Kanye West is now reportedly worth $6.6 billion thanks to his Yeezy brand’s apparel and footwear deals, making him the richest Black American in history

Kanye West
  • Kanye West is the wealthiest Black person in US history with a reported net worth of $6.6 billion.
  • USB values West’s Yeezy collaboration with Gap at $3.2 to $4.7 billion, according to Bloomberg.
  • That valuation brings the mogul’s net worth to a historic new high.
  • See more stories on Insider’s business page.

Kanye West just became the wealthiest Black person US history.

The multifaceted star’s new net worth tops out at $6.6 billion, thanks to a new valuation of West’s Yeezy collaborations with Gap and Adidas, according to a report from Bloomberg. The publication reviewed a document from UBS Group AG outlining economic predictions for the rapper-turned-fashion mogul.

The bank estimated the Yeezy shoe collaboration with Adidas and the upcoming Yeezy clothing collaboration with Gap Inc. are worth about $3.2 to $4.7 billion, according to the report. About $970 million of that is attributable to the Gap deal, Bloomberg reports. The collection for the retailer will feature men’s, women’s, and children’s clothing and is expected to drop sometime this summer.

West’s net worth is also boosted by $1.7 billion invested across a number of assets, including Kim Kardashian West’s Skims brand, according to Bloomberg, which viewed unaudited documents provided by West’s attorney. The rapper holds around $122 million in stocks and liquid assets, the report said, and his music catalog has reportedly been valued at more than $110 million.

Forbes claims West is likely “worth less than a third” of that $6.6 billion – $1.8 billion – calling the “sky-high estimate” only “the latest of West’s attempts to inflate his net worth.” The outlet said it would not speculate any value for the Gap collaboration “until the products start to sell.”

The Yeezy clothing partnership with Gap Inc. was announced in June of last year, sending the retailer’s stock soaring, but analysts at the time were skeptical.

“For the deal to truly change Gap’s outlook, it has to increase Gap’s relevance with consumers so the rest of its business stops shrinking,” UBS analyst Jay Sole wrote in a note sent to clients following the announcement. “We don’t think this will happen.”

In September of last year West appeared on an episode of Nick Cannon’s podcast “Cannons Class” and said that his net worth rose to $5 billion after announcing his partnership with Gap earlier that year.

Read the original article on Business Insider

Michelle Obama tells People Magazine she’s ‘moving toward retirement’

barack obama michelle obama
Former President Barack Obama and former first lady Michelle Obama arrive to the inauguration of President-elect Joe Biden.

  • Former First Lady Michelle Obama says she’s looking toward retiring from public life.
  • Obama told People Magazine she’s “[selectively] picking projects and chasing summer.”
  • Since leaving office, the Obamas have been busy with entertainment projects and book deals.
  • Visit the Business section of Insider for more stories.

Former First Lady Michelle Obama says she is mulling retiring from public life four years after leaving the White House and becoming a private citizen.

Obama told People Magazine in an interview published Wednesday that she’s “[selectively] picking projects and chasing summer.”

“Barack and I never want to experience winter again,” Obama, a native of Chicago, Illinois, told the magazine. “We’re building the foundation for somebody else to continue the work so we can retire and be with each other – and Barack can golf too much, and I can tease him about golfing too much because he’s got nothing else to do.”

After leaving the White House, the Obamas relocated to the Kalorama neighborhood of Washington, DC, purchased another home on Martha’s Vineyard, and kept busy with numerous advocacy, literary, and entertainment ventures.

They’ve both written memoirs (the first volume of Barack Obama’s memoirs, “A Promised Land,” was released in late 2020), and completed film and podcast projects through their production company, Higher Ground, with more projects in the pipeline. “The Michelle Obama Podcast” debuted in 2020 and the former president recently did a Spotify podcast project with Bruce Springsteen titled “Renegades: Born in the USA.”

The former first lady also has a new Netflix children’s show, “Waffles and Mochi,” that will debut soon and a special edition of her wildly successful 2018 memoir “Becoming” is being released for young readers.

In the near future, the Obamas will also celebrate the opening of the Obama Presidential Library in Chicago, which is currently under construction.

They most recently made an appearance at the January 20 inauguration of President Joe Biden, who previously served as Obama’s vice president.

