Dangote is the richest black man in the world, what about Kanye West?

The global media company and American business magazine, Forbes, has refuted reports that American rapper Kanye West is the richest black American, revealing that Nigerian Aliko Dangote is the richest black man in the world. Forbes focuses primarily on listing and ranking in areas such as business, investment, technology, entrepreneurship, leadership and marketing.

In recent days, several US media outlets have reported that rapper Kanye West has become the richest black American. Except that Forbes has denied this information. He revealed this on Friday in a tweet via his official Twitter account @forbes. He wrote: « No, Kanye West is not the richest black American. On Wednesday, several media outlets reported that Kanye West is the richest black person in America, worth up to $6.6 billion (CFA3.63 trillion).

« The news comes after Bloomberg reported that his trainer brand, Yeezy, as well as Yeezy Gap, which had yet to sell a single stitch of clothing, were worth a combined $4.7 billion (more than 2.58 billion FCFA). The publication mentions, without going into detail, an additional $1.7 billion (FCFA 935 billion) in assets, and this is not true, according to our calculations. Forbes estimates that he is worth less than a third of that amount, or $1.8 billion (CFAF 990 billion). That’s a big jump from last May, when Forbes first pegged his net worth at $1.3 billion (CFAF 715 billion), but nowhere near the $6.6 billion (CFAF 3.63 trillion) assumed, » Forbes said.

The magazine noted that Vista Equity boss Robert F. Smith remains the richest black person in the United States with an estimated worth of $6 billion (FCFA 3.3 trillion). It also said Aliko Dangote of Nigeria, with a value of $11.8 billion (FCFA 6,490 billion), was the richest black person in the world.

« The exorbitant estimate is the latest of West’s attempts to inflate his net worth in the past, he said « Forbes was deliberately snubbing me ». In reality, it’s nothing personal. The Bloomberg story cites a UBS report on its activities, the same document Forbes saw earlier this month. The bank made a number of assumptions based on projected future earnings, particularly for Yeezy Gap, which hasn’t even opened yet. Bank documents like this are well known for illustrating the best possible future valuations, » Forbes added.