For the amount of $225,000, Kanye West bought his childhood home in Chicago's South Shore neighborhood.
Kanye West's Old Home Almost Got Demolished
According to WGN9, Dona West, West's late mother, bought the home in the 1980s but sold it in 2004. Real estate reporter Dennis Rodkin said that the house went through a lot of trouble after being sold. It went through foreclosure and fell into disrepair before it was purchased by West's collaborator, Rhymefest, who had plans to turn it into an "arts incubator."
Rodkin added that the previous plans did not push through. Instead, the then owner announced that they are going to tear the house down then rebuild it because it would cost more to rehabilitate it due to being empty for years. West and Rhymefest argued on the funding of the incubator, which was brought up in "Keeping Up with the Kardashians."
Kardashian West stood up to defend West and said on her Twitter account that she would never tolerate anyone publicly shaming West and is "pretending to do good."
A month ago, permits to renovate the home was taken out, and will soon be demolishing it. Kanye West finally purchased the house at $225,000, and he will be adding $60,000 for its renovation. There are no updates yet on what the rapper plans to do with the house.
Kanye West is Now a Billionaire
Forbes magazine listed West as a billionaire because of the basketball shoes that he developed with Adidas. The 42-year-old rapper's wealth is now roughly $1.3 billion, which made himself on the list of people worth of at least $1 billion in the magazine.
The Adidas Yeezy footwear sells for more than $200 per pair in the US and other parts of the world. Adding to that, the magazine also said that most of West's money comes from the real estate that he owns.
For years, the footwear magnate had been associated with Nike, but it stopped in 2013 when he lent his name to Adidas in 2015.
A year ago, Forbes featured Kanye West on the cover in summer, focusing on the success of his Yeezy, which is something that made him proud. Kim Kardashian West even congratulated him by posting a Tweet, but because there was no proof of West's wealth, the magazine did not include him in the billionaire's list, which angered the rapper.
West protested publicly, saying that the article posted was disrespectful of him.
West had been pressing Forbes to include him on the mega-rich list but was declined due to lack of evidence. No one remembers from Forbes, but West said that he even showed an $890 million receipt to the magazine, but he was just snubbed.
Next to Jay-Z, Kanye West is the second American rapper to make it to Forbes's most wealthy list.
