Kanye West Billionaire: Rapper Discloses Staggering Wealth in Official Documents
The staggering wealth of Kanye West has been recently disclosed in a new federal filing on Monday.
The 43-year-old admitted to being worth about "hundreds of millions of dollars."
Last month, West claimed that he will be worth $5 billion after signing a 10-year partnership with Gap.
In Federal Election Commission's official submitted documents obtained by Business Insider, West has reported stakes of $50 million in three of his Yeezy companies, Yeezy LLC, Yeezy Apparel LLC, and Yeezy Footwear LLC.
His partnerships with Nike and Adidas are also worth $30 and $75 million, respectively.
The dad-of-four's financial interests are also in other industries such as music to construction to marketing. These industries also gave West leadership positions such as trustee, director, and manager at about 29 different entities.
Half of those entities are located in Cody, Wyoming, where he owns a massive ranch and currently his home base.
Over the past year, he was able to generate an income of $5 million from eight of those entities.
Political hopefuls must submit financial documents periodically to the FEC, although these documents don't usually go in-depth.
Kanye's Debts
However, the "Jesus Walks" rapper also has debts.
Kanye West lists liabilities of about $120 million for mortgages.
When he announced that he was also running for the presidency in July, his entire campaign was self-funded.
Business Insider revealed that he spent over $6.7 million worth of loan for his White House bid.
West struggled to get on the ballots of many states.
He spent $480,000 to get himself in the ballot of Iowa and paid $4.5 million to Let the Voters Decide to allow the petitioning group to help his campaign.
West also shelled out $325,000 and $300,000 for Ohio and Virginia to get himself on the ballot but didn't make it.
Kim's earnings
The other half of KimYe's earnings have not been disclosed.
However, it is a well-known fact that Kim Kardashian has a net worth of $900 million.
As per Business Insider, the Grammy-winning rapper availed an "obscure provision in federal law" that would allow him not to disclose his spouse's finances, which most political candidates do.
However, the exception can be nulled in the case of divorce, separation, and "unusual circumstances."
Topping Forbes' lists
Kanye West topped Forbes Magazine's list as the highest-paid musician of 2020 and the highest-paid celebrity overall.
He came in at $170 million, who was more than double than the second-highest-paid musician on the list, Elton John.
The "All of the Lights" hitmaker previously had a debate with Forbes when they named him a billionaire.
According to the article, Kanye West has a net worth $1.26 billion, not $3.3. billion, as he allegedly said.
He texted Forbes, saying, "It's not a billion. It's $3.3 billion since no one at Forbes knows how to count."
Kanye West COVID
Meanwhile, Kanye West's wife Kim Kardashian revealed what it felt like taking care of the rapper when he had the coronavirus early this year.
In an interview with Grazia Magazine, the 39-year-old said that West had it at the time when "nobody knew what was going on."
She called the experience "so scary" and "unknown" as she juggled taking care of West while being a mom to their four kids.
The "Keeping Up With the Kardashians" star would change her husband's sheets and "help him get out of bed when he wasn't feeling good."
"It was a challenge because it was so unknown," the KKW Beauty mogul confessed. "Changing his sheets with gloves and a face shield was a scary time."
