kanye-west could be only a few months away financial catastrophesecure the page Page Six. As different corporations abandon the rapper and industry figures condemn him, the source assures that while he has a lot of cash, he also has big expenses and could be in trouble soon if he doesn’t find a way. change course.
Sources familiar with his finances say that the rapper has five sources of income, and that four of them have been completely shut down or severely compromised by his outburst anti-semitic and their support for white supremacists.
It is said that in recent years, West has made money from his big deal with Adidasyour agreement with gaptheir music catalogue, selling new music and concerts.
Adidaswhich is the true engine of his enormous wealth, already said earlier this week that, after his sneaker deal ended Yeezywould immediately suspend payments.
The sources assure that it will be difficult to fight against this decision, because his threats against the Jews and the incident in which he showed pornography to the executives of Adidas “It means they can play hard,” according to a source.
The source also says that gapwho ended his two-year contract in September, owes him some money for the products YEEZYxGAP that he sold between the end of the contract and on Tuesday, when he announced that he would withdraw his products from shelves due to the controversy.
As for the concerts, which should be the easiest money for a star like West can win and a reliable source of quick cash, planned to have a stadium show sofi in The Angels on November 4, but it was canceled and places are unlikely to hire him amid the scandals.
With the new music Page Six ensures that kanye has an album recorded, but there is still no agreement to distribute it. The contract of him with the record label Def jam ended in 2021.
One source says the album will likely remain a life jacketbut unlikely to be as successful as previous albums.
“He’s won so many Grammy Awards and has such a following that his albums go instantly platinum,” the source said, adding that it’s hard to believe anyone would be willing to take such a foolproof deal.
In September, the music trade reported that the team of West tried to sell his catalog for around $135 millionbut he didn’t seem to have much interest.
West bought a $57 million house in Malibu, Calif., last year and destroyed it. It’s in the midst of rebuilding pretty much from scratch.
That is why the project is seriously at risk due to its financial problems. It also has a lot of other houses, but we are told that many of them are mortgaged.
kanye has been in financial trouble before. In 2016, she confessed that he had a personal debt of $54 millionwhich was reportedly due to her many attempts to launch a fashion line, as well as her free-spending style.
A source assured that the opulent lifestyle of West was based on the agreement Adidas, so he would now be losing about three-quarters of his net worth, according to Forbes.
Sources estimate that, although he has more than 100 million dollars in the bankit would only be enough to survive a few “months”.
ABC