When Kanye West tweeted in April that he makes more money selling shoes than Michael Jordan, he was scoffed at.
Michael Jordan is a billionaire! You’re not even on the top ten highest paid hip-hop artist list. You’re wife makes more than you. You’re a millionaire with a below 700 credit rating.
— FedUp_Mom (@Fedup_Mom) April 25, 2018
Now he says he’s almost a billionaire, thanks to his Yeezy fashion brand.
In partnership with Adidas, Kanye’s Yeezy company just received a valuation that puts their total worth close to $1.5 billion, unidentified sources told The Blast.
Two years ago, Adidas cemented an existing relationship with Kanye to form Adidas + Kanye West, a Yeezy-branded entity creating street and sport footwear, apparel and accessories. “The alliance makes history as the most significant partnership ever created between a non-athlete and an athletic brand,” Adidas said at the time in a press release. “It will redefine the future, uniting Adidas’ technical, innovative expertise and capabilities with the visionary imagination of West.”
Kanye is a majority stakeholder in Yeezy, which puts him “right at the line of being considered a billionaire,” according to The Blast.
It’s impossible to verify every claim — or perhaps any claim — Kanye makes about the Yeezy business, since its financial information is “baked into both the overall Adidas business and West’s own corporation,” GQ reported in April. But GQ tried.
On the July 30 Jimmy Kimmel show, Kim Kardashian West said her husband, Kanye “is close to joining the three-comma club, and it’s all thanks to Yeezy,” Hollywood Unlocked reported.
Kanye has had potential buyers for the company and received offers for investment but he has not decided yet how much, if any, he wants to part with, according to The Blast.
Kim was talking about her sister Kylie Jenner‘s financial success when Kimmel asked her if she was close to billionaire status.
“I would say my husband is,” Kim replied. “That makes me one, right?”
In April, Kanye tweeted: “Yeezy will hit a billion dollars this year. It is the 2nd fastest growing company in history. It is a unicorn on its way to becoming a decacorn.”
We have 160 positions to fill by the end of the year. Yeezy will hit a billion dollars this year. It is the 2nd fastest growing company in history. It is a unicorn on its way to becoming a decacorn.
— KANYE WEST (@kanyewest) April 25, 2018
At the time, many scoffed at the bombastic statement, Page Six reported. Kanye got dozens of tweets from job applicants.
where can I send my resume? is this a linkedin type thing or indeed?
— jack ineson (@Jineson44) April 25, 2018
We know @kanyewest likes the best – Indeed is the world's number one job site and we'd be happy to help with his hiring needs pic.twitter.com/d9QzSz3HxS
— Indeed (@indeed) April 25, 2018
An article from 2016 looking at the economic impact of Yeezy on Adidas.https://t.co/q6YGydQQg2 pic.twitter.com/joCwCj3QLp
— The #1 Kanye podcast, Watching the Throne (@KanyePodcast) April 25, 2018
In April, GQ tried — mostly unsuccessfully — to fact-check Kanye’s claims:
“Kanye says he’s the most well-paid man in footwear—and plenty more. How much can we believe?”
For example, it was true and verifiable that Kanye hired Deborah Palmer Keiser, former head of supply chain from the Gap, to work for Yeezy.
However, GQ said it was unable to verify these claims by Kanye:
A decacorn is the word used for those companies valued at more than $10 billion.