Obama told People that during the pandemic, she struggled with “low-grade depression” compounded by the civil unrest over the deaths of George Floyd and other Black Americans over the summer. Jury selection in the trial of one of the Minneapolis police officers involved in Floyd’s death, Derek Chauvin, is currently underway.

She said she coped with 2020 by getting into knitting and swimming while being home with her two daughters Malia and Sasha, students at Harvard University and the University of Michigan, respectively, who spent months doing remote learning.

“Knitting is a forever proposition You don’t master knitting, because once you make a scarf, there’s the blanket. And once you do the blanket, you’ve got to do the hat, the socks … I could go on about knitting!” Obama told People.

Read the original article on Business Insider

Tom Brady is leading the Buccaneers through their first playoff run in over a decade. Here’s how the quarterback and his supermodel wife Gisele Bündchen make and spend their millions.

Tom Brady Gisele Bundchen net worth
Tom Brady gets a kiss from his wife Gisele Bundchen following Patriots training camp.

  • Tom Brady left the New England Patriots to sign with the Tampa Bay Buccaneers this past offseason, and the quarterback is enjoying rermarkable success with his new squad.
  • Brady and his wife, Gisele Bündchen, comprise one of the most successful celebrity power couples.
  • Bündchen is one of the most successful supermodels in the world; Brady is widely considered the greatest quarterback of all time.
  • The couple has owned several homes and have been known to take lavish trips around the world.
  • Visit Business Insider’s homepage for more stories.

Tom Brady and Gisele Bündchen left their fabulous life in New England behind for the warth of Tampa Bay.

The quarterback announced last offseason that he would part ways with the New England Patriots and sign with the Buccaneers. While the departure was a major lifestyle shift for the duo, which is often regarded as one of the country’s best power couples, Brady has found remarkable success on the gridiron with the Bucs.

Bündchen was the highest-earning model in the world for 10 consecutive years, according to Forbes. Brady has earned six Super Bowl rings and three league MVP awards as a quarterback. Bündchen and Brady married in 2009 and together they lead an extremely fabulous life.

Keep reading to learn more about Brady and Bündchen make and spend their money.

Tony Manfred contributed to this report.

Supermodel Gisele Bündchen and superstar quarterback Tom Brady are one of the most powerful celebrity couples on the planet.

: Co-Chairperson Gisele Bundchen (L) and Tom Brady attend the 'Rei Kawakubo/Comme des Garcons: Art Of The In-Between' Costume Institute Gala at Metropolitan Museum of Art on May 1, 2017 in New York City.

Brady is considered one of the greatest quarterbacks of all time after earning six Super Bowl rings and three league MVP awards in his 20 years with the New England Patriots.

Tom Brady

Source: Spotrac

And now he’s in the hunt for more hardware with the Tampa Bay Buccaneers.

tom brady bucs yell 1

The couple made a big life change by swapping the cold winters of New England for the warmth and humidity of Tampa Bay in 2020, when Brady signed with the Bucs.

Tom Brady

They bought a gorgeous, 5,000-square-foot waterfront estate on Indian Creek Island for $17 million.

tom brady house

Source: Realtor.com

And became neighbors with other celebrities on Miami’s “Billionaires Bunker,” including Ivanka Trump and Jared Kushner, Adriana Lima, and billionaire Carl Icahn.

miami

Source: Realtor.com

Of course, the couple had no choice to buy a boat to fully enjoy life in The Sunshine State. They picked up the multi-million dollar tab on their swanky new ship – “Viva La Vida.”

Attachment0

Many months after they moved to Florida, Brady and Bündchen sold their mansion in the Boston suburbs for a whopping $33 million.

tom brady house

Source: People

Bündchen reigned over the modeling world for well over a decade and was the top-earning supermodel for 10 consecutive years. Even though she retired in 2015, Bündchen was still one of the top-5 highest-paid models of 2018.

Gisele Bündchen

Source: Boston.com

In his last season with the Patriots, the team paid Brady $23 million. He regularly agreed to discount contracts throughout his career to help keep New England competitive.

tom brady happy

Source: NBC Sports

And the Bucs are paying him a cool $15,000,000 salary and $10,000,000 roster bonus for the 2020-2021 NFL season.

tom brady bucs

Source: Spotrac

He is the second-highest-paid player in NFL history, having already earned $261.8 million in his NFL career.

tom brady

Source: Business Insider, Spotrac

Brady has also made an estimated $12 million annually in endorsement deals with companies like Under Armour, Intel, Beats by Dre, and Shields.

