Kanye West is now officially a billionaire—and he really wants the world to know by zogblog
last summer, delving into his incredible success with Yeezy, he seemed pleased at first. His world-famous wife, Kim Kardashian-West, evenher congratulations, to the positive affirmations of 32,300 of their closest Twitter friends.
Three things became clear from this exercise. First, it reinforces why we put him on the cover in the first place — West, in just a few years, has created a brand that’s challenging Nike’s Air Jordan for sneaker world supremacy. It’s one of the great retail stories of the century. Yeezy is a complicated asset. West owns 100% of it. But it’s also functionally tied, at least for five-plus years based on the documents we saw, to Adidas, which produces, markets and distributes the shoes. There’s also a separate apparel division which we don’t believe makes money. Last year, our sources projected the shoes would finish 2019 with revenue north of $1.5 billion —per recent conversations and internal documents we believe the final revenue number ended up closer to $1.3 billion.
like Royalty Exchange or in large private transactions, can be as low as three, for something faddish like Cardi B’s “Bodak Yellow” to 17 for an evergreen asset like the Eddie Murphy filmA handful of experts surveyed felt West’s interest would fetch a multiple somewhere in the middle of that range, were it ever made available to outside investors.
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