AceShowbiz - Kanye West once again is unhappy with Forbes' annual billionaires list. The "N***as in Paris" rapper reportedly believes that the American business magazine is "undervaluing" his $7 billion net worth with its report.
According to Forbes, Ye ranked No. 1,513 with an estimated net worth of $2 billion, thanks to his lucrative Yeezy partnership with Adidas and long-term arrangement with GAP. It didn't sit well with the emcee because it's way too low from his $7 billion worth, according to The Blast.
Sources further told the outlet that Forbes' report made Ye think it's trying to "control and diminish him even at the cost of their own integrity." However, his team has reportedly been told that the magazine's criteria for determining someone's wealth does not take into account the "enterprise value of long-term deals that are in place" but "revenue from last year only."
This was not the first time for the "Donda" artist to voice his displeasure with Forbes. In April 2020, the ex-husband of Kim Kardashian slammed the magazine for not knowing "how to count" as it declared that his net worth was around $1.3 billion. "It's not a billion," he reportedly pointed out. "It's $3.3 billion since no one at Forbes know how to count."
In March 2021, Forbes disputed claims about Kanye being the wealthiest black man in American history. The publication stated that his net worth was "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."
At that time, Forbes claimed Kanye was only worth around $1.8 billion. That made founder and CEO of Vista Equity Robert F. Smith remain the richest black man in the United States with an estimated net worth of $6 billion. As for the richest black person in the world, Nigerian native Aliko Dangote was claimed to be one with a $11.8 billion fortune.
According to Forbes, the numbers reflecting Kanye's estimated wealth were overly optimistic. "[His] wildly optimistic approach to his net worth mirrors the approach used by Donald Trump, who insists the value of his name be included in any net-worth estimate," it stated.
"[The former POTUS], whom we value at $2.5 billion, says his brand has an intrinsic value, regardless of actual revenue," the magazine continued explaining. "[Kanye] and his camp are making a similar argument for businesses attached to the Yeezy name."