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Kanye West may very well be having the best week ever! According to Forbes, the rapper is now worth 1.3 Billion dollars, with a greater net worth more than other hip-hop moguls like Jay-Z and Diddy. His fortune in large part has been attributed to his fashion line, Yeezy, of which he owns 100% of; followed by his music, real estate, and stocks!

via Forbes

yeezy fashion line

Yeezy is a complicated asset. West owns 100% of it. But it’s functionally tied, at least for five-plus years based on the documents we saw, to Adidas, which produces, markets and distributes the shoes. There’s also a separate apparel division that we don’t believe makes money. Last year, our sources projected the shoes would finish 2019 with revenue north of $1.5 billion (Adidas would not comment then, or now)—per recent conversations and internal documents, we believe the final revenue number ended up closer to $1.3 billion.

Our sources told us last year that West’s agreement calls for him to receive a royalty around 15% of Yeezy revenue from Adidas. Upon closer inspection, it appears some expenses are carved out of that slice, bringing his actual cut closer to 11%. At that rate, he would have received royalties of over $140 million from Yeezy sales last year. 

West’s aggressive $3 billion self-appraisal is clearly based on the idea that the business is infinitely portable. It’s not. Taking Yeezy away from Adidas seems almost prohibitively cumbersome, if not contractually impossible. A safer way to value it: as a royalty stream, like music publishing or film residuals. Multiples, based on services like Royalty Exchange or in large private transactions, can be as low as three for something faddish like Cardi B’s “Bodak Yellow” to 17 for an evergreen asset like the Eddie Murphy film Trading Places. 

A handful of experts surveyed felt West’s interest would fetch a multiple somewhere in the middle of that range, were it ever made available to outside investors. The convenience of the Adidas setup trumps publishing catalogs, where owners must actively collect payments from a complex web of sources—or outsource that labor to someone else in exchange for an administration fee. “His place in the capital stack is a preferred place to be,” says Royalty Exchange chief Matt Smith, who pegged the multiple at between 10 and 12.

Conservatively, as we typically are with such figures, a 10x multiple, applied to West’s Yeezy cut of $140 million, makes his stake worth about $1.4 billion. But that’s a private, highly illiquid $1.4 billion—our rule-of-thumb for private assets like that is to lop off at least 10%. That’s $1.26 billion.

Shouldn’t West have also socked away hundreds of millions more, given his incredibly successful recording career and burgeoning Yeezy dividends? If you spend like a superstar, not necessarily. (The guy owns a tank.) The statement of assets supplied by his team yesterday lists just $17 million in cash and $35 million in stocks.

The biggest assets, according to his internal team, are $81 million in “buildings and improvements” and $21 million in land. His homes are surely most or all of that. The Los Angeles mansion Kanye West shares with his wife and four children is itself a work of art—down to the floors, made of a special Belgian plaster that, if scuffed, can be fixed only by summoning a crew from Europe. “The house was all him,” Kardashian West told me last year. “I’ve never seen anyone that pays such attention to detail.” A pair of $14 million Wyoming ranches—nearly 10,000 acres between the two of them—has been taking up more cash.

kanye west

We have nothing but our congratulations to give to Kanye. Apparently he has been making serious “money moves,” as Cardi B would so affectionately state. Still, though, don’t you hate it? (LOL)

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“Hollywood” Actor, Jeremy Pope, To Star as Sammie Davis, Jr. in Biopic!

The breakout star of Netflix’s hit series, “Hollywood,” Jeremy Pope, is winning! The Emmy-nominated actor is poised to star in a biopic on the life of legendary singer, Sammie Davis, Jr!

The biopic will be produced by Pose writer and trans advocate, Janet Mock, and filmmaker, Lena Waithe. The film will most likely air on Netflix as Janet has a multi-picture deal with the streaming giant. 

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jeremy pope sammie davis jr

The breakout star of Netflix’s hit series, “Hollywood,” Jeremy Pope, is winning! The Emmy-nominated actor is poised to star in a biopic on the life of legendary singer, Sammie Davis, Jr!

The biopic will be produced by Pose writer and trans advocate, Janet Mock, and filmmaker, Lena Waithe. The film will most likely air on Netflix as Janet has a multi-picture deal with the streaming giant.

via Deadline

jeremy pope pose season 3

Jeremy Pope

Another pic package has Emmy-nominated Hollywood star Jeremy Pope poised to play Davis Jr with Janet Mock (Hollywood and Pose) directing a drama about the interracial love affair between the entertainer and actress Kim Novak, who at the time was the top box office draw in Hollywood. Jonathan Glickman (the upcoming Aretha Franklin film Respect) and Jon Levin are producing that one. It looks like Netflix will get first crack at that one with Mock’s deal there, and the intention is to start in April.

