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Kanye West's sneaker empire is a billion-dollar enterprise, according to a new cover story on the rapper's business endeavors by Forbes magazine.
Revenue for the Yeezy sneaker line, now with Adidas, is set to top $1.5billion in 2019, and West's pretax income over the past 12 months came in at $150million, according to Forbes.
Yeezy - Line - Nike - Adidas - West
Since moving the Yeezy line from Nike to Adidas in 2013, West has struck what Forbes calls an 'unprecedented deal' for 15 percent royalty on wholesale, plus a marketing fee.
For comparison, Michael Jordan is thought to get royalties around 5 percent on the Air Jordan line, which does annual sales of about $3billion.
Forbes - Reports - West - Cover - Photo
Forbes reports that West appeared for its cover photo shoot not once but twice wearing a black hoodie, despite the urging of its photographers, and that he called the editor to share his concern that the piece would not focus enough on the religious influence on his business.
West's business fortunes mark a stunning reversal from just three years ago in late 2016, when he begged Mark Zuckerberg to invest $1billion in his 'ideas' and claimed to be $53million in debt.
Half - Tour - Los - Angeles - Hospital
Soon after, he cancelled the latter half of a lucrative tour and checked himself into a Los Angeles hospital for over a week with symptoms of sleep deprivation and temporary psychosis, only to emerge in a bizarre meeting with Donald Trump, then the president-elect, at Trump Tower.
Now he is spending his shoe fortune on special Belgian plaster floors for the Los...
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