Forbes has denied reports that Kanye West is now the richest black man in America’s history after his businesses were valued at $6.6 billion.
Multiple media outlets had reported that Kanye West is now worth $6.6 billion after Bloomberg reported that his sneaker brand Yeezy as well as Yeezy Gap have a combined value of as much as $4.7 billion
However, Forbes says “it’s not true.”
The publication adds: “Based on our calculations. Forbes estimates he’s worth less than a third of that, or $1.8 billion.”
Forbes further stated that “reports that the celebrity is worth nearly $7 billion are based on the magical thinking around sales that don’t yet exist. This is why he’s currently worth less than one-third of that.”
Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., with an estimated net worth of $6 billion. Nigeria’s Aliko Dangote remains the richest black person in the world with a net worth of $11.8 billion.
Clearing the air, Forbes wrote on Instagram: