The 22-time Grammy winner is one of the most successful musicians of all time, but he still makes the bulk of his net worth from his non-music business ventures.
Celebrity
The 22-time Grammy winner lost a significant amount of money after Adidas pulled their contract.
Until recently, almost everything Kanye West touched turned to gold. Ye hit the top of the charts like clockwork, sold out arenas in minutes, and made shoes like nothing anyone has seen before with huge price tags. All of his accomplishments once made him not only a pioneer in several industries but along with a very wealthy entertainer.
But all that came crashing down when West began making controversial public statements, many of which were filled with hate speech towards Black and Jewish communities. He was dropped by the talent agency CAA and lost lucrative partnerships with fashion houses like Balenciaga. On Oct. 25, after many weeks of public outcry, German sportswear company Adidas officially terminated their contract with his Yeezy brand, putting a large dent in his previous ten-figure net worth. Later the same day, Gap announced that they are taking “immediate steps” to remove Yeezy products from their stores.
Let’s take a look at how the artist amassed a net worth into the billions before losing a significant portion of it.
West’s forays into the apparel industry were the primary reason for his previous multi-billion dollar net worth, but it all started with the music. The rapper and designer rank among the bestselling and most successful artists ever when looking at critical acclaim and sales.
When his oft-delayed full-length Donda arrived, West scored his milestone tenth No. 1 album on the Billboard 200, becoming just the seventh musician in U.S. history to reach that mark. In doing so, he joined a club that includes Eminem, The Beatles, Barbra Streisand, and frequent collaborator Jay-Z, with whom he shares one of his chart-toppers. On the Hot 100 in America, West has landed four No. 1s, 20 top 10s, and 135 appearances on the list, the fifth-most of all time.
Throughout his career, West has shifted certified 25.5 million albums in the U.S. and 124 million singles, the fifth-most among all artists in history. That figure expands to an estimated 140 million songs moved throughout the world. A 22-time Grammy winner (out of 75 nominations), West is tied for the tenth-most trophies among all artists, as well as the second-most among rappers, coming in behind only Jay-Z by one award.
In 2020, the Valentiam Group valued West’s music catalog at $110.5 million.