Jeremy is an amazing actor! We loved him in Hollywood and we are sure he will do Sammie Davis, Jr. justice. Also, as we previously posted you can expect to see him in the upcoming third season of Pose as “Christopher,” Blanca’ Evangelista’s (MJ Rodriguez) love interest.

What do you all think of Jeremy taking on this role of a lifetime? Sound off in the comment’s section below!

 

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ICYMI! Jussie Smollett Makes His Feature Directorial Debut w/ “B-Boys Blues!”

Jussie Smollett is back in the news, and not for news surrounding his alleged hate crime hoax. Instead the controversial actor is making his feature film directorial debut with an adaptation of James Earl Hardy’s novels, “B-Boy Blues!”

B-Boy Blues follows the tumultuous relationship between Mitchell Crawford, a 27-year old journalist, and Raheim Rivers, a 21-year old bicycle messenger and B-boy (banjee boy). They meet in a gay bar in Greenwich Village in the summer of 1993. The B-boy hangs out on street corners, cool and menacing. Raheim is the third B-boy in Mitchell’s life, but underneath the former’s tough exterior, Raheim is smart and talented and a loving parent to his five-year-old son. But Raheim has a violent streak. B-Boy Blues spawned a series that has sold millions worldwide and remains a staple within the black LGBTQ+/Same Gender Loving community.

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jussie smollett b-boy blues

Jussie Smollett is back in the news, and not for news surrounding his alleged hate crime hoax. Instead the controversial actor is making his feature film directorial debut with an adaptation of James Earl Hardy’s novels, “B-Boy Blues!”

via Deadline

b-boy blues

B-Boy Blues follows the tumultuous relationship between Mitchell Crawford, a 27-year old journalist, and Raheim Rivers, a 21-year old bicycle messenger and B-boy (banjee boy). They meet in a gay bar in Greenwich Village in the summer of 1993. The B-boy hangs out on street corners, cool and menacing. Raheim is the third B-boy in Mitchell’s life, but underneath the former’s tough exterior, Raheim is smart and talented and a loving parent to his five-year-old son. But Raheim has a violent streak. B-Boy Blues spawned a series that has sold millions worldwide and remains a staple within the black LGBTQ+/Same Gender Loving community.

jussie smollett

This is actually a great and strategic move for Jussie career wise. Due to the hate crime hoax allegations he has become persona non grata in Hollywood. Going the indie route with a story untouched by any live action medium is extremely smart and lucrative; especially with the increasing interest in stories of LGBT people of color.

This is not Jussie’s first time directing either. In fact, he directed two episode on Fox’s Empire before he was terminated from the series. Despite his pending legal issues, Jussie is still a powerful gay figure and there are for people more qualified to tell the stories of an entire, often overlooked, group of people.

There is currently no news of who he will cast in the roles of Mitchell or Raheim. We hope he will do multiple films surrounding the book series. We will keep you posted on news surrounding this momentous event.

What do you think of Jussie’s latest career move? Will you be checking out his feature film directorial debut with “B-Boy Blues?” Sound off in the comments’ section below?

 

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Tory Lanez Charged w/ Shooting Megan Thee Stallion, Social Media Reacts!

Rapper, Tory Lanez, has been convicted of firearm assault in the shooting of fellow rapper and former friend, Megan Thee Stallion.

As you may recall, the rapper shot Megan in both of her feet earlier this year. Earlier today the Los Angeles County District Attorney’s Office officially charged Tory with one felony count each of semi-automatic firearm, person use of a firearm and carrying a loaded, unregistered firearm in a vehicle.

He stands to face up to twenty-two years in prison.

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tory lanez charged with shooting Megan thee stallion

Rapper, Tory Lanez, has been convicted of firearm assault in the shooting of fellow rapper and former friend, Megan Thee Stallion.

As you may recall, the rapper shot Megan in both of her feet earlier this year. Earlier today the Los Angeles County District Attorney’s Office officially charged Tory with one felony count each of semi-automatic firearm, person use of a firearm and carrying a loaded, unregistered firearm in a vehicle.

He stands to face up to twenty-two years in prison.

tory lanez charged with shooting Megan thee stallion

Naturally, social media has been in an uproar–mosty applause–over Tory’s conviction! Check out the most outrages responses below!

We do not wish jail on anyone, but we want to see justice served, and above all else, a Black woman protected. We do not agree with how Tory Lanez handled this situation; and to release an album bashing Megan on the tailwinds of this is just heinous and tacky!

What are your thoughts on Tory’s convictions? Sound off in the comments’ section below!

 

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