Tom Brady

Source: Forbes

Brady’s earnings sound enormous, but it’s actually nothing compared to his wife.

Tom Brady Gisele Bundchen

Forbes reported in July 2016 that Bündchen had earned an estimated $30.5 million throughout the prior year.

Tom Brady Gisele Bundchen

Source: Forbes

She’s had a number of extremely lucrative endorsement deals with major brands, including Chanel, Louis Vuitton, Calvin Klein, and Pantene.

Gisele Chanel

Source: The Street

Additionally, Bündchen has made tons of money by allowing companies to monetize her name and likeness. She had a sandals line with Grendene, lingerie brand with Hope, beauty line with Sejaa Pure Skincare, and others.

Gisele Bündchen

Source: Latin Trends

Brady has also had some exciting endorsement deals, including a partnership with Aston Martin.

Tom Brady

Source: The Drive

Aston Martin even produced a limited Tom Brady edition of the Vanquish S Volante. Only 12 were produced and they went for $360,000 each.

Tom Brady Aston Martin

Source: CNN Money

Together, Brady and Bündchen once owned a custom-built, $20 million mansion in Los Angeles.

Bel Air
Brady and Bundchen’s home not pictured.

Source: Today

It had a moat and a chicken coop so they could eat fresh eggs.

chicken coup
Bündchen and Brady’s chickens not pictured.

Source: Today

But in 2014, they sold the estate to Dr. Dre for a reported $40 million.

Dr. Dre

Source: LA Times

In 2013, they were reportedly searching for a new apartment in NYC. They were spotted looking at a $11.5 million duplex in Manhattan that spring.

tom brady gisele yankees

Source: Trulia

They eventually settled on a glassy skyscraper condo that they purchased for $14 million in 2013.

a private elevator opens on to the light soaked living and dining room

Source: Bleacher Report

In 2016, they put that condo back on the market with a price tag of $17.25 million.

there are plenty of stunning views to be had from throughout the apartment including from this den

Source: Business Insider

That’s because they reportedly dropped $20 million on a new waterfront apartment in Tribeca.

hudson river park is located right next to the apartment complex ideal for the couples three kids

Source: Business Insider

Prior to New York, they lived in a Boston condo, but sold it for $9.2 million in 2012.

brady gisele condo

Source: CBS

The homes are basically Brady’s only lavish purchases.

Tom Brady, his son Jack, 5, Gisele Bundchen, and their son Benjamin, 3

Outside of his Aston Martin, his cars aren’t too gaudy. He got in an accident in 2010 while driving an Audi sedan.

tom bradys audi

Source: ESPN

He told ESPN that he’s a homebody and has to talk to his friends’ kids about music so he knows what’s popular.

tom brady sad

Source: ESPN

He even likes to do silly things like welcome a rescue dog to the family with a “Lion King” video on Facebook.

2019 02 04_10 17 57

Source: Facebook

He does attend lots of high-profile events though, from the Kentucky Derby …

Tom Brady and Rob Gronkowski

Source: NBC Sports

… to Brazil’s famed Carnival …

Brazil Carnival 2020
Carnival celebration at Rio de Janeiro’s Sambradome. Brady not pictured.

Source: Bleacher Report

… to the Met Gala. He and Bündchen were co-chairs of the event in 2017.

Model Gisele Bundchen (L) and NFL player Tom Brady

Source: Vogue

The duo also attended the 2014 FIFA World Cup and were spotted hanging out with Ashton Kutcher.

Tom Brady, right, and Gisele Bundchen

Source: Getty Images

But Brady insists that he prefers to avoid a flashy lifestyle. He doesn’t own a private jet, but sometimes arranges one to bring his parents to visit him.

Model Gisele Bundchen and her husband, NFL quarterback Tom Brady

Source: ESPN

He’s just a dad who likes making sand castles with his kids.

2019 02 04_10 19 49

Source: Instagram/Gisele Bundchen

Brady also spends time raising money for various charities, including $6.5 million for cancer research by buzzing his hair in 2018.

