The global media company and American business magazine, Forbes has frowned at reports that American rapper, Kanye West is that the richest African-American .
Newsmen report that Forbes focuses majorly on listing and ranking in areas like business, investment, technology, entrepreneurship, leadership and marketing.
The magazine took to its official Twitter account @forbes on Friday.
It wrote, “No, Kanye West isn’t the richest African-American . On Wednesday, multiple outlets reported that Kanye West was the richest Black in America, worth the maximum amount as 6.6 billion dollars’’.
The news comes after Bloomberg reported that his sneaker brand, Yeezy also as Yeezy Gap, which had yet to sell one stitch of clothing have a combined value of the maximum amount as 4.7 billion dollars.
“The publication mentioned without going into full details an extra 1.7 billion dollars in assets and it’s not true, according our calculations.
“Forbes estimates he’s worth less than a 3rd of that, or 1.8 billion dollars. That’s a lot from last May when Forbes first pegged his net worth to be 1.3 billion dollars, but nowhere near as much as the purported 6.6 billion dollars,’’ Forbes said.
The magazine noted that Vista Equity’s Robert F. Smith remains the richest Black within the U.S. with an estimated worth of 6 billion dollars.
It also said that Aliko Dangote of Nigeria with 11.8 billion dollars’ worth was the richest Black in the world.
“The sky-high estimate is that the latest of West’s attempts to inflate his net worth in the past, he said that Forbes was purposely snubbing me.”
“In actuality, it’s nothing personal. The Bloomberg story cites a UBS report on his businesses, an equivalent document Forbes saw earlier this month.
“The bank made variety of assumptions supported projected future earnings, particularly for Yeezy Gap, which hasn’t even been inaugurated yet.
“Bank documents like this are well-known for painting best-possible-scenario future valuations.’’
West had been influential within the 21st-century development of mainstream hip hop and popular music genre .
He was first referred to as a producer for Roc-A-Fella Records in the early 2000s, producing singles for several mainstream artists before he joined a solo career as a rapper.
West released his debut album: “The College Dropout’’ in 2004 to critical and commercial success.
He founded the record label GOOD Music and had released different songs.