Forbes declares Kanye West a billionaire; rapper slams them for being undervalued

Kanye West has been officially declared a billionaire by Forbes magazine, but the rapper insists he was undervalued him.

The influential magazine says the rapper and fashion designer, who has long coveted the status, provided an eye-catching glimpse into his personal finances.

Forbes valued Kanye West’s net worth at a whopping $1.3 billion.

The figure includes his stake in the Yeezy sneaker line, which Forbes describes as “one of the great retail stories of the century,” at $1.26 billion.

Forbes said the statement of assets supplied to them by West’s team lists $17 million in cash and 35 million in stocks.

Kanye West’s other notable assets, according to his team, are $81 million (£66 million) in property and 21 million in land.

However, the rapper was displeased as he was reported to have allegedly texted Forbes to ask them to change the article after they ‘snubbed’ his wealth.

There is also the matter of the rapper’s music. The 42-year-old is one of the most biggest-selling artists of the last 20 years. In total, his GOOD Music and the rights to his back catalog is worth at least 90 million Forbes said.

The news makes Kanye hip hop’s second billionaire after his former mentor Jay-Z.

That adds up to the $1.3 billion total, the magazine said, placing him above sister-in-law Kylie Jenner, who has a comparatively modest $1 billion net worth, largely from her cosmetics business. However, Forbes, which stressed there was a lack of independent verification for the figures, also listed West as having a debt of about $100 million (£81 million).

“It’s not a billion,” West reportedly texted them. “It’s 3.3 billion since no one at Forbes knows how to count.”

West is said to have texted a reporter it was a “disrespectful article,” that was “purposely snubbing me.“