Wiz Khalifa’s Net Worth is underestimated. Recently, I met with a cannabis distributor in California. He wants to deploy Ai2’s distribution software. Ai2. We got to talking about the marijuana business. I ask him what the premium brand in his market is. Without any hesitation, he tells me it is Khalifa Kush. A brand owned by Wiz Khalifa.
Of course, I knew Wiz Khalifa as the popular rapper. But I knew nothing about the premium consumer brand he created.
As of 2019, Wiz Khalifa’s net worth estimate is $45 million. This puts him on the list of the top 50 richest rappers in the world. Money. However, Wiz Khalifa’s net worth estimate doesn’t factor in the true value of the Khalifa Kush brand. Nor its almost certain growth in value.
Wiz Khalifa’s Net Worth & Casamigos as an Exemplar
Today, celebrities are their own brands. With the rise of influencer marketing, the celebrity brand is a bankable wealth generator. Bethany Frankel’s Skinny Girl, Jessica Alba’s Honest Brands and Kylie Jenner’s cosmetics brands are a few celebrity brand success stories. But Casamigos may be the best example for estimating Wiz Khalifa’s net worth. Wiz’s net worth should soon soar.
Starting out as a pet project to enjoy with friends, George Clooney and Rande Gerber launched in 2013. In no time, their premium tequila label blossomed into a highly successful brand. Recently, Clooney and Gerber sold their brand to Diageo for a cool $1 billion.
Not long ago, it was nearly impossible for a small brand to develop, market, and distribute its own products. Let alone grow it into a $1 billion-dollar brand in a few short years. But today with social media and influencer marketing, celebrity brands have the edge on traditional competitors. Unlike their traditional counterparts, celebrity brands can effortlessly reach their buyers directly. They can leverage their celebrity influence to grow brand equity with relative ease.
Celebrity Brand Equity
Certainly, celebrity brand equity is a reason Diageo pays $1 billion for Casamigos. But did Diageo over pay? Or is there a very high premium to pay for a celebrity brand? I argue that Wiz Khalifa’s net worth estimate is low because Khalifa Kush’s brand equity is higher than Casamigos’s brand equity.
Casamigos has 83,000 followers on Instagram. However, Khalifa Kush has over 314,000 followers on Instagram. By this metric, Khalifa Kush’s social brand equity is 400% higher than Casamigos.
Moreover, “Khalifa Kush” Google search volume is 22,000/mo. But “Casamigos” Google search volume is only a poultry 550/mo. By this metric, the Khalifa Kush monthly Google search volume is 3,900% greater than Casamigos! This represents a much stronger consumer brand awareness.
Today, a brand’s value is not what marketers tell the consumer it is. Present-day, a brand’s value it is what consumers tell each other it is. And consumers are talking a lot more about Khalifa Kush than Casamigos.
Furthermore, and just recently, Supreme Cannabis paid Wiz Khalifa $7 million for the rights to distribute Khalifa Kush. Also, the investment bank Cowen estimates Legal marijuana is set to hit $75 billion in sales in a decade. In a few years, this makes the Legal marijuana industry lager than the soda industry. It is no wonder Coca-Cola is in discussions with Aurora Cannabis to develop beverages infused with CBD.
Wiz Khalifa’s Net Worth Should Dramatically Rise
US prohibition ended in 1933. This led to the creation of dozens of billion-dollar brands. 86 years later, the prohibition against cannabis is ending in North America and the world. Khalifa Kush is one of the premium brands for marijuana. It’s like Bacardi, Jack Daniels and Smirnoff is to alcohol. No doubt, the success of the Khalifa Kush brand will soon outmatch Wiz Khalifa’s music success.