THE FOREFRONT MOVIEBOX

HOLLYWOOD ACTION: AIM
NOLLYWOOD MOVIE: MY MISTAKES.
BOTH AVAILABLE TILL SATURDAY AT 0600WAT.

LIVE COVID-19 GLOBAL CASES AND DEATHS INFOGRAPHICS BY RIGHT AND LEFT BAR.

RELOADED!!! WATCH SHORT NOLLYWOOD SKITS AND COMEDY AT THE SITE'S BOTTOM. MC LIFE AND HOMEOFLAFTA NOW AVAILABLE.

Featured post

Akinwunmi Adesina re-elected as AFDB president

Saturday, 25 April 2020

After commitment to the christian faith, Rapper, Kanye West officially becomes a Billionaire

Following his recent commitment to the Christian faith, Kanye West has officially become a Billionaire, making him the second American rapper to reach that status after Jay-Z.


According to Forbes, ’Ye's Yeezy brand, which he owns in its' entirety and falls under the Adidas umbrella, helped push him over the $1 billion mark.

The publication said they dissected the Chicago rapper's success with Yeezy, while also sharing how they tabulated Kanye's net worth.

Nonetheless, a decent portion of Kanye's net worth can be attributed to his royalty agreement with Adidas. West receives a "royalty around 15% of Yeezy revenue from Adidas. Upon closer inspection, it appears some expenses are carved out of that slice, bringing his actual cut closer to 11 percent. At that rate, he would have received royalties of over $140 million from Yeezy sales last year," the report says.

Kanye West's team provided a statement of the rapper's assets, which were listed as $17 million in cash, $35 million in stocks, $81 million in “buildings and improvements,” $21 million in land, as well as his G.O.O.D. label and publishing rights, which is said to be worth at least $90 million. There were also a sizable deduction for $100 million worth of debts, which included mortgages and advances.

Forbes also noted that they gave Kanye's net worth a "50 percent haircut" due to the illiquidity of his assets and the "the lack of independent backup." The team also deducted $100 million for debts, which included mortgages and advances, putting Kanye's estimated net worth at $1.3 billion.

But Kanye reportedly disagreed with Forbes. "It’s not a billion," he allegedly texted the reporters Thursday night. "It’s $3.3 billion since no one at Forbes knows how to count."

Receive news alert via Whatsapp from The Forefront Media Org, send a message to +2348124620827







No comments:

Post a comment

Disclaimer!!! Opinions expressed in comments do not represent THE FOREFRONT MEDIA ORG's views. All participants are entitled to their opinions. Thank you!!!


Advertise on the Forefront: For advert placement in the blog or advert posts like news updates, reach +2348124620827 [WhatsApp].

Copyright 2020 The Forefront Media Org. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from The Forefront Media Org