Kanye's Yeezy sneaker empire is worth $1BILLION according to Forbes
'The Lamborghini of shoes': Kanye's Yeezy sneaker empire is worth $1BILLION according to Forbes story on the rapper's comeback from a '$53million debt' - a fortune he's spending on Belgian plaster floors and 'monastic' white walls in his LA home
Kanye West is featured on the cover of the latest issue of Forbes magazine
Forbes estimates revenue for his Yeezy sneaker line will top $1.5B in 2019
West negotiated an unheard-of 15% royalty on wholesale for the shoe
Forbes pegs his pretax income at $150 million over the past 12 months
It is a stunning reversal from three years ago when he said he was $53M in debt
Now he is spending his shoe fortune on special Belgian plaster floors for the Los Angeles mansion he shares with wife Kim Kardashian West and their four kids
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.
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.
West describes his foot line as 'the Lamborghini of shoes', a nod to the matte-black Lamborghini SUV he owns.
Forbes reports that West appeared for its cover photo shoot not once but twice wearing a black hoodie 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.