Kanye West has thanked Jesus after revealing he is now worth $5 billion.
The new Christian music star, who launched his own version of a church service in 2019, Kanye’s Sunday Services, has made his fortune from his own music label, as well as licensing his shoe brand to Adidas.
The 43-year-old rapper used Twitter to advise his followers of having a net worth of $5 billion after being millions in debt.
“From $53 million in debt to a net worth of $5 billion in 4 years,” he tweeted. “Thank you, Jesus. I know I fall short, but I repent. I am fully in service to our Lord and Savior Jesus Christ. We are building schools of the future. Thank God for providing the increase.”
Kanye recently launched an online merchandise store and campaign site during the Vice Presidential Debate between Mike Pence and Kamala Harris, which included $60 hats and $160 hoodies.
It is reported that the claim of his net worth comes as Business Insider reported this week that three of his companies were valued at $50 million. Business Insider reported his partnerships with Adidas and Nike are worth a combined $30 to $75 million.
He has also previously reported that he has up to $100 million of debt from mortgages.
This information coincides with that of what Forbes magazine has stated. In April of 2020, Forbes announced West as a billionaire. West has instead licensed his shoe brand, Yeezy, to Adidas, who use their universal size and strength to produce and sell his shoes. For this, West reportedly receives a 15% royalty.
Forbes calculated that this would come in at $140 million per year, and on 10 x earnings, puts him into the billionaire league. This is also not to mention the properties he owns and the royalty fees he receives annually from his music label, GOOD, where h has a similar licensing deal with Universal Music.
West is a controversial figure, even in Christian circles. However, he has also done a lot of good, recently helping pay for meals at LA’s Dream Center, where Covid-19 has seen unprecedented demand for their services, and also donating more than $2 million to cover legal costs and tuition fees for George Floyd’s daughter after he was killed whilst being arrested by police officers.
Danielle Jarvis
Soul Purpose
Matthias Browning
