American rapper Kayne West, has officially been declared a billionaire by Forbes Magazine.
According to a report published Friday by Forbes, a publication known for calculating the net worth of celebrities, the world-famous rapper and fashion mogul has provided documents proving he is worth over $1 billion.
This makes him the second American rapper to reach that status after Jay-Z.
Kayne West has crafted a career as a well-known rapper and singer. However, in recent years Kanye has become a very successful designer with his brand Yeezy becoming a world-famous name.
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.
Kanye's trainer-side of the Yeezy brand has been estimated to be worth a whopping $1.26billion.
As well as being a successful entrepreneur, Kanye is one of the top-selling music artists of the last 20 years.
West's music made up a relatively small portion of that wealth tho. His label GOOD Music, and the rights to his discography were valued at at least $90 million by Forbes.
Much of the rest of West's financial worth resided in assets — $81 million in property and $21 million in land. The enigmatic artist's team listed $17 million in cash and $35 million in stocks.
Even after taking account of the huge debt of $100million he owes and the illiquidity of his asset, the hip-hop icon still boasts an estimated networth of $1.3 billion.
Kanye West meanwhile has courted controversy after he disagreed with Forbes. He claimed he's actually worth much more than that.
"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."