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Kanye West Becomes Richest Black Man In U.S

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Music producer, rapper, and fashion mogul Kanye West is the richest African American in the United States. Bloomberg reports that West is officially worth $6.6 billion, making him the richest Black man in America’s history.

Around the same time last year, West became a certified billionaire with the help of his successful apparel and sneaker brand, Yeezy, and a new multi-year contract with Gap (NYSE: GPS +1.64%).

According to Business of Fashion, the Yeezy brand is valued at $3.2 to $4.7 billion. As for the new Yeezy Gap line which is set to be released later this summer, the new venture is expected to be worth more than $970 million.

Since West remains the sole owner of the Yeezy company, much of his personal net worth is attributed to his recent business decisions and the $1.7 billion that he pockets from additional assets, including his significant investment into his soon-to-be ex-wife’s Skims label.

An unaudited balance sheet of West’s finances has also revealed that West has $122 million in cash and stock, while his entire music catalogue is worth $110.5 million.

The Yeezy brand has seen a large boom despite the economic downturn caused by the pandemic. West’s sneaker sales at Adidas (XETRA:ADS.DE -0.87%) have seen an uptick of 31 percent from last year, bringing in $1.7 billion in annual revenue. By the end of 2021, the Yeezy designer is expected to rake in $150 million from its Gap partnership.

Considering the rapper claimed to have been $53 million in debt less than half a decade ago, his feat is worth the recognition. However, it still remains a mystery as to how West’s billion-dollar company was eligible for a loan of $2 to $5 million under the Small Business Administration’s Paycheck Protection Program.

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[PHOTOS] Actress Kemi Afolabi Begins Lupus Treatment At US Hospital

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Nollywood superstar, Kemi Afolabi, on Thursday announced that she has begun treatment for her year-long illness, lupus.

The actress had disclosed that she was battling the autoimmune disease in early 2022.

Sharing pictures of herself at the hospital on Thursday, the actress noted that she was undergoing treatment at The John Hopkins Hospital in Maryland, United States.

She wrote, “I commenced my lupus treatment journey today 06/30/2022 with @hopkinsmedicine Alihamdulilah.

“Some beautiful souls made this happen, God bless you all. Wish me luck. #warrior.”

In May, some celebrities launched a fundraiser to aid Afolabi’s treatment.

In her appreciation post, she mentioned Mercy Aigbe, Funke Akindele-Bello, Toyin Abraham, Yomi Fabiyi, Akin Olaiya, Adeoti Kazim, Shola Kosoko, Wumi Toriola, and others, as sponsors of the fundraiser.

She had then revealed that the treatment, which will take place abroad, has been scheduled to begin in June 2022.

Following Afolabi’s announcement of her diagnosis, the actress was said to have visited a popular church for healing.

Reacting to the claims, Afolabi noted that she was a devout Muslim and had a personal relationship with Allah, as she asked her fans to debunk the reports.

She noted that since the news of her illness became public, she had “gotten reports of different misinformation and false narratives out there.”

Afolabi had then cleared the air on the purported visit, stating that she had never attended any church for healing.

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JUST IN: Funke Akindele’s Husband, JJC Skillz Announces Marriage Crash

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JJC Skillz, Nigerian musician and actress, Funke Akindele-Bello’s husband, says he has separated from his wife.

JJC Skillz broke the news in a post on his Instagram page on Thursday. He revealed that he moved out of the house three months ago.

He wrote: “Dear Friends and family, I need to let you know that Funke and I have separated. While it lasted we shared a lot of things together and have created 2 beautiful children.

“The last two years have been extremely difficult for us. I know I have tried my best to fix things but I believe it is beyond repair now. Three months ago and at Funke’s insistence, I moved out of the house and apart from AMVCA have not been able to get Funke to sit down in an amicable manner to discuss the future of our relationship.

“I’m making this announcement so that the public is clear that we both are pursuing separate lives. We still have issues that need to be addressed such as the custody and wellbeing of our children which is paramount as well as business interests that need to be disentangled but I have no doubt that these will be resolved one way or the other.”

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BREAKING: R. Kelly Bags 30 Years Jail Term Over Sex Abuse

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US singer R. Kelly has been sentenced to 30 years in prison for using his status to run a scheme to sexually abuse children and women.

In September, a jury in New York convicted the R&B artist, 55, of racketeering and sex trafficking crimes.

The Chicago native – whose real name is Robert Sylvester Kelly – was also fined $100,000 (£82,525).

He currently faces separate criminal charges in three other cases.

Kelly – known for hit songs like I Believe I Can Fly and Ignition – was found to have used his celebrity status and sphere of influence to lure women and children into sexual abuse over two decades.

At his sentencing on Wednesday, US District Judge Ann Donnelly said the celebrity had used sex as a weapon, forcing his victims to do unspeakable things and saddling them with incurable diseases.

The sentence, she said, would act as a deterrent from committing similar crimes in the future.

Jurors at Kelly’s six-week trial in Brooklyn heard how he trafficked women between different US states, assisted by managers, security guards and other members of his entourage.

The court also heard how Kelly had illegally obtained paperwork to marry singer Aaliyah when she was 15 in 1994, seven years before the singer died in a plane crash.

The certificate, leaked at the time, listed Aaliyah’s age as 18. The marriage was annulled months later.

Federal prosecutors had recommended that Kelly be sentenced to more than 25 years in prison, given the seriousness of his crimes and “the need to protect the public from further crimes”.

But his lawyers called for a sentence of 10 years – the mandatory minimum for his conviction – or less.

They portrayed Kelly as growing up poor in a household rife with domestic violence and suffering sexual abuse from a young age.

Credit: BBC News

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