Kanye West has made $150 million off his music and Yeezy merchandise this year alone. Here's how the highest-paid hip-hop artist of 2019 made his fortune - and how he spends it.
- Kanye West has surpassed Jay-Z to become the highest-paid hip-hop artist in the world, Forbes reported.
- West has brought in an estimated $150 million in 2019, which is almost double the approximately $81 million Jay-Z (a distant No. 2) brought in the same year.
- While West's exact net worth is unknown, estimates range between $240 million and $1 billion.
- The majority of West's fortune comes not from his music, but from his footwear and apparel brand, Yeezy, which is expected to top $1.5 billion in sales in 2019, according to Forbes.
- The hip-hop artist spends his millions on luxury cars; lavish gifts for his wife, Kim Kardashian West, and their children; and an impressive real-estate portfolio that includes a $14 million Wyoming ranch.
- Visit Business Insider's homepage for more stories.
Kanye West has surpassed Jay-Z to become the highest-paid person in hip-hop, Forbes reported.
West has made an estimated $150 million in 2019 - almost double Jay-Z's $81 million, according to Forbes. The publication looked at pretax income from June 2018 to June 2019 before deducting fees for agents, managers, and lawyers.
But the majority of West's fortune doesn't come from his music, Forbes reported. His footwear and apparel brand, Yeezy, is expected to bring in more than $1.5 billion in sales in 2019.
Here's a look at how West has built and spends his multimillion-dollar fortune.
Kanye West is officially the highest-paid person in hip-hop, according to Forbes. The rapper raked in an estimated $150 million in 2019.
For the first time, West surpassed Jay-Z as the highest-paid person in hip-hop.
Most of West's fortune didn't come from his music, according to Forbes. He makes the majority of his money from his footwear and apparel brand, Yeezy.
Yeezy's success has stemmed in part from West's unique marketing strategies.
West is known for hosting what he calls "Sunday Service," an invitation-only spiritual gathering and performance usually held in Southern California.
Despite his current success, West's personal finance journey has been somewhat tumultuous.
West and his family live in a palatial $60 million mansion in Hidden Hills, California.
Before that, the couple lived in a 9,000-square-foot mansion with six bedrooms and eight bathrooms in Bel Air Crest, a section of the ritzy Bel Air neighborhood.
The hip-hop artist has dropped millions on real estate around the country. In New York City, his former Soho apartment (bought by West in 2004 and sold in 2018) just went back on the market for $4.7 million.
Days before his one-time Manhattan apartment hit the market, West bought a $14 million ranch in Wyoming.
West also owns 300 acres of land in Calabasas, which neighbors the Hidden Hills gated community that he and his family currently call home.
In a 2018 interview with radio host Charlemagne Tha God, West said he wanted to be "one of the biggest real estate developers of all time, what Howard Hughes was to aircrafts and Henry Ford was to cars…"
West branched into commercial real estate earlier this year, when it was reported that he would invest $1 million into a historic Chicago theater.
West goes all out buying lavish gifts for his wife.
Kardashian West's 20-carat diamond engagement ring, worth an estimated $4.5 million, is among the most expensive celebrity engagement rings.
In August 2018, West reportedly bought his wife a neon Mercedes truck.
That Christmas, West reportedly surprised his wife with a $14 million Miami apartment.
The hip-hop artist also spends extravagantly on his children.
West is also reported to have quite the luxury car collection.
According to Auto World News, West has been photographed several times driving an Aston Martin DB9.
He's also been spotted driving a Mercedes McLaren SLR.
Although the exact extent of West's fortune is unclear, Kardashian West suggested last year that her husband was probably a billionaire.
- This Indian couple plans to get married in a Hogwarts-themed metaverse to beat the pandemic's restrictions
- Here are some of Netaji’s inspirational quotes as India remembers its valiant fighter
- Lifecycle of cryptocurrencies – From creation to trade and destruction
- Reliance Industries net profit more than triples in the last eight quarters to $2.8 billion
- Reliance Retail earns $1.3 billion more than its best-ever quarter