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Kanye West is not the richest black man in America — Forbes claims

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Global media company, Forbes has denied claims that veteran American singer and songwriter Kanye West is the richest black man in America.

Kanye West is not the richest black man in America — Forbes claims

Recall that the whole entertainment industry was left in a frenzied mood some hours ago when Kanye West was reported as the richest black man in America.

According to reports, the billionaire entrepreneur is currently worth $6.6 billion.

However, Forbes via a post on their official Instagram account stated that the singer is no where near the top as the richest black man in America.

Forbes wrote on their page:

No, Kanye West is not the richest Black person in America. On Wednesday, multiple outlets reported that West is the richest Black person in America, worth as much as $6.6 billion. The news comes after Bloomberg reported that his sneaker brand Yeezy—as well as Yeezy Gap, which has yet to sell one item of clothing—have a combined value of as much as $4.7 billion. The publication mentioned, without going into full detail, an additional $1.7 billion in assets. It’s not true, based on our calculations. Forbes estimates he’s worth less than a third of that, or $1.8 billion. That’s a big jump from last May when Forbes first pegged his net worth to be $1.3 billion, but nowhere near as much as the purported $6.6 billion. Vista Equity’s Robert F. Smith remains the richest Black person in the U.S., worth an estimated $6 billion, while Aliko Dangote of Nigeria, worth $11.8 billion, is the richest Black person in the world. The reports are based on the magical thinking around sales that don’t exist yet. Forbes’ much more grounded number is based on current revenues—not theoretical future expectations.

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