Tom Brady

Source: Business Insider

Bündchen also prioritizes her philanthropic work. She donated a whopping $1.5 million to relief efforts in Haiti in 2009 and regularly supports the United Nations, WWF, St. Jude Children’s Research Hospital, (RED), and St. Francis Food Pantries and Shelters.

gisele bundchen

Source: Style Caster, Look to the Stars

She also works with a number of nonprofits to help benefit her birth country, Brazil. She donates a percentage of the profits from her sandals line to protect Amazon Rainforest water sources while supporting other Brazilian initiatives like Y Ikatu Xingu, Nascentes do Brasil, De Olho nos Mananciais, and ISA.

Gisele Bundchen

Source: Look to the Stars

More recently, it seems like most of Brady’s and Bündchen’s big spending is health-based.

tom brady gisele

Brady and Gisele have a personal chef who has them on a strict diet that includes no sugar, no tomatoes, and avocado ice cream as a treat.

2019 02 04_10 24 40

Source: Business Insider

The chef even has the couple’s children on a strict diet that is about 80% vegetables.

2019 02 04_10 26 08

Source: Business Insider

In 2016, Brady wrote a $200 diet book that sold out almost immediately when it was first released.

Tom Brady nutrition manual

Source: Business Insider

In 2017, Brady had a more modestly priced book drop. “The TB12 Method: How to Achieve a Lifetime of Sustained Peak Performance,” is less than $20 and is being called “The Athletes Bible.”

The TB12 Method by Tom Brady

Source: Business Insider

He is also strict on alcohol, even putting Rob Gronkowski on a drinking diet. But Brady does splurge occasionally, – including on New Year’s Eve, apparently, as he said on Instagram that he was curing his hangover with some TB12 electrolytes on New Year’s Day 2018.

2019 02 04_10 39 45

Source: Business Insider

Bündchen is also a stickler for clean eating habits, prioritizing home-grown foods.

2019 02 04_10 41 00

Source: Gisele Bundchen on Instagram

Brady also employs a ‘body coach’ and health guru, Alex Guerrero, who works with Brady at least once every day and whose duties include spiritual guide, counselor, pal, nutrition adviser, trainer, and massage therapist.

Tom Brady TB12 massage

Source: Business Insider

Bündchen, meanwhile, regularly practices yoga and mindfulness.

2019 02 04_10 42 22

Source: Gisele Bundchen on Instagram

She even practices with her kids.

2019 02 04_10 43 18

Source: Gisele Bundchen on Instagram

She sometimes exercises at Brady’s gym – TB12 – in Boston and does martial arts.

2019 02 04_10 44 41

Source: Insider

And, on occasion, the duo will play some football in their backyard.

2019 02 04_10 47 34

Source: Gisele Bundchen on Instagram

Brady and Bündchen take offseason vacations with the family to places like Asia (on behalf of his partnership with Under Armour, of course).

2019 02 04_10 48 42

Source: Tom Brady on Instagram

Brady even did some sumo wrestling in Tokyo in 2017.

2019 02 04_10 50 24

Source: Under Armour on Instagram

They’ve also visited Qatar.

2019 02 04_10 51 55

Source: US Weekly

But no matter where their lavish lives or impressive careers take them, Brady and Bündchen manage to speak every single day.

Gisele Bundchen and Tom Brady

Source: Business Insider

But despite the occasional lavish trip, Brady and Bündchen are the rare celebrity couple that can actually afford to live a megastar lifestyle, but opt to live more modestly – relative to other high-earning megastars, at least.

Tom Brady #12 of the New England Patriots celebrates with wife Gisele Bundchen
Read the original article on Business Insider

Jamie Lynn Spears called Tesla’s quiet engines a ‘secret cat-killer’ and said Elon Musk ‘owes’ her some new pets, before walking back her comments in since-deleted posts

Musk Spears
Tesla’s CEO Elon Musk and actress Jamie Lynn Spears.

  • Actor Jamie Lynn Spears called Tesla a “cat-killer” on Friday, before walking back her comments.
  • Her cats didn’t hear Tesla cars approaching because of their quiet engines, the actor said.
  • “Elon Musk, let’s figure this out,” she added. “You owe me a couple cats.”
  • Visit Business Insider’s homepage for more stories.

Actress Jamie Lynn Spears on Friday appeared to blame Tesla for the death of her cats.

Tesla’s quiet electric vehicles meant her cats didn’t hear cars approaching, the actor claimed.

“We have now lost – I don’t want to tell you how many cats – because they don’t hear the Tesla crank and unfortunate things happen and it’s really devastating and tragic for everyone involved,” she said in a since-deleted Instagram video posted Friday.

