How Much is Parler’s Net Worth? Is Kanye West The Richest Black Man in History?

According to the reports, Ye formerly known as Kanye West has agreed to buy Parler a conservative social media platform leaving users to ponder the app’s worth. The current head of Parler is British conservative George Farmer who is wed to American right-wing activist Candace Owens. The farmer was appointed Parler’s new CEO on May 1, 2021.

The rapper’s suspension from Twitter and Instagram following an anti-Semitic tirade makes this arrangement timely for him. How much is Parler’s net worth? The deal for Kanye to purchase the app should be finalized before the end of the year. Here is what we do know.

What is Parler?

Parler, a free speech-focused and impartial alternative to popular social networks like Twitter and Facebook were introduced in August 2018. Journalists have referred to Parler as an alternative to Twitter which uses alternative technology. Its users include people blocked from other social media platforms or who disagree with their moderation policies.

This is allegedly a front for the website’s far-right audience, according to journalists. Additionally, they have questioned the site’s content limitations claiming that these are more onerous than the company makes them appear and in some cases even more onerous than those of the site’s rivals.

Parler's Net Worth
Parler’s Net Worth

Despite the lack of content regulation in 2020, Parler experienced explosive growth and there are rumors that it was used to plan the attack on the United States in 2021. Before going offline in January 2021, the service had about 15 million users, according to Parler.

“A coordinated attack by the tech giants to kill competition in the marketplace” was how Parler described the removals. Several businesses refused to provide their services to Capitol. The Parler mobile app was removed from the Google Play and Apple app stores and Parler stopped functioning on January 10, 2021, when Amazon Web Services stopped providing hosting.

Before Brexit Party donor and former candidate, George Farmer was named CEO former Tea Party activist Mark Meckler served as Parler’s interim CEO from February to May of 2021. John Matze, the company’s founder and CEO served as CEO until January 29, 2021, when he claimed he was ousted by the board of directors which he claimed was under his control.

Is Kanye West “The Richest Black Man in History?”

The news release from Parler makes this claim. He claims to be worth $10 billion. In 2021, he was estimated to be worth $6.6 billion by several sources. Most of Ye’s wealth is assumed with estimates taking into account the money he will likely make rather than the money he already has.

The majority of the $1.5 billion in net worth of Parler comes from sales of his Yeezy shoe line. The balance of his wealth, estimated to be around $300 million, consists of his homes, furnishings, jewelry, works of art, music library and other possessions. Aliko Dangote, a millionaire from Nigeria can be found at the top of any list of the wealthiest Black men. American investor and businessman Robert F. Smith.

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Is Parler Still Offline?

After the violence in the Capitol, Parler’s app was unavailable for weeks. Its creator, Matze explained that this was because the business was working to resolve the issues that had led to the outage. As of January 16, Parler’s website has been operational again after a brief period of inactivity.

Matze appeared to come out of hiding at the time after receiving death threats following the tragic incident at the US Capitol. On January 10, Apple and Amazon both acknowledged that Parler had been taken down from their respective app stores and web hosting services. Just a few days later, Google took similar action.

Parler's Net Worth
Parler’s Net Worth

Apple and Amazon claimed that a sizable portion of the users of the social networking site had conservative political views and they blamed Parler for not doing enough to prevent the spread of violent posts.

After Amazon decided to stop hosting the app on its cloud platform, Parler filed a lawsuit against the company. Amazon responded by saying that Parler lacked “legal grounds to sue” and that its employees had also experienced threats and mistreatment.

What is The Net Worth of Parler?

Parler is a privately held social media platform that supports users’ right to free expression according to Pitchbook and Crunchbase. Through three funding rounds, $56 million total has been raised for it.

Rebekah Mercer, the daughter of Trump backer Robert Mercer has been a significant investor in Parler since 2018, according to the company’s founder and former CEO John Matze who spoke to Business Insider India in November 2020. “John and I founded Parler to provide a neutral forum for free speech as our founders intended,” Rebekah wrote in a blog post.

All three of Parlor’s funding rounds were led by Mercer according to publicly accessible documents. To create what is now known as Parlement Technologies, Parlor announced on September 16, 2022, that it would pay $16 million to acquire a private company in California.

But it’s crucial to keep in mind that Parler’s Net Worth is not the same as his funding. According to court documents submitted by the company’s attorneys, Parler’s valuation was approaching $1 billion in March 2021 when the app had more than 12 million users.

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