours’ work.
Forbes also listed his debt to be in region of $100 million (£82 million).
The lesson learned here is while we cannot all be a Kanye, but success leave clue, and the greatest clue of all is how well diverse his revenue streams are. We can do the same in our little way.
Well done, Mr. West!!