Kanye West is officially a billionaire, according to Forbes magazine, despite still reportedly being in debt.

The publication has claimed the fashion designer gave them what they believe "is an authentic numeric look into Kanye, Inc." and subsequently valued his net worth at a whopping $1.3 billion, which is the equivalent of £1.05 billion.

The incredible figure takes into account his stake in the Yeezy basketball sneaker line, which was described as "one of the great retail stories of the century" by the outlet.

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As he owns 100 per cent of the line, the profits from it takes up the majority of his total worth at $1.26 billion (£1.02 billion).

The 47 year old's team also sent over a list of other assets he's invested in, including $81 million (£66 million) in property and $21 million (£17 million) in land – which they speculated most likely accounts for his house in Los Angeles and property in Wyoming.

The Stronger rapper, whose wife Kim Kardashian is worth an estimated £58 million herself, also has $17 million in cash (£13.7 million) and $35 million in stocks (£28 million).

To top it off, the hip hop singer's GOOD music and the rights to his back catalogue is worth around $90 million (£73 million).

However, despite finally reaching his goal to be included in the coveted list, Kanye is reportedly still not happy as Forbes has claimed he texted them saying: "It's not a billion. It's $3.3 billion (2.7 billion) since no one at Forbes knows how to count."

Kanye, whose 39 year old wife Kim recently revealed how she's keeping the kids entertained in lockdown, previously complained to Forbes about not being included on the list.

Kim Kardashian gives tour of children's epic playroom crammed full of colourful toys, costumes and a supermarket

During an appearance at the 2019 Fast Company Innovation Festival, he said: "When I did Forbes, I showed them a $890 million (£719 million) receipt and they still didn't say 'billionaire'".

O'Malley Greenburg, a senior editor at the publication, claimed Kanye texted him later, saying: "You know what you're doing. You're toying with me and I'm not finna lye down and take it anymore in Jesus name." [sic]

He is then claimed to have texted that Forbes was "purposely a part of a group of media" that was unwilling to give him the credit he thought he deserved because of his race.

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While Kanye, who recently "moved away" from Kim with their kids to give her a "break", may finally be classified as a billionaire, he is still in debt – with payments on mortgages, advances and other liabilities.

Forbes said they "saw about $100 million (£81 million) that West is on the hook for."

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