“Somebody’s gotta let Elon Musk know that Tesla is a secret cat-killer,” Spears said in the video.

“Elon Musk, let’s figure this out,” Spears said. “You owe me a couple cats.”

Read more: Tesla’s new ‘tabless’ battery design eliminates the power pack’s ‘weakest link,’ a top researcher says – and could cut production costs by 50%

After a confused reaction to her post, with some fans questioning whether Spears was actually responsible for the deaths, she clarified that she had not run over any cats, per OK! Magazine.

“Tesla is not to be blamed and was never intended to be,” she added in an Instagram update, which she also later deleted.

In her original post, Spears proposed that, “since the Tesla is so quiet,” the cars could make a noise to alert cats of their presence, though she also noted that the deaths could be down to user error.

However, cars making a noise is already a legal requirement, CNN noted, referring to a US National Highway Traffic Safety Administration policy from September, which requires electric and hybrid vehicles to make sounds of at least 43 decibels when traveling at less than 18.6mph.

This is so pedestrians, including those who are visually impaired, know when the vehicles are approaching.

Tesla did not immediately respond to Insider’s request for comment.

Tesla, which fell just short of its goal of 500,000 vehicle sales in 2020, is expected to continue recording booming sales in 2021.

The company could hit 1 million vehicle deliveries by 2022, and 5 million by the end of the decade, according to Wedbush analyst Daniel Ives.

Over the past month, it has begun producing Model Y vehicles in China and registered a company in India, the two most populous countries in the world.

Read the original article on Business Insider

Take a look inside Baltimore’s largest penthouse, a $15 million property that belonged to Tom Clancy and is now up for auction

Tom Clancy
  • Tom Clancy’s former Baltimore penthouse is up for auction.
  • The four-bed waterfront property is located in the Ritz-Carlton Residences and has views over the harbor, as well as the city.
  • It has two offices, a private gym, six balconies, and access to a shared pool and meditation gardens.
  • Photos show just how luxurious the property is.
  • Visit Business Insider’s homepage for more stories.

A penthouse that was custom-designed for author Tom Clancy for $15 million has been put up for auction.

The open plan penthouse is located in the Ritz-Carlton Residences in the Inner Harbor area of Baltimore, Maryland, and has 10-foot ceilings throughout.

It also comes with five parking spaces, including valet parking services, and an elevator that takes you from the garage right inside the penthouse.

Elite Auctions described it as “the most impressive and opulent home in Baltimore.”

The penthouse is located in Maryland’s Ritz-Carlton Residences.

Tom Clancy

The 12,000 square foot penthouse was specially made for Clancy in 2010 by combining three individual penthouses, making it the largest penthouse in the city.

It cost $12 million for the three properties, and he spent a further $3 million refurbishing it.

It sits right on the waterfront by the Inner Harbor.

Tom Clancy

Its prime location means the property has views over the harbor and the downtown city skyline.

Clancy designed the property for entertaining. It features multiple generous living spaces so you can host guests.

Tom Clancy

The design is “inspiring and exceptionally modern,” Elite Auctions says.

Tom Clancy

The lighting, window shades, and in-home audio can all be controlled via an app, too.

Tom Clancy

The master bedroom has not just one but two en-suites, as well as enclosed and walk-in closets and dressing areas.

Tom Clancy

The property has four bedrooms in total …

Tom Clancy

… and six full- and one-half bath.

Tom Clancy

The penthouse comes with access to the Ritz-Carlton’s shared pool …

Tom Clancy

… but you can also work out in private in your own gym.

Tom Clancy

After exercising, you can watch a movie in the penthouse’s spacious home theater room.

Tom Clancy

The property also includes two offices …

Tom Clancy

… and one leads out onto a large terrace with harbor and city views.

Tom Clancy

But that isn’t the only terrace: The property has four balconies and two corner terraces in total.

Tom Clancy

If that’s not enough outdoor space for you, the property also comes with access to the Ritz-Carlton’s two acres of waterfront gardens with fountains. The complex also features a luxurious meditation garden.

Tom Clancy

Other services offered by the residences include: 24/7 front desk attendants, free valet parking for residents and guests, dry cleaning pickup and delivery, available maid service, and porters to deliver groceries and packages.

Tom Clancy
Read the original article on Business Insider