Kanye West reports financials in filing for presidential run
The rapper, designer and entreprenuer, said his largest asset is fashion company Yeezy LLC, worth “over $50 million,” according to the document. The firm’s apparel and footwear arms are also listed to be worth more than $50 million each.Updated: Oct 06, 2020, 18:23 IST
Kanye West reported his financial assets and liabilities in an October filing to the U.S. Office of Government Ethics as part of his run for president.
The rapper, designer and entreprenuer, said his largest asset is fashion company Yeezy LLC, worth “over $50 million,” according to the document. The firm’s apparel and footwear arms are also listed to be worth more than $50 million each. Last year, Bank of America Corp. valued just the sneaker side of Yeezy at as much as $3 billion, according to a document reviewed by Bloomberg.
The value of his stakes in Adidas AG and Nike Inc. are worth as much as $50 million and $25 million, respectively, the filing shows. West also lists liabilities of up to $100 million, the bulk of which are made up of various mortgages.
West announced his run for president via Twitter in July, though he hasn’t secured a spot on the ballot in many states. He has qualified to appear in at least 12 states, including Mississippi and Vermont. West’s platform calls for a culture of life, restoration of faith and police reform. Democrats have accused Republicans of helping the campaign to act as a spoiler to siphon votes from Joe Biden.
At the same time as his run, West has also been vocal about getting a board seat at the companies that have increasingly staked their brands on partnerships with him.
“I don’t have a board seat at Gap, I don’t have a board seat at Adidas,” West posted on Twitter last month. “Black board seats matter.”
Earlier this year, his personal accountant, David Choi, provided an unaudited balance sheet that pegs the rapper’s net worth at $3.15 billion, with the bulk of his fortune tied to Bank of America’s Yeezy valuation, which was done before the pandemic shook up the global economy.