Kanye West's Yeezy sneaker empire worth USD 1 BILLION, gets him out of USD 53 million debt

Kanye West who was in USD 53 million debt just three years ago is now the owner of a billion-dollar Yeezy empire. Find out more
Celebrity Style,Kanye West,Yeezy,billionKanye West's Yeezy sneaker empire worth USD 1 BILLION, gets him out of USD 53 million debt
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Kanye West’s Yeezy empire now values USD 1 billion, according to the cover story by Forbes magazine. The billion-dollar enterprise was in debt of USD 53 million just 3 years ago. He is spending a major chunk of his earnings on his new LA home that he shares with his wife and internet sensation, Kim Kardashian.

 

The line which was under the umbrella of Nike was moved under Adidas back in 2013. With the switch, Kanye charges a whopping 15% royalty on wholesale plus a marketing fee. While 15% may seem less to you, Michael Jordan is thought to get royalties around 5 per cent on the Air Jordan line, which approximately does USD 3 billion in sales annually. Now, that really is something!

 

The rapper describes his line as ‘The Lambhorgini or shoes’ as it is set to become a USD 1.5 billion empire before the end of 2019. This seems like a dream, after looking at the USD 53 million dollar debt he was in just three years ago. 

A lot of his fortune is invested in their Hidden Hills mansion where experts were flown in from Europe just to plaster the house with Belgian floors. 

 

Adding to it, Kim Kardashian told Forbes, “The house was all him, I've never seen anyone that pays such attention to detail.”  

Talking about his billion-dollar empire, Kim took to her Instagram stories to express her feelings about the news. She wrote, "Kanye on the cover of Forbes! So incredibly proud of my husband! I watch every day how hard he works and how much of his heart and soul he puts into his business, every idea and product that he creates. 

It's of no surprise to anyone who works with or is close to Kanye that he has been able to turn millions of dollars in debt into a billion dollar empire in only 4 years - 100% on his own terms while owning 100% of his business. He inspires me every single day and I'm so happy he's finally getting the recognition and credit that he deserves".

Forbes estimates West's net worth at USD 240million but says that he is on track to be a billionaire someday.

What are your thoughts about it? Let us know in the comments section below.

 

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