Beanie Sigel Say's Kanye West Promised Him $50M & 5% Stock For Coming Up With Yeezy Name

Kanye told N.O.R.E. and DJ EFN on Drink Champs “People who took a liking to me in volatile situations would always give me a nickname so it seemed like I was cool like them. My boy Mali who used to sell guns, called me K-Rock when I would be on 79th and stuff like that. Yeezy was Beanie’s name for me when I was in Baseline [Studios]. Like on some, ‘Oh, that’s Yeezy,’ make him one of us. He let me wear his State Property chain. He really just embraced me. In return for coining the name upon which his billion-dollar empire has been built, Kanye West is looking to reward his former Roc-A-Fella Records cohort handsomely. During an appearance in his hometown of Philadelphia over the weekend, the Broad Street Bully revealed Kanye has promised him a massive payday, including a $50 million check and five percent stock in his Yeezy company. “I got a phone call from the muthafucka the other day. He said Sig gon’ get $50 million and a five percent stock in Yeezy,” Beans said in a video shared online by Fake Shore Drive‘s Andrew Barber. “And I don’t know if n****s know, Yeezy’s did $1.7 billion last year.” Beanie Sigel’s maths is correct, Kanye’s Yeezy brand did indeed generate $1.7 billion in sales in 2020 alone, netting Ye $191 million in royalties. The brand’s success has inked long-term deals with both Adidas and Gap, has seen Kanye’s personal net worth balloon to $1.8 billion, per Forbes. While it’s unclear exactly how much Beanie Sigel’s five percent stock is worth, the figure is certain to be in the millions. Kanye West also added in his Drink Champs interview that he’s been trying to track Beanie Sigel to reward him for inventing the name Yeezy. “I still owe Beanie money and I’ve been trying to give him this money for a minute,” he said. “I’m like, ‘This man made up the name.’ It’s like the lady who made the Nike swoosh, Phil Knight [co-founder and former CEO of Nike] made sure she was straight.

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